Liquidity, Redistribution, and the Welfare Cost of Inflation
This paper studies the long run welfare costs of inflation in a micro-founded model with trading frictions and costly liquidity management.
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June 29, 2007
Business Outlook Survey - Summer 2007
Expectations regarding future sales growth are essentially unchanged from the last survey. Investment and employment intentions have declined from the very high levels reported in the previous survey, but continue to be solid. -
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June 21, 2007
Global Integration, Monetary Policy, and the International Monetary System
Now, Manitoba – right in the middle of our vast country – might seem an odd place to talk about globalization. But this province, like the rest of Canada, is very much affected by global economic forces. -
June 19, 2007
Change to the Official Time Base Reference Period for the Canadian Consumer Price Index: Implications for Government of Canada Real Return Bonds
Today, along with the release of the consumer price index (CPI) for May 2007, Statistics Canada converted the official time base reference period for the CPI (the period for which the value 100 is assigned to the index) from 1992 to 2002 . This conversion was previously announced on 23 January 2007. -
June 13, 2007
Demographics, Labour Input, and Economic Potential: Implications for Monetary Policy
Over the years, we at the Bank of Canada have learned that the best contribution that monetary policy can make to the economic welfare of Canadians is to keep inflation low, stable, and predictable. We try to keep the annual increase in consumer price inflation at 2 per cent, which is the middle of a 1 to 3 per cent inflation-control range. -
June 11, 2007
Topics in Exchange Rate Modelling
Conference held on 11 and 12 June 2007 (papers in unedited, electronic format only) -
A vision for IMF Surveillance
The ongoing review of the IMF, initiated in 2005 by Managing Director De Rato, presents an excellent opportunity to re-examine the role, functions and governance of the Fund.