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040 |aCaOODSP|beng|erda|cCaOODSP
0410 |aeng|beng|bfre
043 |an-cn---|an-us---
045 |ay0y1
0861 |aFB3-5/2020-10E-PDF
1001 |aGuo, Jinggang, |eauthor.
24510|aDo protectionist trade policies integrate domestic markets? : |bevidence from the Canada-U.S. softwood lumber dispute / |cby Jinggang Guo and Craig M.T. Johnston.
264 1|aOttawa, Ontario, Canada : |bBank of Canada = Banque du Canada, |c2020.
264 4|c©2020
300 |a1 online resource (iii, 20 pages) : |billustrations.
336 |atext|btxt|2rdacontent
337 |acomputer|bc|2rdamedia
338 |aonline resource|bcr|2rdacarrier
4901 |aStaff working paper = Document de travail du personnel, |x1701-9397 ; |v2020-10
500 |a"Last updated: March 23, 2020."
504 |aIncludes bibliographical references (pages 19-20).
5203 |a"We consider the effects of protectionist trade policies on international and domestic market integration, using evidence from the long-standing softwood lumber trade dispute between Canada and the United States. The benefits of trade liberalization are widely acknowledged, including better home-to-foreign price transmission due to reduced tariffs and lower trade costs between countries. Yet in recent years we see efforts to protect specific domestic groups, including producers, through a revival of protectionist trade policies. Such policies could improve the home-to-home price transmission across domestic markets as consumers may seek lower-cost alternatives domestically. We investigate these ideas using a bi-variate three-regime threshold vector error-correction model (TVECM) to examine the spatial price transmission between Canadian and U.S. markets and within U.S. domestic markets. We do that by introducing a structural break at the start of an effective free trade period within our sample. The results suggest that duty-free treatment for imported Canadian softwood lumber substantially lowers the transaction costs between the two nations. Prices are more easily transmitted from the Canadian market to the U.S. at a higher speed, but the speed of price transmission in the reverse direction is not statistically significant. The U.S. domestic market experienced a higher speed of price adjustment across domestic regions prior to the free trade period, which provides evidence that protectionist policies lead to better domestic market integration"--Abstract, page ii.
546 |aIncludes abstracts in English and French.
650 0|aInternational economic integration.
650 0|aSoftwood industry|zCanada.
650 0|aSoftwood industry|zUnited States.
650 0|aProtectionism|zUnited States.
650 0|aTariff on softwood|zUnited States.
650 6|aIntégration économique internationale.
650 6|aBois tendres|xIndustrie|zCanada.
650 6|aBois tendres |xIndustrie|zÉtats-Unis.
650 6|aProtectionnisme|zÉtats-Unis.
650 6|aBoits tendres|xDroits de douane|zÉtats-Unis.
7102 |aBank of Canada.
830#0|aStaff working paper (Bank of Canada)|v2020-10.|w(CaOODSP)9.806221
85640|qPDF|s778 KB|uhttps://publications.gc.ca/collections/collection_2020/banque-bank-canada/FB3-5-2020-10-eng.pdf