02064cas a2200253 a 4500 AALejournalIMF003131 230101c9999 xx r poo 0 0eng d 5.00 USD 9781451856019 1018-5941 BD-DhAAL BD-DhAAL Kose, Ayhan. Economic Integration, Business Cycle, and Productivity in North America / Ayhan Kose, Roberto Cardarelli. Washington, D.C. : International Monetary Fund, 2004. 1 online resource (46 pages) IMF Working Papers <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students This paper examines the effect of the major Canada-U.S. trade agreements on the dynamics of business cycles and productivity in Canada. The North American Free Trade Agreement (NAFTA) and its predecessor, the Canada-U.S. Free Trade Agreement (CUSFTA), have led to a substantial expansion of trade flows. Although common factors have played a larger role in explaining business cycles in Canada and the United States since the early 1980s, country-specific and idiosyncratic factors remain important for Canada. At the same time, while increased trade integration seems to have positively contributed to total factor productivity of Canadian industries, the persistence of structural differences between the two countries has prevented convergence of aggregate labor productivity. While these findings seem to weigh against moving toward a monetary union, they also suggest that substantial benefits could be reaped from further reducing remaining barriers to trade. Mode of access: Internet Cardarelli, Roberto. IMF Working Papers; Working Paper ; No. 2004/138 Full text available on IMF http://elibrary.imf.org/view/journals/001/2004/138/001.2004.issue-138-en.xml IMF e-Library