Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/75973
Authors: 
Laidler, David
Year of Publication: 
2002
Series/Report no.: 
CESifo Working Paper 773
Abstract: 
The debate about Canadian-U.S. monetary integration is surveyed. The choice is among overall monetary orders,rather than exchange rate regimes and questions of policy credibility and political accountability are crucial. Canada's recent economic performance under inflation targets, and arguments that the flexible exchange rate has undermined real economic performance are assessed. The most economically attractive among alternative monetary orders, the adoption by Canada of the US dollar with provision for meaningful Canadian input into policy decisions and supervision of the financial system - is not politically attainable. Intermediate arrangements are unattractive and clearly inferior to Canada's current monetary order.
Subjects: 
monetary policy
exchange rates
central banks
inflation.
JEL: 
E42
E52
E58
F33
Document Type: 
Working Paper

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