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Keywords:Canada 

Working Paper
Relative price volatility: what role does the border play?

We reexamine the effect of the U.S.-Canadian border on integration of markets. The paper updates work from our earlier paper, Engel and Rogers (1996). We consider alternative measures of deviations from the law of one price. We pay special attention to the effect of the U.S.-Canada free trade agreement on market integration. Our conclusions are unchanged: markets in the U.S. and Canada are more segmented than can be explained by the physical distance between the two locations. Formal trade barriers do not appear to explain much of that segmentation.
International Finance Discussion Papers , Paper 623

Journal Article
The economic effects of the U.S.-Canada free trade agreement on New England

New England Economic Indicators , Issue Q I , Pages iv-xiii

Working Paper
A comparison of discount rate models using international stock market data

This paper compares the ability of four discount rate models to explain the cross-sectional and time-series variation of stock returns in the U.S., Japan, England, Germany, and Canada. The data consist of quarterly returns (in dollars) on Morgan Stanley's Capital International indices for the period 1972 through 1991. The following four models are considered: (1) A consumption CAPM model, linking the discount rate to the intertemporal marginal rate of substitution in consumption, (2) A production CAPM model, linking the discount rate to the intertemporal marginal rate of transformation in ...
Working Papers in Applied Economic Theory , Paper 94-15

Journal Article
NAFTA and U.S. banking

FRBSF Economic Letter

Journal Article
The credibility of inflation targets

FRBSF Economic Letter

Newsletter
The binational Great Lakes economy

Chicago Fed Letter , Issue May

Journal Article
What do economic models tell us about the effects of the U.S.-Canada Free Trade Agreement?

Review , Issue Sep , Pages 40-58

Conference Paper
The competition policy treatment of shared EFT networks: the INTERAC case

Proceedings , Paper 588

Working Paper
Gravity model specification and the effects of the Canada-U.S. border

There is a well-established literature finding that the Canada-U.S. border has a large dampening effect on trade, is asymmetric, and differs across provinces. In this paper, I demonstrate that the standard gravity model used to obtain these results provides biased estimates of the volume of trade. I attribute this to heterogeneity bias and reestimate the effects of the border using a gravity model that allows for heterogeneous gravity equations. Doing so does not alter the general results of existing studies, although it does yield a border effect that is 40 percent larger, reverses the ...
Working Papers , Paper 2000-024

Journal Article
Unemployment in Canada and the United States: the role of unemployment insurance benefits

Quarterly Review , Volume 14 , Issue Win , Pages 48-61

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