7 November 2016 6th Public Investors ConferenceConference to be held on 7-8 November 2016. Co-sponsored by the BIS, World Bank and Bank of Canada.
Conference to be held on 27-28 October 2016.
21 October 2016 2nd Annual Conference on the Chinese EconomyThe submission deadline is July 15, 2016. Conference to be held on 21-22 October 2016. Co-sponsored by the Bank of Canada and the University of Toronto-Rotman.
26 September 2016 Lecture by Stephen S. Poloz, Governor of the Bank of CanadaOn Monday, 26 September 2016, Stephen S. Poloz, Governor of the Bank of Canada, will deliver the Western Washington University (WWU) Paul Storer Memorial Lecture, hosted by WWU’s Border Policy Research Institute and Center for International Business.
In this paper, we argue that differences in the cost structures across sectors play an important role in firms’ decisions to adjust their prices. We develop a menu-cost model of pricing in which retail firms intermediate trade between producers and consumers.
Conventional models imply that central banks aiming to raise inflation should lower nominal rates and thus stimulate aggregate demand. However, several economists have recently challenged this conventional wisdom in favour of an alternative “neo-Fisherian’’ view under which higher nominal rates might in fact lead to higher inflation.
Between mid-2014 and early 2016, oil prices fell by roughly 65 per cent. This note documents the channels through which this oil price decline is expected to affect the global economy. One important and immediate channel is through higher expenditures, especially in net oil-importing countries.