Posts

• May 1, 2001

  Monetary Policy Report – May 2001

  At the time of the November 2000 Monetary Policy Report, although signs of the anticipated slowing of the U.S. economy were becoming apparent, the momentum of the global economy was considered strong.

  Content Type(s): Publications, Monetary Policy Report
• May 1, 2001

  Technical Background Document 1

  Technical data relating to the 2001 target renewal.
• May 1, 2001

  Technical Background Document 2

  Technical data relating to the 2001 target renewal.
• May 1, 2001

  Renewal of the Inflation-Control Target (May 2001)

  Commentary relating to the 2001 target renewal.

  Content Type(s): Background materials Research Topic(s): Inflation and prices, Monetary policy

• How Rigid Are Nominal-Wage Rates?

  Staff Working Paper 2001-8 Allan Crawford

  This study examines the effect of nominal-wage rigidities on wage growth in Canada using a hazard model and micro data for union contracts. The hazard model is specified in a way that allows considerable flexibility in the shape of the estimated notional wage-change distribution.

  Content Type(s): Staff research, Staff working papers Research Topic(s): Inflation targets, Labour markets JEL Code(s): E, E2, E24, E5, E52, E6, E61

• Downward Nominal-Wage Rigidity: Micro Evidence from Tobit Models

  Staff Working Paper 2001-7 Allan Crawford, Geoff Wright

  This paper uses Tobit models and data for union contracts to examine the extent of downward nominal-wage rigidity in Canada. To be consistent with important stylized facts, the models allow the variance of the notional wage-change distribution to be time-varying and test for menu-cost effects.

  Content Type(s): Staff research, Staff working papers Research Topic(s): Inflation targets, Labour markets JEL Code(s): E, E2, E24, E5, E52, E6, E61
• May 1, 2001

  Release of the Monetary Policy Report

  Opening statement David Dodge

  This morning, we released our spring 2001 Monetary Policy Report. In the six months since the November 2000 Report, the pace of economic expansion in Canada has slackened, primarily because the economic slowdown in the United States has been more pronounced than anticipated. The extent of the easing in economic activity in Canada is the […]

  Content Type(s): Press, Speeches and appearances, Opening statements