Trend Inflation, Wage and Price Rigidities, and Welfare
This paper studies the steady-state costs of inflation in a general-equilibrium model with real per capita output growth and staggered nominal price and wage contracts.
Posts
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July 25, 2007
Bank of Canada releases 2008 schedule of dates for its policy interest rate announcements
The Bank of Canada today released its 2008 schedule of eight dates for announcing decisions on its key policy interest rate, and confirmed the announcement dates for the remainder of this year. -
July 18, 2007
Update on Selection Process for Governor of the Bank of Canada Released by the Special Committee of the Bank's Board of Directors
In accordance with the Bank of Canada Act, the Governor of the Bank of Canada is appointed by the independent directors with the approval of the Governor in Council (federal Cabinet). Following an announcement on 25 April 2007 that the current Governor, Mr. David Dodge, would not be seeking reappointment at the end of his seven year mandate on 31 January 2008, the Bank's Board of Directors initiated a process to find a replacement. -
Asset-Price Misalignments and Monetary Policy: How Flexible Should Inflation-Targeting Regimes Be?
The authors analyze the extent to which inflation-targeting frameworks should incorporate flexibility in order to respond to asset-price misalignments and other atypical events. They examine the costs and benefits of adding flexibility to the Bank's current inflation-targeting framework, and conclude that maintaining low and stable consumer price inflation is the best contribution that monetary policy […] -
July 12, 2007
Release of the Monetary Policy Report Update
Economic growth and inflation in Canada in the first half of this year have been stronger than was expected in the April Monetary Policy Report. The Bank judges that the economy is now operating further above its production potential than was projected in April. -
July 12, 2007
Monetary Policy Report Update – July 2007
Economic growth and inflation in Canada in the first half of this year have been stronger than expected in the April Monetary Policy Report. -
July 12, 2007
Bank of Canada releases Monetary Policy Report Update
Economic growth and inflation in Canada in the first half of this year have been stronger than was expected in the April Monetary Policy Report. -
July 10, 2007
Bank of Canada raises overnight rate target by 1/4 percentage point to 4 1/2 per cent
The Bank of Canada today announced that it is raising its target for the overnight rate by one-quarter of one percentage point to 4 1/2 per cent. -
July 5, 2007
The Bank of Canada - Rotman School of Management Workshop on Advances in Portfolio Management
Conference held on 5 to 7 July 2007 (papers in unedited, electronic format only) -
Multilateral Adjustment and Exchange Rate Dynamics: The Case of Three Commodity Currencies
In this paper, we empirically investigate whether multilateral adjustment to large U.S. external imbalances can help explain movements in the bilateral exchange rates of three commodity currencies – the Australian, Canadian and New Zealand (ACNZ) dollars.