Table 1
Summary statistics of exchange rates and tariff changes
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| 1979 to 1984 | 1984 to 1990 | 1990 to 1996 | ||||
|---|---|---|---|---|---|---|
| Average annual changes | Standard deviations | Average annual changes | Standard deviations | Average annual changes | Standard deviations | |
| percent | ||||||
| Nominal US/Canada exchange rate | -1.63 | 0.00 | 1.42 | 0.00 | -2.06 | 0.00 |
| Real US/Canada exchange rate | -0.19 | 2.06 | 1.57 | 1.54 | -1.85 | 1.48 |
| U.S. tariff against Canada | -0.20 | 0.34 | -0.24 | 0.34 | -0.39 | 0.43 |
| Canadian tariff against US | -0.25 | 0.45 | -0.42 | 0.53 | -0.84 | 0.66 |
| Average tariff between Canada and US | -0.22 | 0.30 | -0.33 | 0.34 | -0.62 | 0.51 |
Note(s):
Average annual changes are calculated as differences between the first
and last years of the variable, divided by the number of years. Tariffs for 1980 are
used for 1979.
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