Inflation targets - Bank of Canada
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Bank of Canada RSS Feedsen2024-03-29T14:26:44+00:00Limited Commitment, Endogenous Credibility and the Challenges of Price-level Targeting
https://www.bankofcanada.ca/2018/12/staff-working-paper-2018-61/
This paper studies the cost of limited commitment when a central bank has the discretion to adjust policy whenever the costs of honoring its past commitments become high. Specifically, we consider a central bank that seeks to implement optimal policy in a New Keynesian model by committing to a price-level target path.2018-12-19T08:47:46+00:00enLimited Commitment, Endogenous Credibility and the Challenges of Price-level Targeting2018-12-19CredibilityInflation targetsMonetary policy frameworkStaff Working Paper 2018-61https://www.bankofcanada.ca/wp-content/uploads/2018/12/swp2018-61.pdfLimited Commitment, Endogenous Credibility and the Challenges of Price-level TargetingGino CateauMalik ShukayevDecember 2018EE3E31E5E52Credibility, Flexibility and Renewal: The Evolution of Inflation Targeting in Canada
https://www.bankofcanada.ca/2018/12/staff-discussion-paper-2018-18/
In 1991, Canada became the second country to adopt an inflation target as a central pillar of its monetary policy framework. The regime has proven much more successful than initially expected, both in achieving price stability and in stabilizing the real economy against a wide range of shocks.2018-12-18T14:08:33+00:00enCredibility, Flexibility and Renewal: The Evolution of Inflation Targeting in Canada2018-12-18CredibilityInflation targetsMonetary policyMonetary policy frameworkStaff Discussion Paper 2018-18https://www.bankofcanada.ca/wp-content/uploads/2018/12/sdp2018-18.pdfCredibility, Flexibility and Renewal: The Evolution of Inflation Targeting in CanadaThomas J. CarterRhys R. MendesLawrence L. SchembriDecember 2018EE5E52E58E6E61Choosing the Best Monetary Policy Framework for Canada
https://www.bankofcanada.ca/2018/11/choosing-best-monetary-policy-framework-canada/
Senior Deputy Governor Carolyn A. Wilkins discusses public policy issues around monetary policy frameworks and how those issues have become more complex in the post-global financial crisis world.2018-11-20T09:31:34+00:00Choosing the Best Monetary Policy Framework for Canada2018-11-20Carolyn A. WilkinsEvaluating the Bank of Canada Staff Economic Projections Using a New Database of Real-Time Data and Forecasts
https://www.bankofcanada.ca/2018/10/staff-working-paper-2018-52/
We present a novel database of real-time data and forecasts from the Bank of Canada’s staff economic projections. We then provide a forecast evaluation for GDP growth and CPI inflation since 1982: we compare the staff forecasts with those from commonly used time-series models estimated with real-time data and with forecasts from other professional forecasters and provide standard bias tests.2018-10-31T11:58:14+00:00enEvaluating the Bank of Canada Staff Economic Projections Using a New Database of Real-Time Data and Forecasts2018-10-31Econometric and statistical methodsEconomic modelsInflation targetsMonetary policyStaff Working Paper 2018-52https://www.bankofcanada.ca/wp-content/uploads/2018/10/swp2018-52.pdfEvaluating the Bank of Canada Staff Economic Projections Using a New Database of Real-Time Data and ForecastsJulien ChampagneGuillaume Poulin-BellisleRodrigo SekkelNovember 2018CC3C32EE1E17E3E37Investing in Monetary Policy Independence in a Small Open Economy
https://www.bankofcanada.ca/2018/09/investing-monetary-policy-independence-small-open-economy/
Governor Poloz discusses policies that can help central banks keep the ability to pursue independent monetary policy in a financially integrated global economy.2018-09-08T10:03:26+00:00Investing in Monetary Policy Independence in a Small Open Economy2018-09-08Stephen S. PolozCésaire MehAn Update on Canada’s Economic Resilience
https://www.bankofcanada.ca/2018/09/update-canadas-economic-resilience/
Senior Deputy Governor Wilkins discusses economic developments since the July Monetary Policy Report and Governing Council’s deliberations leading to yesterday’s policy rate decision.2018-09-06T10:51:35+00:00An Update on Canada’s Economic Resilience2018-09-06Carolyn A. WilkinsLet Me Be Clear: From Transparency to Trust and Understanding
https://www.bankofcanada.ca/2018/06/let-me-be-clear-transparency-trust-understanding/
Governor Poloz talks about how the Bank is improving communications with the public and helping financial markets understand its monetary policy approach.2018-06-27T09:00:47+00:00Let Me Be Clear: From Transparency to Trust and Understanding2018-06-27Stephen S. PolozThe (Mostly) Long and Short of Potential Output
https://www.bankofcanada.ca/2018/05/mostly-long-short-potential-output/
Deputy Governor Lawrence Schembri discusses the importance of potential output to monetary policy, as well as policy challenges and opportunities in a world of low potential output growth.2018-05-16T09:15:07+00:00The (Mostly) Long and Short of Potential Output2018-05-16Lawrence L. SchembriCould a Higher Inflation Target Enhance Macroeconomic Stability?
https://www.bankofcanada.ca/2018/04/staff-working-paper-2018-17/
Recent international experience with the effective lower bound on nominal interest rates has rekindled interest in the benefits of inflation targets above 2 per cent. We evaluate whether an increase in the inflation target to 3 or 4 per cent could improve macroeconomic stability in the Canadian economy.2018-04-06T13:57:48+00:00enCould a Higher Inflation Target Enhance Macroeconomic Stability?2018-04-06Economic modelsInflation targetsMonetary policy frameworkStaff Working Paper 2018-17https://www.bankofcanada.ca/wp-content/uploads/2018/04/swp2018-17.pdfCould a Higher Inflation Target Enhance Macroeconomic Stability?José DorichNicholas LabelleVadym LepetyukRhys R. MendesApril 2018EE3E32E37E4E43E5E52Anchoring Expectations: Canada’s Approach to Price Stability
https://www.bankofcanada.ca/2018/02/anchoring-expectations-canadas-approach-to-price-stability/
Deputy Governor Lawrence Schembri examines the success of the Bank’s monetary policy framework and explains the review being undertaken before its renewal in 2021.2018-02-15T13:30:59+00:00Anchoring Expectations: Canada’s Approach to Price Stability2018-02-15Lawrence L. Schembri