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Econ 317 Data Assignment 5 Go to the website of Federal Reserve Economic Data (FRED) at https://research.stlouisfed.org/fred2/ and download annual data for Consumer Price Indices

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Econ 317 Data Assignment 5 Go to the website of Federal Reserve Economic Data (FRED) at https://research.stlouisfed.org/fred2/ and download annual data for Consumer Price Indices for the United States, Japan, and Canada. In addition, download annual data for the US. dollar exchange rate with the Canadian dollar and Japanese yen going back to 1971. Put each data series into a separate column in a new spreadsheet. (1) Calculate the percent change in the spot exchange rate for each year. Do this for Japan and Canada with respect to the United States. In both cases, when did the largest appreciation occur? The largest depreciation? (2) Compute the difference in annual rate of ination in these two pairs of countries (Canada and the United States, and Japan and the United States) and see if it is equal to the annual change in the exchange rate for the pair

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