Canada played an important role in the postwar establishment of the International Monetary Fund (IMF), yet it was also … of a floating, market-determined exchange rate. Although the IMF heavily criticized this decision, Canada’s trail … floating exchange rates, which had predicted significant volatility. In May of 1962, Canada returned to the BrettonWoods system …

policies of an actual central bank, the Bank of Canada. Finally, the paper considers the role of fiscal policy in an open …

monetary policy increase cross-border credit to Canada. Our study highlights the spillovers of domestic monetary policy on …