open economy model for Canada that decomposes output fluctuations into sources identifiable with world and country …-specific disturbances. We find that the onset, depth and duration of output collapse in both Canada and the U.S. are primarily attributable …

United States and Canada, 1870-1913. Both countries adhered to the international gold standard. This meant that the domestic … response to supply' shocks. For Canada the results are murkier. As in the U.S., the money supply shocks before 1896 are … shocks play a larger role in determining output behavior in Canada. The key conclusion of our analysis is that the simple …

open economy model for Canada that decomposes output fluctuations into sources identifiable with world and country …-specific disturbances. We find that the onset, depth and duration of output collapse in both Canada and the U.S. are primarily attributable …

United States and Canada, 1870-1913. Both countries adhered to the international gold standard. This meant that the domestic … response to supply' shocks. For Canada the results are murkier. As in the U.S., the money supply shocks before 1896 are … shocks play a larger role in determining output behavior in Canada. The key conclusion of our analysis is that the simple …