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De la surévaluation du dollar canadien

Author

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  • Mundell, Robert A.

    (Department of Economics, Columbia University, New York)

Abstract

The Canadian dollar is presently (1990) overvalued. The Canadian authorities should let it depreciate promptly to a level of 78 to 80 US cents, and then keep it firmly within this range. The general case is based on modern monetary theory and history. Specific criticisms of the Bank of Canada's defense of flexible exchange rates complete the argument. Le dollar canadien est présentement (en 1990) surévalué. Les autorités canadiennes devraient le laisser se déprécier promptement à un niveau de 0,78 à 0,80 $ÉU, puis s’engager fermement à le maintenir dans cet intervalle. La position qui est ainsi défendue s’appuie en général sur la théorie et l’histoire monétaires contemporaines, et en particulier sur une critique des arguments spécifiques de la Banque du Canada en faveur du régime actuel des taux de change flexibles.

Suggested Citation

  • Mundell, Robert A., 1991. "De la surévaluation du dollar canadien," L'Actualité Economique, Société Canadienne de Science Economique, vol. 67(1), pages 5-36, mars.
  • Handle: RePEc:ris:actuec:v:67:y:1991:i:1:p:5-36
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    References listed on IDEAS

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    1. Anonymous, 1964. "International Monetary Fund," International Organization, Cambridge University Press, vol. 18(4), pages 872-873, October.
    2. Anonymous, 1964. "International Monetary Fund," International Organization, Cambridge University Press, vol. 18(4), pages 855-859, October.
    3. Anonymous, 1964. "International Monetary Fund," International Organization, Cambridge University Press, vol. 18(3), pages 616-621, July.
    4. Dornbusch, Rudiger, 1976. "Expectations and Exchange Rate Dynamics," Journal of Political Economy, University of Chicago Press, vol. 84(6), pages 1161-1176, December.
    5. David E.W. Laidler, 1991. "An Overview," Introductory Chapters, in: The Golden Age of the Quantity Theory, Princeton University Press.
    6. Anonymous, 1964. "International Monetary Fund," International Organization, Cambridge University Press, vol. 18(1), pages 193-196, January.
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    Cited by:

    1. Courchene, Thomas J. & Harris, Richard G., 2000. "North American Monetary Union: analytical principles and operational guidelines," The North American Journal of Economics and Finance, Elsevier, vol. 11(1), pages 3-18, August.

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