Does the Canadian economy suffer from Dutch disease?

被引：46

作者：

Beine, Michel ^{[3
,4
]}

Bos, Charles S. ^{[1
,2
]}

Coulombe, Serge ^{[5
]}

机构：

[1] Vrije Univ Amsterdam, Tinbergen Inst, NL-1081 HV Amsterdam, Netherlands

[2] Vrije Univ Amsterdam, Fac Econ & OR, NL-1081 HV Amsterdam, Netherlands

[3] Univ Luxembourg, L-1511 Luxembourg, Luxembourg

[4] CES IFO, L-1511 Luxembourg, Luxembourg

[5] Univ Ottawa, Dept Econ, Ottawa, ON K1N 6N5, Canada

来源：

RESOURCE AND ENERGY ECONOMICS | 2012年 / 34卷 / 04期

关键词：

Dutch disease; Natural resources; Exchange rates; Currency components; Bayesian econometrics; DYNAMIC HETEROGENEOUS PANELS; STOCHASTIC VOLATILITY; NATURAL-RESOURCES; BOOMING SECTOR; DATA MODELS; GROWTH; TRADE; CURSE; OIL;

D O I：

10.1016/j.reseneeco.2012.05.002

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

We argue that the failure to disentangle the evolution of the Canadian currency from the U.S. currency leads to potentially incorrect conclusions regarding the case of Dutch disease in Canada. We propose a new approach that is aimed at extracting both currency components and energy- and commodity-price components from observed exchange rates and prices. We first analyze the separate influence of commodity prices on the Canadian and the U.S. currency components. We then estimate the separate impact of the two currency components on the shares of manufacturing employment in Canada. We show that between 33 and 39 per cent of the manufacturing employment loss that was due to exchange rate developments between 2002 and 2007 is related to the Dutch disease phenomenon. The remaining proportion of the employment loss can be ascribed to the weakness of the U.S. (C) 2012 Elsevier B.V. All rights reserved.

引用

页码：468 / 492

页数：25

共 45 条

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