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194
result(s)
Monetary Policy, Uncertainty and the Presumption of Linearity
Technical Report No. 63
Douglas Laxton,
David Rose,
Robert Tetlow
This report shows that extreme conditions and volatility in markets are much more likely to result from systematic policy errors in gauging and responding to inflationary pressures in an economy than from unfortunate random shocks. We describe a simple model that incorporates the key features of the policy control process. We use two versions of […]
Content Type(s):
Staff research,
Technical reports
Topic(s):
Economic models,
Inflation and prices,
Monetary policy and uncertainty
JEL Code(s):
E,
E5,
E52
Wage and Price Dynamics in Canada
Technical Report No. 56
Barry Cozier
This paper examines wage and price dynamics in Canada with a view towards testing the implications of a wage-price dynamics, according to which unit labour costs are determined by a wage Phillips curve while prices are set as a markup over unit labour costs. This model is compared to an alternative model in which excess […]
Content Type(s):
Staff research,
Technical reports
Topic(s):
Inflation and prices
JEL Code(s):
C,
C5,
C51,
C52,
E,
E2,
E24,
E3,
E31
Asset Stocks and the Use of Monetary and Fiscal Policies to Reduce Inflation
Technical Report No. 35
Paul Masson
This paper analyzes the dynamic behaviour of a country's economy under different policy regimes, by examining the cyclical effects that occur when certain intermediate macroeconomic targets are adopted. To highlight the differences in the adjustment paths that result, the study deliberately limits policy choice: either money supply or nominal income as targets, and either real […]
Content Type(s):
Staff research,
Technical reports
Topic(s):
Fiscal policy,
Inflation and prices,
Monetary policy and uncertainty
JEL Code(s):
E,
E3,
E31,
E6,
E63