Accounting爁or燫eal燛xchange.PDF

  Staff Working Paper/Document de travail du personnel 2017‐12  Accounting for Real Exchange  Rates Using Micro‐Data        by Mario J. Crucini and Anthony Landry  Bank of Canada staff working papers provide a forum for staff to publish work‐in‐progress research independently from the Bank’s Governing  Council. This research may support or challenge prevailing policy orthodoxy. Therefore, the views expressed in this paper are solely those of the  authors and may differ from official Bank of Canada views. No responsibility for them should be attributed to the Bank.  www.bank‐banque‐canada.ca    Bank of Canada Staff Working Paper 2017-12 April 2017 Accounting for Real Exchange Rates Using Micro-Data by 1 2 Mario J. Crucini and Anthony Landry 1Vanderbilt University and NBER mario.j.crucini@ 2Canadian Economic Analysis Department Bank of Canada Ottawa, Ontario, Canada K1A 0G9 anthonylandry@bankofcanada.ca