Table 2
Average annual changes in tariff rates and real exchange
rates
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| 1984 to 1990 | 1990 to 1996 | 2000 to 2006 | ||||
|---|---|---|---|---|---|---|
| percent | standard deviation | percent | standard deviation | percent | standard deviation | |
| Nominal US/Canada exchange rate | 1.4 | … | -2.1 | … | 3.5 | … |
| Real US/Canada exchange rate | 1.6 | 1.5 | -1.9 | 1.5 | 5.5 | 3.1 |
| Canadian tariff against U.S. | -0.4 | 0.3 | -0.8 | 0.4 | … | … |
| U.S. tariff against Canada | -0.2 | 0.5 | -0.4 | 0.7 | … | … |
| Average tariff between Canada and U.S. | -0.3 | 0.3 | -0.6 | 0.5 | … | … |
Note(s):
Average annual changes are calculated as differences in the variables
between the first and last years, divided by the number of years.
Source(s):
Authors' compilation from various data sources: Statistics Canada's
CANSIM Table 176-0064, NBER productivity
database, Statistics Canada's gross output deflator, and Trefler's
(2004) tariff rates.
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