Thomas J. Carter - Latest - Bank of Canada
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Bank of Canada RSS Feedsen2024-03-28T15:53:46+00:00Assessing global potential output growth and the US neutral rate: April 2022
https://www.bankofcanada.ca/2022/04/staff-analytical-note-2022-4/
We expect global potential output growth to increase from 2.7% in 2021 to 2.9% by 2024. Compared with the April 2021 assessment, global potential output growth is marginally slower. The current range for the US neutral rate is 2% to 3%, 0.25 percentage points higher than staff’s last assessment.2022-04-13T14:09:59+00:00enAssessing global potential output growth and the US neutral rate: April 20222022-04-13Assessing global potential output growth and the US neutral rate: April 2021
https://www.bankofcanada.ca/2021/04/staff-analytical-note-2021-5/
We expect global potential output growth to rise to 3 percent by 2022. Relative to the last assessment in October 2020, potential output growth has been revised up across all the regions. The range of the US neutral rate remains unchanged relative to the autumn 2020 assessment.2021-04-21T10:00:15+00:00enAssessing global potential output growth and the US neutral rate: April 20212021-04-21The Neutral Rate in Canada: 2019 Update
https://www.bankofcanada.ca/2019/04/staff-analytical-note-2019-11/
This note provides an update on Bank of Canada staff’s assessment of the Canadian neutral rate. The neutral rate is the policy rate needed to keep output at its potential level and inflation at target once the effects of any cyclical shocks have dissipated. This medium- to long-run concept serves as a benchmark for gauging the degree of monetary stimulus provided by a given policy setting.2019-04-17T11:12:06+00:00enThe Neutral Rate in Canada: 2019 Update2019-04-17Redistributive Effects of a Change in the Inflation Target
https://www.bankofcanada.ca/2017/10/staff-analytical-note-2017-13/
In light of the financial crisis and its aftermath, several economists have argued that inflation-targeting central banks should reconsider the level of their inflation targets. While the appropriate level for the inflation target remains an open question, it’s important to note that any transition to a new target would entail certain costs.2017-10-06T10:57:27+00:00enRedistributive Effects of a Change in the Inflation Target2017-10-06Comparing Forward Guidance and Neo-Fisherianism as Strategies for Escaping Liquidity Traps
https://www.bankofcanada.ca/2016/12/staff-analytical-note-2016-16/
What path should policy-makers select for the nominal rate when faced with a liquidity trap during which the effective lower bound binds?2016-12-08T10:39:29+00:00enComparing Forward Guidance and Neo-Fisherianism as Strategies for Escaping Liquidity Traps2016-12-08A Primer on Neo-Fisherian Economics
https://www.bankofcanada.ca/2016/09/staff-analytical-note-2016-14/
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.2016-09-22T14:53:44+00:00enA Primer on Neo-Fisherian Economics2016-09-22