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

  • Baldwin, John R.
  • Yan, Beiling

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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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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  1. 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.
  2. Menon, Jayant, 1995. " Exchange Rate Pass-Through," Journal of Economic Surveys, Wiley Blackwell, vol. 9(2), pages 197-231, June.
  3. Kenneth A. Froot & Kenneth Rogoff, 1994. "Perspectives on PPP and Long-Run Real Exchange Rates," NBER Working Papers 4952, National Bureau of Economic Research, Inc.
  4. Pinelopi Koujianou Goldberg & Michael M. Knetter, 1997. "Goods Prices and Exchange Rates: What Have We Learned?," Journal of Economic Literature, American Economic Association, vol. 35(3), pages 1243-1272, September.
  5. Kenneth Rogoff, 1996. "The Purchasing Power Parity Puzzle," Journal of Economic Literature, American Economic Association, vol. 34(2), pages 647-668, June.
  6. Gagnon, Joseph E. & Knetter, Michael M., 1995. "Markup adjustment and exchange rate fluctuations: evidence from panel data on automobile exports," Journal of International Money and Finance, Elsevier, vol. 14(2), pages 289-310, April.
  7. 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.
  8. Dornbusch, Rudiger, 1987. "Exchange Rates and Prices," American Economic Review, American Economic Association, vol. 77(1), pages 93-106, March.
  9. repec:cup:cbooks:9780521465618 is not listed on IDEAS
  10. Harry Bloch, . "Pricing in Australian Manufacturing," Working Papers ec6/92, Department of Economics, University of Lancaster.
  11. Im, Kyung So & Pesaran, M. Hashem & Shin, Yongcheol, 2003. "Testing for unit roots in heterogeneous panels," Journal of Econometrics, Elsevier, vol. 115(1), pages 53-74, July.
  12. Marston, Richard C., 1990. "Pricing to market in Japanese manufacturing," Journal of International Economics, Elsevier, vol. 29(3-4), pages 217-236, November.
  13. Sven W. Arndt & J. David Richardson, 1987. "Real-Financial Linkages Among Open Economies," NBER Working Papers 2230, National Bureau of Economic Research, Inc.
  14. 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.
  15. 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.
  16. 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.
  17. 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.
  18. 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.
  19. Paul Krugman, 1986. "Pricing to Market when the Exchange Rate Changes," NBER Working Papers 1926, National Bureau of Economic Research, Inc.
  20. repec:cup:cbooks:9780521633574 is not listed on IDEAS
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