00000nam 2200000zi 4500 9.903144 CaOODSP 20221107180149 m o d f cr mn||||||||| 210908t20212021onca ob f000 0 eng d CaOODSP eng rda CaOODSP FB3-5/2021-36E-PDF Matveev, Dmitry, author. Tariffs and the exchange rate : evidence from Twitter / by Dmitry Matveev and Francisco Ruge-Murcia. Ottawa, Ontario, Canada : Bank of Canada = Banque du Canada, 2021. ©2021 1 online resource (ii, 27 pages) : colour illustrations. text txt rdacontent computer c rdamedia online resource cr rdacarrier Staff working paper = Document de travail du personnel, 1701-9397 ; 2021-36 "Last updated: July 21, 2021." Includes bibliographical references (pages 26-27). "This paper examines the conjecture that an increase in tariffs in a flexible exchange rate regime leads to the appreciation of the local currency. We focus on the reaction of the exchange rate market to tweets by US President Donald Trump regarding possible tariff increases on Canadian and Mexican goods. The anticipation of trade restrictions leads to the US dollar appreciating by 0.023% and 0.051% vis-à-vis the Canadian dollar and Mexican peso within five minutes of the tweet, and comparable percentages for forward rates up to five years ahead. Exchange rate appreciation may mitigate the expenditure-switching intended by the protectionist policy"--Abstract, page ii. Trump, Donald, 1946- Language. Trump, Donald, 1946- Langage. Foreign exchange rates Econometric models. Tariff Econometric models. Microblogs Econometric models. Taux de change Modèles économétriques. Tarif douanier Modèles économétriques. Micromessages Modèles économétriques. Bank of Canada, issuing body. Staff working paper (Bank of Canada) 2021-36. (CaOODSP)9.806221 PDF 804 KB https://publications.gc.ca/collections/collection_2021/banque-bank-canada/FB3-5-2021-36-eng.pdf