The exchange rate regime and Canada's monetary order / by David Laidler. : FB3-2/99-7E-PDF

The paper concludes that the current order is well-conceived because cross-border labour mobility is limited, Canadian money wages and prices are sticky, and the real exchange rate between Canada and the United States is subject to real shocks. Among the fixed rate options, all of which are inferior to current arrangements, a full monetary union is judged the most economically viable, though politically illiberal, while a pegged rate seems to provide an untrustworthy basis for a coherent monetary order.--Page v

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Publication information
Department/Agency Bank of Canada.
Title The exchange rate regime and Canada's monetary order / by David Laidler.
Series title Bank of Canada working paper1701-939799-7
Publication type Series - View Master Record
Language [English]
Format Electronic
Electronic document
Other formats Paper-[English]
Note(s) "The paper concludes that the current order is well-conceived because cross-border labour mobility is limited, Canadian money wages and prices are sticky, and the real exchange rate between Canada and the United States is subject to real shocks. Among the fixed rate options, all of which are inferior to current arrangements, a full monetary union is judged the most economically viable, though politically illiberal, while a pegged rate seems to provide an untrustworthy basis for a coherent monetary order."--Page v.
The ISBN (0-662-27770-8) and ISSN (1192-5434) for the print edition have been incorrectly copied in this electronic publication.
Résumé en français.
Publishing information Ottawa - Ontario : Bank of Canada March 1999.
Description 32p.references
ISSN 1701-9397
Catalogue number
  • FB3-2/99-7E-PDF
Subject terms Exchange rates
Monetary policy
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