Much Appreciated? The Rise of the Canadian Dollar

Michael Devereux

Review of Economic Analysis, 2009, vol. 1, issue 1, 1-33

Abstract: Between 2002 and 2008, the Canadian dollar appreciated in real terms against the US dollar by 60 percent. This large change in real exchange rates between such major trading partners as Canada and the US is almost unprecedented. This paper explores the historical background to the movement of the Canadian dollar during this period, discusses the most accepted explanations for the appreciation, and speculates on the implications for the Canadian economy. The discussion is placed within the framework of recent developments in the theoretical and empirical literature on exchange rates

Keywords: Canadian Dollar; Exchange Rates; Appreciation (search for similar items in EconPapers)
JEL-codes: F3 F4 (search for similar items in EconPapers)
Date: 2009
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Citations: View citations in EconPapers (2)

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