The share of systemic variations in the Canadian dollar - part II / by Jean-Sébastien Fontaine and Guillaume Nolin. : FB3-7/2017-1E-PDF
“This analytical note examines how much of the systematic variation in the Canadian dollar is attributable to its sensitivity to commodity prices. We introduce a new “oil” portfolio that captures systematic variations when the exchange rates of commodity exporters and commodity importers move in opposite directions. We find that the Canadian dollar’s sensitivity to the oil portfolio has increased with the growing importance of commodities in the Canadian economy; this trend accelerated between 2007 and 2014. However, we find that only a small share of the depreciation of the Canadian dollar in 2014–15 can be attributed to the oil portfolio, even if this depreciation coincided with a sharp decline in oil prices"--Abstract, p. [i].
Lien permanent pour cette publication :
publications.gc.ca/pub?id=9.833303&sl=1
| Ministère/Organisme | Bank of Canada. |
|---|---|
| Titre | The share of systemic variations in the Canadian dollar - part II / by Jean-Sébastien Fontaine and Guillaume Nolin. |
| Variante du titre | Share of systematic variations in the Canadian dollar depreciation - part II |
| Titre de la série | Staff analytical note = Note analytique du personnel, 2369-9639 ; 2017-1 |
| Type de publication | Série - Voir l'enregistrement principal |
| Langue | [Anglais] |
| Format | Électronique |
| Document électronique | |
| Note(s) | Cover title. Includes bibliographical references. Includes abstract in French. |
| Information sur la publication | [Ottawa] : Bank of Canada, c2017. |
| Auteur / Contributeur | Fontaine, Jean-Sébastien. Nolin, Guillaume. |
| Description | 6 p. : col. charts |
| Numéro de catalogue |
|
| Descripteurs | Currency Exchange rates |