F - International Economics
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The International Monetary Fund's Balance-Sheet and Credit Risk
The authors examine the characteristics of International Monetary Fund (IMF) lending from the 1960s to 2005. -
Institutional Quality, Trade, and the Changing Distribution of World Income
Conventional wisdom holds that institutional changes and trade liberalization are two main sources of growth in per capita income around the world. -
A Structural Error-Correction Model of Best Prices and Depths in the Foreign Exchange Limit Order Market
Traders using the electronic limit order book in the foreign exchange market can watch the posted price and depth of the best quotes change over the day. -
Are Currency Crises Low-State Equilibria? An Empirical, Three-Interest-Rate Model
Suppose that the dynamics of the macroeconomy were given by (partly) random fluctuations between two equilibria: "good" and "bad." -
Structural Change in Covariance and Exchange Rate Pass-Through: The Case of Canada
The authors address empirically the implications of structural breaks in the variance-covariance matrix of inflation and import prices for changes in pass-through. -
An Empirical Analysis of Foreign Exchange Reserves in Emerging Asia
Over the past few years, the ability of the United States to finance its current account deficit has been facilitated by massive purchases of U.S. -
MUSE: The Bank of Canada's New Projection Model of the U.S. Economy
The analysis and forecasting of developments in the U.S. economy have always played a critical role in the formulation of Canadian economic and financial policy. Thus, the Bank places considerable importance on generating internal forecasts of U.S. economic activity as an input to the Canadian projection. -
The Exchange Rate and Canadian Inflation Targeting
The author provides a non-technical explanation of the role played by the exchange rate in Canada's inflation-targeting monetary policy. -
Degree of Internationalization and Performance: An Analysis of Canadian Banks
The international business literature measures the link between the degree of internationalization (DOI) of a firm's activities and its performance.