Price Adjustment and Monetary Policy

Introduction
Don Coletti

Opening Remarks
Tiff Macklem

Memorial Lecture: Contributions of John Kuszczak

William Scarth

Session 1: Empirical Models of Price Adjustment

Alternative Sources of the Lag Dynamics of Inflation

Sharon Kozicki and Peter A. Tinsley

Discussion: Michel Normandin

General Discussion

The New Phillips Curve in Canada

Alain Guay, Richard Luger, and Zhenhua Zhu

Discussion: Jean Boivin

General Discussion

Session 2: The Labour Market and Price Adjustment

The Effects of Shocks in a Monetary Business Cycle Model with Unemployment

Michelle Alexopoulos

Discussion: Scott Hendry

General Discussion

How Certain Are We About the Role of Uncertainty in the Labour Contract Duration Decision? Evidence for Canada and Implications

Robert Fay and Sébastien Lavoie

Discussion: John Knowles

General Discussion

Session 3: Price Adjustment and Monetary Policy

How Do Canadian Hours Worked Respond to a Technology Shock?

Lawrence J. Christiano, Martin Eichenbaum, and Robert Vigfusson

Discussion: Kevin Moran

Discussion: Martin Gervais

General Discussion

Session 4: Small Open-Economy Models

New Keynesian, Open-Economy Models and Their Implications for Monetary Policy

David Bowman and Brian Doyle

Discussion: Frank Smets

General Discussion

Session 5: Price-Setting in a Small Open Economy

Monetary Policy in a Small Open Economy

Gabriel Srour

Discussion: Craig Burnside

General Discussion

Price-Setting and Exchange Rate Pass-Through: Theory and Evidence

Michael B. Devereux and James Yetman

Discussion: Jeannine Bailliu

Discussion: Beverly Lapham

General Discussion

Panel Discussion

Discussion 1: Gregor Smith

Discussion 2: Michael Woodford

Discussion 3: Pierre Duguay

The Participants

Bank topic index: Business Fluctuations and Cycles, Credibility, Econometric and Statistical Methods, Economic Models, Exchange Rates, Inflation and Prices, International Topics, Labour Markets, Monetary Policy Framework, Productivity