Intercity and international price comparisons

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  • Articles and reports: 11-626-X2014035
    Description:

    This Economic Insights article presents new data on the relative prices of Canadian and U.S. products, focusing on various classes of goods and services. It also evaluates the extent to which changes in these relative prices correlate with movements in the nominal exchange rate. The comparative price estimates are based on data from Statistics Canada’s Purchasing Power Parity program.

    Release date: 2014-06-02

  • Articles and reports: 11-626-X2012002
    Geography: Canada
    Description:

    This Economic Insight presents new data on the relative prices of Canadian and U.S. products, focusing on various classes of goods and services. It also evaluates the extent to which changes in these relative prices correlate with movements in the nominal exchange rate. The comparative price estimates are based on data from Statistics Canada's Purchasing Power Parity program.

    Release date: 2012-01-04

  • Articles and reports: 11F0027M2006043
    Geography: Canada
    Description:

    The paper examines the pricing behaviour of 81 Canadian manufacturing industries from 1974 to 1996. It explores the domestic and foreign factors that affect price formation in Canada and the circumstances in which Canadian prices respond to foreign (U.S.) influences (the law of one price), as opposed to domestic factors (i.e., labour, energy costs and productivity growth). It finds that: (1) Canadian manufacturing prices are, on average, set using a mixture of a cost mark-up pricing rule and the law-of-one-price rule: both domestic factors (such as input prices and productivity) and foreign factors (such as competing U.S. prices) exert important influences on Canadian prices; (2) Canadian prices are more sensitive to U.S. prices if the industry faces higher import competition and if home and foreign products are less differentiated. Compared to prices of domestic products, prices of imported foreign products are more responsive to foreign prices. However, the price of imports also responds to Canadian prices; though this pricing-to-market phenomenon is reduced as imports increase in importance; (3) Industry differences exist. Domestic prices respond more to productivity changes in industries where competition is more intense and where products are more homogeneous. Imports respond more to domestic factors when they account for a smaller share of the domestic market; (4) As the pressure from foreign markets increases, in a period of an appreciating Canadian dollar, changes in prices are influenced more by fluctuations in foreign prices. In comparison, when the pressure from foreign markets decreases, in a period of a depreciating Canadian dollar, changes in Canadian prices are more responsive to input cost changes at home. Disequilibria that were generated by previous shocks are overcome more quickly during periods when the exchange rate appreciated.

    Release date: 2006-11-08

  • Articles and reports: 11F0027M2006041
    Geography: Canada
    Description:

    During the post-1970 period, Canadian manufacturing prices have alternately increased and fallen relative to U.S. prices' just the reverse of the cycle in the Canada' U.S. exchange rate. But not all manufacturing industries have experienced the same amplitude of relative price changes. This paper examines the industry characteristics that are related to the shifts in competitiveness, measured as the relative price ratio between Canadian prices and U.S. prices adjusted by the exchange rate. We find that relative factor input costs and relative productivity growth are the two most important factors influencing changes in relative Canada' U.S. prices. Competitive pressures emanating from trade are important determinants of the extent to which relative productivity differences are passed through to cross-country relative prices in the manufacturing sector. We also find that the magnitude of domestic market competition and export intensity affects the short-run relative price shifts over the cycle of exchange rate.

    Release date: 2006-06-28

  • Articles and reports: 11F0027M2005029
    Geography: Canada
    Description:

    This paper uses a detailed industry-level data base of industry prices in the manufacturing sector in Canada and the United States to investigate whether prices are co-integrated in the two countries and whether the relationship between the two sets of prices follows the law of one price. We find that aggregate Canadian price movements track U.S. price movements closely, but not perfectly, in the long run. But there are substantial deviations from the law of one price in the short run. Moreover, many individual industries deviate from the law of one price. These deviations are related to the degree of tariff protection and to the degree of product differentiation at the industry level.

    Release date: 2005-02-15

  • Articles and reports: 11-624-M2004006
    Geography: Canada
    Description:

    The paper examines whether Canadians were paying more than the Americans for the goods and services they purchase, based on more than 160 product price data for each of the five years under study (1985, 1990, 1993, 1996, 1999).

    Release date: 2004-04-27

  • Articles and reports: 11-010-X20030056517
    Geography: Canada
    Description:

    The paper examines the price differences between Canada and the United States for highly standardized products and for subsets of products with significant differences.

    Release date: 2003-05-22

  • Articles and reports: 11F0027M2002002
    Geography: Canada
    Description:

    The paper examines the possible explanations for deviations from purchasing power parity (PPP) between Canada and the United States in the 1980s and 1990s and investigates both the productivity effect and the underlying PPP assumption for tradable goods.

    Release date: 2002-05-30
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  • Articles and reports: 11-626-X2014035
    Description:

    This Economic Insights article presents new data on the relative prices of Canadian and U.S. products, focusing on various classes of goods and services. It also evaluates the extent to which changes in these relative prices correlate with movements in the nominal exchange rate. The comparative price estimates are based on data from Statistics Canada’s Purchasing Power Parity program.

    Release date: 2014-06-02

  • Articles and reports: 11-626-X2012002
    Geography: Canada
    Description:

    This Economic Insight presents new data on the relative prices of Canadian and U.S. products, focusing on various classes of goods and services. It also evaluates the extent to which changes in these relative prices correlate with movements in the nominal exchange rate. The comparative price estimates are based on data from Statistics Canada's Purchasing Power Parity program.

    Release date: 2012-01-04

  • Articles and reports: 11F0027M2006043
    Geography: Canada
    Description:

    The paper examines the pricing behaviour of 81 Canadian manufacturing industries from 1974 to 1996. It explores the domestic and foreign factors that affect price formation in Canada and the circumstances in which Canadian prices respond to foreign (U.S.) influences (the law of one price), as opposed to domestic factors (i.e., labour, energy costs and productivity growth). It finds that: (1) Canadian manufacturing prices are, on average, set using a mixture of a cost mark-up pricing rule and the law-of-one-price rule: both domestic factors (such as input prices and productivity) and foreign factors (such as competing U.S. prices) exert important influences on Canadian prices; (2) Canadian prices are more sensitive to U.S. prices if the industry faces higher import competition and if home and foreign products are less differentiated. Compared to prices of domestic products, prices of imported foreign products are more responsive to foreign prices. However, the price of imports also responds to Canadian prices; though this pricing-to-market phenomenon is reduced as imports increase in importance; (3) Industry differences exist. Domestic prices respond more to productivity changes in industries where competition is more intense and where products are more homogeneous. Imports respond more to domestic factors when they account for a smaller share of the domestic market; (4) As the pressure from foreign markets increases, in a period of an appreciating Canadian dollar, changes in prices are influenced more by fluctuations in foreign prices. In comparison, when the pressure from foreign markets decreases, in a period of a depreciating Canadian dollar, changes in Canadian prices are more responsive to input cost changes at home. Disequilibria that were generated by previous shocks are overcome more quickly during periods when the exchange rate appreciated.

    Release date: 2006-11-08

  • Articles and reports: 11F0027M2006041
    Geography: Canada
    Description:

    During the post-1970 period, Canadian manufacturing prices have alternately increased and fallen relative to U.S. prices' just the reverse of the cycle in the Canada' U.S. exchange rate. But not all manufacturing industries have experienced the same amplitude of relative price changes. This paper examines the industry characteristics that are related to the shifts in competitiveness, measured as the relative price ratio between Canadian prices and U.S. prices adjusted by the exchange rate. We find that relative factor input costs and relative productivity growth are the two most important factors influencing changes in relative Canada' U.S. prices. Competitive pressures emanating from trade are important determinants of the extent to which relative productivity differences are passed through to cross-country relative prices in the manufacturing sector. We also find that the magnitude of domestic market competition and export intensity affects the short-run relative price shifts over the cycle of exchange rate.

    Release date: 2006-06-28

  • Articles and reports: 11F0027M2005029
    Geography: Canada
    Description:

    This paper uses a detailed industry-level data base of industry prices in the manufacturing sector in Canada and the United States to investigate whether prices are co-integrated in the two countries and whether the relationship between the two sets of prices follows the law of one price. We find that aggregate Canadian price movements track U.S. price movements closely, but not perfectly, in the long run. But there are substantial deviations from the law of one price in the short run. Moreover, many individual industries deviate from the law of one price. These deviations are related to the degree of tariff protection and to the degree of product differentiation at the industry level.

    Release date: 2005-02-15

  • Articles and reports: 11-624-M2004006
    Geography: Canada
    Description:

    The paper examines whether Canadians were paying more than the Americans for the goods and services they purchase, based on more than 160 product price data for each of the five years under study (1985, 1990, 1993, 1996, 1999).

    Release date: 2004-04-27

  • Articles and reports: 11-010-X20030056517
    Geography: Canada
    Description:

    The paper examines the price differences between Canada and the United States for highly standardized products and for subsets of products with significant differences.

    Release date: 2003-05-22

  • Articles and reports: 11F0027M2002002
    Geography: Canada
    Description:

    The paper examines the possible explanations for deviations from purchasing power parity (PPP) between Canada and the United States in the 1980s and 1990s and investigates both the productivity effect and the underlying PPP assumption for tradable goods.

    Release date: 2002-05-30
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