The Effects of Recent Relative Price Movements on the Canadian Economy
نویسنده
چکیده
• A sharp rise in real commodity prices has boosted Canada’s terms of trade and exchange rate over the past five years. These relative price movements, underpinned by a strong global demand for commodities, have generated substantial real income gains, reduced Canadian cost competitiveness, and changed relative factor prices in favour of capital, thereby stimulating final domestic demand, depressing real net exports, and inducing intersectoral transfers of resources.
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