Additional Papers

A couple of additional papers that might be of interest are

M. Baxter and A.C. Stockman, "Business Cycles and the Exchange Rate Regime: Some International Evidence", Journal of Monetary Economics, Vol. 23, No. 3, 1989, pp. 377-400.

R. Flood and A. Rose, "Fixing Exchange Rates: A Virtual Quest for Fundamentals", Journal of Monetary Economics, Vol. 36, No. 1, 1995, pp. 3-38.

Following the references cited in these papers and the ones assigned in the course will lead you deep into the current literature.

If you are interested in the question of whether Canada should adopt the U.S. dollar as its currency or remain on a flexible exchange rate you should read, in addition to the assigned paper by Jack Carr and myself, the following papers:

Thomas J. Courchene and Richard G. Harris, From Fixing to Monetary Union: Options for North American Currency Integration, CD Howe Institute, 1999.(pdf -- harris.pdf -- 135k)

Herbert G. Grubel, "The Case for the Amero: The Economics and Politics of a North American Monetary Union", Critical Issues Bulletin, The Fraser Institute, 1999.

David Laidler, "The Exchange Rate Regime and Canada's Monetary Order", Working Paper 99-7, Bank of Canada, 1999. (postscript -- laidler.ps -- 247k)

John Crow, "Any Sense in a Canadian Dollar", P.E.A.P. Policy Study 99-1, University of Toronto, 1999.

John Murray, "Why Canada Needs a Flexible Exchange Rate", Working Paper 99-12, Bank of Canada, 1999. (postscript -- murray.ps -- 1156k)

For some more general background on the Canadian monetary system relevent to understanding current issues, you should read

Michael Bordo, Angela Redish and Ronald A. Shearer, "Canada's Monetary System in Historical Perspective: Two Faces of the Exchange Rate Regime", University of British Columbia Discussion Paper No. 99-24, October 1999. (pdf -- bordred.pdf -- 182k)

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