Using a large sample of advanced and emerging market economies over the period 1999–2012, we examine the effectiveness of macroprudential policies (MPPs) in managing cros[...]

This paper investigates the quantitative importance of the expenditure-switching effect in three small open economies: Australia, Canada and the UK, by developing and est[...]

We explore the role of product market structure on exchange rate pass-through and currency of invoicing in international trade, using very detailed transaction-level data[...]

Several empirical studies suggest that exchange rate pass-through has declined in recent years among industrialized countries. Results for Canada also indicate that impor[...]

We offer a theory of financial contagion based on the information choice of investors after observing a financial crisis elsewhere. We study global coordination games of [...]

Dealers trading in a limit order market must choose both the order aggressiveness and the quantity for their orders. Since little research has considered how dealers make[...]

In theory, nominal exchange rate movements can lead to "expenditure switching" when they generate changes in the relative prices of goods across countries. This paper exp[...]

This paper compares monetary policy effects in New-Keynesian models of small open and closed economies fit to Canada. A monetary policy rule allows the central bank to sy[...]

The classical dichotomy predicts that all of the time-series variance in the aggregate real exchange rate is accounted for by non-traded goods in the consumer price index[...]

We offer a model of financial intermediaries as safe-asset providers in an international context. Investors from countries exposed to expropriation risk seek to invest in[...]