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Influences interieures et etrangeres sur les prix canadiens selon les mouvements cycliques du taux de change, 1974 a 1996

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  • Baldwin, John R.
  • Yan, Beiling

Abstract

Les auteurs examinent le comportement de 81 industries manufacturieres canadiennes en matiere d'etablissement des prix au cours de la periode allant de 1974 a 1996. Ils se penchent sur les facteurs interieurs et etrangers ayant une incidence sur la formation des prix au Canada ainsi que sur les circonstances dans lesquelles les prix canadiens reagissent aux influences etrangeres (americaines) (loi du prix unique) par opposition aux facteurs interieurs (main d'oeuvre, couts energetiques et croissance de la productivite). Leurs constatations sont les suivantes : (1) Les prix des industries manufacturieres canadiennes sont generalement regis a la fois par la regle d'etablissement des prix au moyen d'un taux de marge et par la loi du prix unique. Les facteurs tant interieurs (comme le prix des intrants et la productivite) qu'etrangers (notamment les prix des biens concurrents aux Etats Unis) exercent une influence marquee sur les prix canadiens. (2) Les prix canadiens sont plus sensibles aux prix americains si l'industrie compose avec une concurrence plus forte des biens importes et si les biens canadiens et etrangers sont moins differencies. Comparativement aux prix des biens canadiens, les prix des biens importes sont plus sensibles aux prix etrangers, mais ils reagissent neanmoins aux prix canadiens, quoique ce phenomene de fixation des prix en fonction du marche soit moins accentue a mesure que l'importance des importations augmente. (3) Il existe des differences au niveau des industries. Les prix interieurs sont plus sensibles aux changements touchant la productivite dans les industries ou la concurrence est plus intense et ou les biens sont plus homogenes. Les importations sont pour leur part plus sensibles aux facteurs interieurs lorsqu'elles representent une part plus petite du marche interieur. (4) A mesure qu'augmentent les pressions emanant des marches etrangers, en parallele avec l'appreciation du dollar canadien, les changements au niveau des prix sont plus fortement influencees par les fluctuations des prix etrangers. A titre comparatif, lorsque les pressions des marches etrangers diminuent, en periode de depreciation du dollar canadien, les changements au niveau des prix canadiens seront davantage influences par l'evolution du cout des intrants au Canada. Les desequilibres engendres par des chocs anterieurs sont resorbes plus rapidement en periode d'appreciation du taux de change.

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Bibliographic Info

Paper provided by Statistics Canada, Direction des etudes analytiques in its series Serie de documents de recherche sur l'analyse economique (AE) with number 2006043f.

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Date of creation: 08 Nov 2006
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Handle: RePEc:stc:stcp5f:2006043f

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Related research

Keywords: Intercity and international price comparisons; Manufacturing; Prices and price indexes;

References

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  1. Dornbusch, Rudiger, 1987. "Exchange Rates and Prices," American Economic Review, American Economic Association, vol. 77(1), pages 93-106, March.
  2. Baldwin,John R. & Gorecki,Paul With contributions by-Name:Caves,Richard E. With contributions by-Name:Dunne,Tim With contributions by-Name:Haltiwanger,John, 1998. "The Dynamics of Industrial Competition," Cambridge Books, Cambridge University Press, number 9780521633574, October.
    • Baldwin,John R. & Gorecki,Paul With contributions by-Name:Caves,Richard E. With contributions by-Name:Dunne,Tim With contributions by-Name:Haltiwanger,John, 1995. "The Dynamics of Industrial Competition," Cambridge Books, Cambridge University Press, number 9780521465618, October.
  3. Stanley W. Kardasz & Kenneth R. Stollery, 1998. "Determinants of domestic and import prices in Canadian manufacturing industries," Empirical Economics, Springer, vol. 23(4), pages 593-610.
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  6. Feinberg, Robert M, 1986. "The Interaction of Foreign Exchange and Market Power Effects on German Domestic Prices," Journal of Industrial Economics, Wiley Blackwell, vol. 35(1), pages 61-70, September.
  7. Bloch, H., 1991. "Pricing in Australian Manufacturing," Papers 1991-07, Tasmania - Department of Economics.
  8. Feinberg, Robert M, 1989. "The Effects of Foreign Exchange Movements on U.S. Domestic Prices," The Review of Economics and Statistics, MIT Press, vol. 71(3), pages 505-11, August.
  9. Sven W. Arndt & J. David Richardson, 1988. "Real-Financial Linkages Among Open Economies," NBER Working Papers 2230, National Bureau of Economic Research, Inc.
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  11. Joseph E. Gagnon & Michael M. Knetter, 1992. "Markup Adjustment and Exchange Rate Fluctuations: Evidence From Panel Data on Automobile Exports," NBER Working Papers 4123, National Bureau of Economic Research, Inc.
  12. Lawrence Schembri, 1989. "Export Prices and Exchange Rates: An Industry Approach," NBER Chapters, in: Trade Policies for International Competitiveness, pages 185-216 National Bureau of Economic Research, Inc.
  13. Pasaran, M.H. & Im, K.S. & Shin, Y., 1995. "Testing for Unit Roots in Heterogeneous Panels," Cambridge Working Papers in Economics 9526, Faculty of Economics, University of Cambridge.
  14. Engle, Robert F & Granger, Clive W J, 1987. "Co-integration and Error Correction: Representation, Estimation, and Testing," Econometrica, Econometric Society, vol. 55(2), pages 251-76, March.
  15. Kenneth Rogoff, 1996. "The Purchasing Power Parity Puzzle," Journal of Economic Literature, American Economic Association, vol. 34(2), pages 647-668, June.
  16. Bloch, Harry & Olive, Michael, 1999. "Cyclical and Competitive Influences on Pricing in Australian Manufacturing," The Economic Record, The Economic Society of Australia, vol. 75(230), pages 268-79, September.
  17. John A. Karikari, 1988. "International Competitiveness and Industry Pricing in Canadian Manufacturing," Canadian Journal of Economics, Canadian Economics Association, vol. 21(2), pages 410-26, May.
  18. Paul Krugman, 1986. "Pricing to Market when the Exchange Rate Changes," NBER Working Papers 1926, National Bureau of Economic Research, Inc.
  19. Marston, Richard C., 1990. "Pricing to market in Japanese manufacturing," Journal of International Economics, Elsevier, vol. 29(3-4), pages 217-236, November.
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