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Does the Canadian Economy Suffer from Dutch Disease?
Social Science Research Network
We argue that the failure to disentangle the evolution of the Canadian currency from the U.S. currency leads to potentially incorrect conclusions regarding the case of Dutch disease in Canada. We propose a new approach that is aimed at extracting both currency components and energy-and commodity-price components from observed exchange rates and prices. We first analyze the separate influence of commodity prices on the Canadian and the U.S. currency components. We then estimate the separatedoi:10.2139/ssrn.1336635 fatcat:ublerjhvqfgibiget3e65e2to4