Measuring regional effects of monetary policy in Canada

References

• Amano , R and Van Norden , S . A forecasting equation for the Canada–US dollar exchange rate . Proceedings of a Conference Held at the Bank of Canada . 22–23 June 1992 . pp. 207 – 65 .
   Google Scholar
• Armour , J , Engert , W and Fung , B . 1996 . Overnight rate innovations as a measure of monetary policy shocks in vector autoregressions Bank of Canada Working Paper No. 96–4
   Google Scholar
• Bank of Montreal . 1998 . Asian crisis: minor flu or major malady? . Economic Research and Analysis , Special Report, January
   Google Scholar
• Bayoumi , T and Eichengreen , B . 1994 . Monetary and exchange rate arrangements for NAFTA . Journal of Development Economics , 43 : 125 – 65 .
   Web of Science ®Google Scholar
• Beare , JB . 1976 . A Monetarist model of regional business cycles . Journal of Regional Science , 16 : 57 – 63 .
   Web of Science ®Google Scholar
• Beauregard-Tellier , F , Johnson , M and Pichette , L . 1999 . The Effects of the Yield Spread on Economic Activity: A Disaggregated Analysis , Research Department, Bank of Canada . RM-00-006
   Google Scholar
• Bennet , P . 1990 . The influence of financial changes on interest rates and monetary policy: a review of the evidence . Federal Reserve Bank of New York Quarterly Review , : 8 – 30 . Spring
   Google Scholar
• Bernanke , B and Gertler , M . 1995 . Inside the black box: the credit channel of monetary policy transmission . Journal of Economic Perspectives , 9 : 27 – 48 .
   Web of Science ®Google Scholar
• Britton , E and Whitley , J . 1997 . Comparing the monetary transmission mechanism in France, Germany and the United Kingdom: some issues and results . Bank of England Quarterly Bulletin , 37 : 152 – 62 .
   Google Scholar
• Carlino , G and DeFina , R . 1998 . The differential regional effects of monetary policy . The Review of Economics and Statistics , 4 : 572 – 87 .
   Google Scholar
• Carlino , G and DeFina , R . 1999 . Do states respond differently to changes in monetary policy? . Business Review , : 17 – 27 . July
   Google Scholar
• Cheung , Y and Lai , KS . 1993 . Finite-sample sizes of Johansen's likelihood ratio test for cointegration . Oxford Bulletin of Economics and Statistics , 55 : 313 – 28 .
   Web of Science ®Google Scholar
• Christiano , L , Eichenbaum , M and Evans , C . 1998 . Monetary policy shocks: what have we learned and to what end? NBER Working Paper No. W6400
   Google Scholar
• Clausen , V and Hayo , B . 2006 . Asymmetric monetary policy effects in the EU . Applied Economics , 38 : 1123 – 34 .
   Web of Science ®Google Scholar
• Clinton , K . 1996 . “ Bank of Canada cash management: the main techniques for implementing monetary policy ” . In The Transmission of Monetary Policy in Canada , 35 – 49 . Ottawa : Bank of Canada .
   Google Scholar
• Courchene , T and Harris , R . 1999a . Canada and a North American Monetary Union . Canadian Business Economics , 7 : 5 – 14 .
   Google Scholar
• Courchene , T and Harris , R . 1999b . From Fixing to Monetary Union: Options for North American Currency Integration , C.D. Howe Institute Commentary No. 127 Toronto
   Google Scholar
• Doan , T . 1996 . RATS User's Manual , Evanston, IL : Estima .
   Google Scholar
• Dodge , D . 2002 . “ The interaction between monetary and fiscal policies ” . In Speeches and Statements , Bank of Canada .
   Google Scholar
• Dornbusch , R , Favero , CA and Giavazzi , F . 1998 . A red letter day? CEPR Working Paper No. 1804
   Google Scholar
• Enders , W . 1995 . Applied Econometric Time Series , New York : Wiley .
   Google Scholar
• Ericsson , NR , Hendry , DF and Mizon , GE . 1998 . Exogeneity, cointegration, and economic policy analysis . Journal of Business and Economic Statistics , 16 : 370 – 87 .
   Web of Science ®Google Scholar
• Fung , B and Yuan , M . 2000 . “ Measuring the stance of Monetary Policy ” . In Money, Monetary Policy and Transmission Mechanisms , 193 – 219 . Ottawa : Bank of Canada .
   Google Scholar
• Ganley , J and Salmon , C . 1997 . The industrial impact of monetary policy shocks: some stylized facts Bank of England Working Paper No. 68
   Google Scholar
• Gaston , N and Trefler , D . 1997 . The labour market consequences of the Canada–US free trade agreement . Canadian Journal of Economics , 30 : 18 – 41 .
   Web of Science ®Google Scholar
• Gertler , M and Gilchrist , S . 1993 . The role of credit market imperfections in the monetary transmission mechanism: arguments and evidence . Scandinavian Journal of Economics , 95 : 43 – 64 .
   Web of Science ®Google Scholar
• Gertler , M and Gilchrist , S . 1994 . Monetary policy, business cycles and the behaviour of small manufacturing firms . Quarterly Journal of Economics , 109 : 309 – 40 .
   Web of Science ®Google Scholar
• Gonzalo , J and Pitarakis , J . 1994 . Cointegration analysis in large systems , Boston University . mimeo
   Google Scholar
• Hansen , H and Juselius , K . 1995 . Cointegration Analysis of Time Series , Evanston, IL : Estima .
   Google Scholar
• Hayo , B and Uhlenbrock , B . 2000 . “ Sectoral effects of monetary policy in Germany ” . In Regional Aspects of Monetary Policy in Europe , Edited by: von Hagen , J and Waller , C . 127 – 158 . Dordrecht : Kluwer Academic .
   Google Scholar
• Hejazi , W , Marr , M and Parkinson , J . 2000 . Cointegration and Canada–US team structures: does accounting for structural breaks make a difference? . Canadian Journal of Administrative Sciences , 17 : 342 – 55 .
   Google Scholar
• Hejazi , W and Pasalis , J . 1998 . Term structure forecasts of industry level GDP , University of Toronto . mimeo
   Google Scholar
• Holman , JA and Newman , RM . 2002 . Evidence on the cross country transmission of monetary shocks . Economics Letters , 34 : 1837 – 57 .
   Google Scholar
• Johansen , S . 1991 . Estimation and hypothesis testing of cointegration vectors in Gaussion vector autoregressive models . Econometrica , 59 : 231 – 54 .
   Google Scholar
• Laidler , D and Aba , S . 2002 . Productivity and the dollar: commodities and the exchange rate connection, Commentary , Toronto, ON : C.D. Howe Institute .
   Google Scholar
• McCallum , J . 1995 . National borders matter: Canada–US regional trade patterns . American Economic Review , 85 : 615 – 23 .
   Web of Science ®Google Scholar
• McCallum , J . 1998 . “ Canada, the Euro, and Exchange Rate Fixity ” . In Current Analysis , Royal Bank of Canada .
   Google Scholar
• Millar , JM . 1997 . The effects of budget rules on fiscal performance and macroeconomic stabilization , Bank of Canada . Working Paper No. 97–15
   Google Scholar
• Moersch , M . 1996 . Predicting output with a money market spread . Journal of Economics and Business , 48 : 185 – 99 .
   Google Scholar
• Montador , B . 1996 . “ The implementation of monetary policy in Canada ” . In The Transmission of Monetary Policy in Canada , Bank of Canada .
   Google Scholar
• Mundell , R . 1961 . A theory of optimum currency areas . American Economic Review , 51 : 657 – 65 .
   Web of Science ®Google Scholar
• Murray , J , Schembri , L and St-Amant , P . 2002 . Revisiting the Case for Flexible Exchange Rates in North America , International Department, Bank of Canada .
   Google Scholar
• Oliner , S and Rudebusch , G . 1996 . Is there a broad credit channel for monetary policy? . Federal Reserve Bank of San Francisco Economic Review , 1 : 3 – 13 .
   Google Scholar
• Phillips , PCB . 1998 . Impulse response and forecast error variance asymptotics in nonstationary VARs . Journal of Econometrics , 83 : 425 – 44 .
   Google Scholar
• Ramos , R , Clar , M and Surinach , J . 2003 . A dynamic analysis of asymmetric shocks in EU manufacturing . Applied Economics , 35 : 881 – 92 .
   Web of Science ®Google Scholar
• Romer , D . 2000 . Keynesian macroeconomics without the LM curve . Journal of Economic Perspectives , 14 : 149 – 71 .
   Web of Science ®Google Scholar
• Safaei , J and Cameron , N . 2003 . Credit channel and credit shocks in Canadian macrodynamics–a structural VAR approach . Applied Economics , 13 : 267 – 77 .
   Google Scholar
• Sims , C . 1980 . Macroeconomics and reality . Econometrica , 70 : 1 – 48 .
   Web of Science ®Google Scholar
• Statistics Canada . 1998 . Interprovincial trade in Canada, 1984–1996 Catalogue No. 15-546-XPE
   Google Scholar
• Statistics Canada . 2000 . Interprovincial trade in Canada, 1992–1998 Catalogue No. 15-546-XPE
   Google Scholar
• Thiessen , G . 1994 . Uncertainty and the transmission of monetary policy in Canada . Bank of Canada Review , : 41 – 58 . Summer
   Google Scholar
• Thiessen , G . 2001 . “ Canada's economic future: what have we learned from the 1990s?, mimeo ” . In Remarks to the Canadian Club of Toronto, January 22 , Department of Economics, University of Iowa .
   Google Scholar
• Walsh , CE . 1998 . Monetary Theory and Policy , Cambridge, MA : MIT Press .
   Google Scholar
• Zhang , Z , Sato , K and McAleer , M . 2004 . Is a monetary union feasible for East Asia? . Applied Economics , 36 : 1031 – 43 .
   Web of Science ®Google Scholar