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| 03521cam 2200469zi 4500 |
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| 001 | 9.886482 |
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| 003 | CaOODSP |
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| 005 | 20221107171431 |
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| 006 | m o d f |
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| 007 | cr cn||||||||| |
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| 008 | 200428t20202020onca ob f000 0 eng d |
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| 040 | |aCaOODSP|beng|erda|cCaOODSP |
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| 041 | 0 |aeng|beng|bfre |
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| 043 | |an-cn---|an-us--- |
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| 045 | |ay0y1 |
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| 086 | 1 |aFB3-5/2020-10E-PDF |
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| 100 | 1 |aGuo, Jinggang, |eauthor. |
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| 245 | 10|aDo protectionist trade policies integrate domestic markets? : |bevidence from the Canada-U.S. softwood lumber dispute / |cby Jinggang Guo and Craig M.T. Johnston. |
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| 264 | 1|aOttawa, Ontario, Canada : |bBank of Canada = Banque du Canada, |c2020. |
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| 264 | 4|c©2020 |
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| 300 | |a1 online resource (iii, 20 pages) : |billustrations. |
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| 336 | |atext|btxt|2rdacontent |
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| 337 | |acomputer|bc|2rdamedia |
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| 338 | |aonline resource|bcr|2rdacarrier |
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| 490 | 1 |aStaff working paper = Document de travail du personnel, |x1701-9397 ; |v2020-10 |
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| 500 | |a"Last updated: March 23, 2020." |
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| 504 | |aIncludes bibliographical references (pages 19-20). |
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| 520 | 3 |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. |
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| 546 | |aIncludes abstracts in English and French. |
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| 650 | 0|aInternational economic integration. |
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| 650 | 0|aSoftwood industry|zCanada. |
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| 650 | 0|aSoftwood industry|zUnited States. |
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| 650 | 0|aProtectionism|zUnited States. |
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| 650 | 0|aTariff on softwood|zUnited States. |
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| 650 | 6|aIntégration économique internationale. |
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| 650 | 6|aBois tendres|xIndustrie|zCanada. |
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| 650 | 6|aBois tendres |xIndustrie|zÉtats-Unis. |
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| 650 | 6|aProtectionnisme|zÉtats-Unis. |
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| 650 | 6|aBoits tendres|xDroits de douane|zÉtats-Unis. |
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| 710 | 2 |aBank of Canada. |
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| 830 | #0|aStaff working paper (Bank of Canada)|v2020-10.|w(CaOODSP)9.806221 |
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| 856 | 40|qPDF|s778 KB|uhttps://publications.gc.ca/collections/collection_2020/banque-bank-canada/FB3-5-2020-10-eng.pdf |
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