Publications and Research

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2007
Testing Uncovered Interest Parity: A Continuous-Time Approach
Antonio Diez de los Rios and Enrique Sentana
Working Paper 2007-53

2007
Where Does Price Discovery Occur in FX Markets?
Chris D'Souza
Working Paper 2007-52

2007
Canada's Pioneering Experience with a Flexible Exchange Rate in the 1950s: (Hard) Lessons Learned for Monetary Policy in a Small Open Economy
Michael Bordo, Ali Dib, and Lawrence Schembri
Working Paper 2007-45

2007
Multilateral Adjustment and Exchange Rate Dynamics: The Case of Three Commodity Currencies
Jeannine Bailliu, Ali Dib, Takashi Kano, and Lawrence Schembri
Working Paper 2007-41

2007
Gold Prices and Inflation
Greg Tkacz
Working Paper 2007-35

2007
Order Aggressiveness and Quantity: How Are They Determined in a Limit Order Market?
Ingrid Lo and Stephen G. Sapp
Working Paper 2007-23

2007
A No-Arbitrage Analysis of Macroeconomic Determinants of Term Structures and the Exchange Rate
Fousseni Chabi-Yo and Jun Yang
Working Paper 2007-21

Autumn 2006
A New Effective Exchange Rate Index for the Canadian Dollar
Janone Ong
Bank of Canada Review article

2006
Multinationals and Exchange Rate Pass-Through
Alexandra Lai and Oana Secrieru
Working Paper 2006-30

2006
The Turning Black Tide: Energy Prices and the Canadian Dollar
Ramzi Issa, Robert Lafrance, and John Murray
Working Paper 2006-29

2006
Can Affine Term Structure Models Help Us Predict Exchange Rates?
Antonio Diez de los Rios
Working Paper 2006-27

Spring 2006
Global Imbalances—Just How Dangerous?
Bruce Little and Robert Lafrance
Bank of Canada Review article

2006
The Welfare Implications of Inflation versus Price-Level Targeting in a Two-Sector, Small Open Economy
Eva Ortega and Nooman Rebei
Working Paper 2006-12

2006
A Structural Error-Correction Model of Best Prices and Depths in the Foreign Exchange Limit Order Market
Ingrid Lo and Stephen G. Sapp
Working Paper 2006-8

Winter 2005-2006
70 Years of Central Banking: The Bank of Canada in an International Context, 1935–2005
Michael D. Bordo and Angela Redish
Bank of Canada Review article

2005
Order Submission: The Choice between Limit and Market Orders
Ingrid Lo and Stephen G. Sapp
Working Paper 2005-42

2005
The Exchange Rate and Canadian Inflation Targeting
Christopher Ragan
Working Paper 2005-34

Autumn 2005
Exports, Imports, and the Appreciation of the Canadian Dollar
Richard Dion, Michel Laurence, and Yi Zheng
Bank of Canada Review article

Autumn 2005
How the Appreciation of the Canadian Dollar Has Affected Canadian Firms: Evidence from the Bank of Canada Business Outlook Survey
Jean Mair
Bank of Canada Review article

Autumn 2005
What Drives Movements in Exchange Rates?
Jeannine Bailliu and Michael R. King
Bank of Canada Review article

Autumn 2005
The exchange Rate and Canadian Inflation Targeting
Christopher Ragan
Bank of Canada Review article

2005
Has Exchange Rate Pass-Through Really Declined in Canada?
Hafedh Bouakez and Nooman Rebei
Working Paper 2005-29

2005
The Effects of the Exchange Rate on Investment: Evidence from Canadian Manufacturing Industries
Tarek Harchaoui, Faouzi Tarkhani, and Terence Yuen
Working Paper 2005-22

2005
The Effectiveness of Official Foreign Exchange Intervention in a Small Open Economy: The Case of the Canadian Dollar
Rasmus Fatum and Michael R. King
Working Paper 2005-21

Spring 2005
Conference Summary: Canada in the Global Economy
Lawrence L. Schembri
Bank of Canada Review article

2005
Labour Market Adjustments to Exchange Rate Fluctuations: Evidence from Canadian Manufacturing Industries
Danny Leung and Terence Yuen
Working Paper 2005-14

2005
Do Exchange Rates Affect the Capital-Labour Ratio? Panel Evidence from Canadian Manufacturing Industries
Danny Leung and Terence Yuen
Working Paper 2005-12

2004
Characterization of the Dynamic Effects of Fiscal Shocks in a Small Open Economy
Nooman Rebei
Working Paper 2004-41

2004
Optimal Taylor Rules in an Estimated Model of a Small Open Economy
Steve Ambler, Ali Dib, and NoomanRebei
Working Paper 2004-36

2004
Exchange Rate Pass-Through and the Inflation Environment in Industrialized Countries: An Empirical Investigation
Jeannine Bailliu and Eiji Fujii
Working Paper 2004-21

2004
When Bad Things Happen to Good Banks: Contagious Bank Runs and Currency Crises
Raphael H. Solomon
Working Paper 2004-18

Spring 2004
Exchange Rate Pass-Through in Industrialized Countries
Jeannine Bailliu and Hafedh Bouakez
Bank of Canada Review article

Winter 2003-2004
Current Account Imbalances: Some Key Issues for the Major Industrialized Countries
Jocelyn Jacob
Bank of Canada Review article

2003
Anatomy of a Twin Crisis
Raphael H. Solomon
Working Paper 2003-41

2003
Alternative Targeting Regimes, Transmission Lags, and the Exchange Rate Channel
Jean-Paul Lam
Working Paper 2003-39

2003
Real Exchange Rate Persistence in Dynamic General-Equilibrium Sticky-Price Models: An Analytical Characterization
Hafedh Bouakez
Working Paper 2003-35

2003
Nominal Rigidities and Exchange Rate Pass-Through in a Structural Model of a Small Open Economy
Steve Ambler, Ali Dib, and NoomanRebei
Working Paper 2003-29

2003
Monetary Policy in Estimated Models of Small Open and Closed Economies
Ali Dib
Working Paper 2003-27

Summer 2003
Measuring Interest Rate Expectations in Canada
Grahame Johnson
Bank of Canada Review article

2003
Modélisation et prévision du taux de change réel effectif américain
René Lalonde and Patrick Sabourin
Working Paper 2003-3

2002
Price-Setting and Exchange Rate Pass-Through: Theory and Evidence (PDF)
Michael B. Devereux and James Yetman
Conference proceedings

2002
Monetary Policy in a Small Open Economy (PDF)
Gabriel Srour
Conference proceedings

2002
New Keynesian, Open-Economy Models and Their Implications for Monetary Policy (PDF)
David Bowman and Brian Doyle
Conference proceedings

Autumn 2002
Purchasing-Power Parity: Definition, Measurement, and Interpretation
Robert Lafrance and Lawrence Schembri
Bank of Canada Review article

2002
Supply Shocks and Real Exchange Rate Dynamics: Canadian Evidence
Céline Gauthier and David Tessier
Working Paper 2002-31

2002
Nominal Rigidity, Desired Markup Variations, and Real Exchange Rate Persistence
Hafedh Bouakez
Working Paper 2002-26

2002
Does Exchange Rate Policy Matter for Growth?
Jeannine Bailliu, Robert Lafrance, and Jean-François Perrault
Working Paper 2002-17

2002
A Market Microstructure Analysis of Foreign Exchange Intervention in Canada
Chris D'Souza
Working Paper 2002-16

Spring 2002
Foreign Takeovers and the Canadian Dollar: Evidence and Implications
Larry Schembri
Bank of Canada Review article

Autumn 2001
Conference Summary: Revisiting the Case for Flexible Exchange Rates
Larry Schembri
Bank of Canada Review article

2001
On Commodity-Sensitive Currencies and Inflation Targeting
Kevin Clinton
Working Paper 2001-3

2000
The Application of Artificial Neural Networks to Exchange Rate Forecasting: The Role of Market Microstructure Variables
Nikola Gradojevic and Jing Yang
Working Paper 2000-23

2000
Modelling Risk Premiums in Equity and Foreign Exchange Markets
R. Garcia and M. Kichian
Working Paper 2000-9

2000
International Financial Crises and Flexible Exchange Rates: Some Policy Lessons from Canada
J. Murray
Technical Report No. 88

2000
Exchange Rate Variability and Investment in Canada (PDF)
Robert Lafrance and David Tessier
Conference paper

2000
Is There a Case for Exchange-Rate-Induced Productivity Changes? (PDF)
Richard G. Harris
Conference paper

2000
Quelques résultats empiriques relatifs à l'évolution du taux de change Canada/États-Unis
R. Djoudad and D. Tessier
Working Paper 2000-4

Winter 1999-2000
The Exchange Rate, Productivity, and the Standard of Living
Robert Lafrance and Lawrence L. Schembri
Bank of Canada Review article

Autumn 1999
Real Exchange Rate Indexes for the Canadian Dollar
Robert Lafrance and Pierre St-Amant
Bank of Canada Review article

1999
Canada’s Exchange Rate Regime and North American Economic Integration: The Role of Risk-Sharing Mechanisms
Z. Antia, R. Djoudad, and P. St-Amant
Working Paper 99-17

1999
Why Canada Needs a Flexible Exchange Rate
Murray, John
Working Paper 99-12

1999
Real Effects of Collapsing Exchange Rate Regimes: An Application to Mexico
Osakwe, Patrick, and Lawrence Schembri
Working Paper 99-10

1999
The Exchange Rate Regime and Canada's Monetary Order
Laidler, David
Working Paper 99-7

1999
An Intraday Analysis of the Effectiveness of Foreign Exchange Intervention
N. Beattie and J.-F. Fillion
Working Paper 99-4

Autumn 1998
Currency crises and fixed exchange rates in the 1990s: A review
Patrick Osakwe and Lawrence Schembri
Bank of Canada Review article

1998
Fundamentals, Contagion and Currency Crises: An Empirical Analysis
M. Kruger, P. N. Osakwe and J.Page
Working Paper 98-10

Winter 1996-97
The impact of exchange rate movements on consumer prices
Thérèse Laflèche
Bank of Canada Review article

1996
Excess Volatility and Speculative Bubbles in the Canadian Dollar: Real or Imagined?
J. Murray, S. van Norden and R.Vigfusson
Technical Report 76

1996
The Effect of Intervention on Canadian Dollar Volatility
J. Murray, M. Zelmer and D.McManus
Print copy available
conference paper

Spring 1995
Exchange rate fundamentals and the Canadian dollar
R. Lafrance and S. van Norden
Bank of Canada Review article

1995
Exchange Rates and Oil Prices
R. A. Amano and S. van Norden
Working Paper 95-8

1994
Symétrie des chocs touchant les régions canadiennes et choix d'un régime de change
DeSerres, A. and R. Lalonde
Working paper 94-9

1994
Exchange Rate Volatility and Trade: A Survey
A. Côté
Working Paper 94-5

1994
Further Analysis of Exchange Rate Targeting in Canada
R. A. Amano and T. S. Wirjanto
Working Paper 94-2

1994
Optimum Currency Areas and Shock Asymmetry: A Comparison of Europe and the United States
Chamie, N., A. DeSerres and R. Lalonde
Working Paper 94-1

1994
Capital flows, exchange rates and monetary policy: the Canadian Experience
J. Powell
Print copy available
Eleventh Pacific Basin Central Bank Conference (Hong Kong, 1994)

1993
Oil Prices and the Rise and Fall of the U.S. Real Exchange Rate
R. A. Amano and S. van Norden
Print copy available
Working Paper 93-15

1993
Regime Switching as a Test for Exchange Rate Bubbles
S. van Norden
Print copy available
Working Paper 93-5

1993
Terms of Trade and Real Exchange Rates: The Canadian Evidence
R. A. Amano and S. van Norden
Print copy available
Working Paper 93-3

1990
Measuring the Profitability and Effectiveness of Foreign Exchange Market Intervention: Some Canadian Evidence
J. Murray, M. Zelmer and S.Williamson
Technical Report 53

1980
Some Aspects of the Canadian Experience with Flexible Exchange Rates in the 1970s
C. Freedman and D. Longworth
Print copy available
Technical Report 20

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Email publications@bankofcanada.ca

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