Find Bank of Canada research by keyword, author, content type, JEL code, topic or date of publication.
Receive notification by email whenever new research is added to the website.
278
result(s)
December 22, 2005
70 Years of Central Banking: The Bank of Canada in an International Context, 1935–2005
Bordo and Redish examine the evolution of central banking over the past 70 years and identify periods where Canada was either a notable innovator with regard to central banking practices or appeared to be following a slightly different course. They note that global forces seemed to play an important role in determining inflation outcomes throughout the 70-year period, and that Canada and the United States experienced roughly similar inflation rates despite some important differences in their monetary policy regimes. Canada, for example, was comparatively late in establishing a central bank, launching the Bank of Canada long after most other industrial countries had one. Canada also operated under a flexible exchange rate through much of the Bretton Woods period, unlike any other country in the 1950s and early 1960s; adopted inflation targets well before most other central banks; and introduced a number of other innovative changes with regard to the implementation of monetary policy in the 1990s.
Content Type(s):
Publications,
Bank of Canada Review articles
Topic(s):
Exchange rates,
Inflation and prices,
Monetary policy framework
Forecasting Core Inflation in Canada: Should We Forecast the Aggregate or the Components?
Staff Working Paper 2005-44
Frédérick Demers,
Annie De Champlain
The authors investigate the behaviour of core inflation in Canada to analyze three key issues: (i) homogeneity in the response of various price indexes to demand or real exchange rate shocks relative to the response of aggregate core inflation; (ii) whether using disaggregate data helps to improve the forecast of core inflation; and (iii) whether using monthly data helps to improve quarterly forecasts.
Content Type(s):
Staff research,
Staff working papers
Topic(s):
Econometric and statistical methods,
Inflation and prices
JEL Code(s):
C,
C5,
E,
E3,
E37
The 1975–78 Anti-Inflation Program in Retrospect
Staff Working Paper 2005-43
John Sargent
The author provides an overview of the 1975–78 Anti-Inflation Program (AIP), in a background document prepared for a seminar organized by the Bank of Canada to mark the AIP's 30th anniversary.
Content Type(s):
Staff research,
Staff working papers
Topic(s):
Credibility,
Fiscal policy,
Inflation and prices,
Inflation targets,
Monetary policy framework,
Monetary policy implementation
JEL Code(s):
E,
E3,
E31,
E5,
E52,
E6,
E63,
E64,
E65
Measurement Bias in the Canadian Consumer Price Index
Staff Working Paper 2005-39
James Rossiter
The consumer price index (CPI) is the most commonly used measure of inflation in Canada.
Content Type(s):
Staff research,
Staff working papers
Topic(s):
Inflation and prices,
Inflation targets
JEL Code(s):
E,
E3,
E31,
E5,
E52
The Exchange Rate and Canadian Inflation Targeting
Staff Working Paper 2005-34
Christopher Ragan
The author provides a non-technical explanation of the role played by the exchange rate in Canada's inflation-targeting monetary policy.
Content Type(s):
Staff research,
Staff working papers
Topic(s):
Exchange rates,
Inflation targets,
Monetary policy implementation
JEL Code(s):
E,
E5,
E50,
E52,
F,
F4,
F41
Does Financial Structure Matter for the Information Content of Financial Indicators?
Staff Working Paper 2005-33
Ramdane Djoudad,
Jack Selody,
Carolyn A. Wilkins
Of particular concern to monetary policy-makers is the considerable unreliability of financial variables for predicting GDP growth and inflation.
Content Type(s):
Staff research,
Staff working papers
Topic(s):
Business fluctuations and cycles,
Credit and credit aggregates,
Inflation and prices,
Interest rates,
Monetary aggregates
JEL Code(s):
E,
E3,
E31,
E32
October 5, 2005
The Exchange Rate and Canadian Inflation Targeting
An essential element of the Bank of Canada's inflation-targeting framework is a floating exchange rate that is free to adjust in response to shocks that affect the Canadian and world economies. This floating rate plays an important role in the transmission mechanism for monetary policy. A practical question is how the Bank of Canada incorporates currency movements into the monetary policy decision-making process. Only after determining the cause and persistence of exchange rate change, and its likely net effect on aggregate demand, can the Bank decide on the appropriate policy response to keep inflation low, stable, and predictable. Ragan reviews the need to target inflation and the transmission mechanism for monetary policy, including the role of the exchange rate, before describing two types of exchange rate movements and their implications for monetary policy.
Content Type(s):
Publications,
Bank of Canada Review articles
Topic(s):
Exchange rates,
Inflation targets,
Monetary policy implementation
Has Exchange Rate Pass-Through Really Declined in Canada?
Staff Working Paper 2005-29
Hafedh Bouakez,
Nooman Rebei
Several empirical studies suggest that exchange rate pass-through has declined in recent years in industrialized countries.
Content Type(s):
Staff research,
Staff working papers
Topic(s):
Business fluctuations and cycles,
Economic models,
Exchange rates,
Inflation and prices,
International topics
JEL Code(s):
F,
F3,
F4
Inflation and Relative Price Dispersion in Canada: An Empirical Assessment
Staff Working Paper 2005-28
André Binette,
Sylvain Martel
The authors investigate empirically the relationship between different aspects of inflation and relative price dispersion in Canada using a Markov regime-switching Phillips curve.
Content Type(s):
Staff research,
Staff working papers
Topic(s):
Inflation and prices
JEL Code(s):
C,
C3,
C32,
E,
E3,
E31