International monetary developments of the past year have given a new importance to the financial relationships between the United States and Canada. An examination of that relationship and of Canadian experience with a floating exchange rate was undertaken at a conference sponsored by the Federal Reserve Bank of Boston in September of 1971.

Contents

Entire Proceedings (9.47MB)

Foreword
  Frank E. Morris

International Capital Markets and Economic Policy Under Flexible and Fixed Exchange Rates, 1951-70
  Richard E. Caves and Grant L. Reuber, with discussion by Ronald W. Jones and Robert A. Mundell.

Structural Changes in the Canadian-American Balance of Payments
  Andrew F. Brimmer, with discussion by Ronald I. McKinnon, John F. Helliwell and Andrew F. Brimmer.

The Relative Efficiency of the Canadian Capital Market: the Consequences for Canadian--United States Financial Relations
  Edward P. Neufeld, with discussion by Bill Hutchison, Robert M. MacIntosh, Robert Dunn, Jr. and responses by Neufeld.

The Hedging of Commercial Transactions Between U.S. and Canadian Residents: A Canadian View
  Harry C. Eastman, with discussion by Peter A.T. Campbell

The Hedging of Commercial Transactions Between U.S. and Canadian Residents: A View from the United States 
  Norman S. Fieleke, with discussion by George H. Chittenden and a response by Fieleke