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of the indirect beneﬁts of foreign ownership Results in this paper provide
Total valueadded 000 in domestically owned plants divided by total
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adjustment aggregate Allophone analysis assumed assumption average Bank of Canada base behaviour beneﬁts Canadian Economics Association canadienne capital capital punishment cent coefﬁcients cost countries curve deﬁned deﬁnition demand difﬁculties discussion domestic econometric effect efﬁciency elasticity empirical employment equation equilibrium estimates exogenous expected expenditure factor ﬁgures ﬁnal ﬁnance ﬁnancial ﬁnd ﬁrms ﬁrst ﬁscal ﬁxed exchange rate ﬂexible ﬂoating ﬂows foreign govemment growth harvesting hypothesis important income increase industry inﬂation inﬂuence input interest rate investment Journal labour marginal monetarist monetary policy money supply nominal ofthe optimal output paper parameters payments period Phillips curve Pigovian tax pollution private sector problem production function proﬁts public sector rational expectations RDX2 reﬂect regression resource returns to scale satisﬁed short-run signiﬁcant speciﬁcation Statistics Canada structure Table tariff theory tion trade University of Toronto variables wage settlements zero