Economic integration, business cycle, and productivity in North America [electronic resource] / Roberto Cardarelli and M. Ayhan Kose
- Cardarelli, Roberto
- Washington, D.C. : International Monetary Fund, 2004 (Saint-Lazare, Quebec : Canadian Electronic Library, 2008).
- Physical Description:
- 1 electronic text (46 p.) : digital file
- Additional Creators:
- Kose, M. Ayhan, International Monetary Fund, and Canadian Electronic Library (Firm)
- IMF working paper ; no. 04/138
- Restrictions on Access:
- License restrictions may limit access.
- This paper examines the effect of the major Canada-U.S. trade agreements on the dynamics of business cycles and productivity in Canada. The North American Free Trade Agreement (NAFTA) and its predecessor, the Canada-U.S. Free Trade Agreement (CUSFTA), have led to a substantial expansion of trade flows. Although common factors have played a larger role in explaining business cycles in Canada and the United States since the early 1980s, country specific and idiosyncratic factors remain important for Canada. At the same time, while increased trade integration seems to have positively contributed to total factor productivity of Canadian industries, the persistence of structural differences between the two countries has prevented convergence of aggregate labor productivity. While these findings seem to weigh against moving toward a monetary union, they also suggest that substantial benefits could be reaped from further reducing remaining barriers to trade.
- Cover title.
Issued as part of the Canadian Electronic Library, Documents collection, and Canadian public policy collection.
- Bibliography Note:
- Includes bibliographical references (p. 26-31).
- Technical Details:
- Mode of access: World Wide Web.
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