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282
result(s)
The Behaviour of Consumer Prices Across Provinces
Staff Discussion Paper 2011-2
Gordon Wilkinson
Measures of core inflation enable a central bank to distinguish price movements that are transitory and generated by non-monetary events from those that are more permanent and related to prior monetary policy decisions.
Content Type(s):
Staff research,
Staff discussion papers
Topic(s):
Inflation and prices
JEL Code(s):
E,
E3,
E31
Money and Costly Credit
Staff Working Paper 2011-7
Mei Dong
I study an economy in which money and credit coexist as means of payment and the settlement of credit requires money. The model extends recent developments in microfounded monetary theory to address the choice of payment methods and the effects of inflation. Whether a buyer uses money or credit depends on the fixed cost of credit and the inflation rate.
Content Type(s):
Staff research,
Staff working papers
Topic(s):
Credit and credit aggregates,
Inflation: costs and benefits
JEL Code(s):
E,
E4,
E41,
E5,
E50
Semi-Structural Models for Inflation Forecasting
Staff Working Paper 2010-34
Maral Kichian,
Rumler Fabio,
Paul Corrigan
We propose alternative single-equation semi-structural models for forecasting inflation in Canada, whereby structural New Keynesian models are combined with time-series features in the data. Several marginal cost measures are used, including one that in addition to unit labour cost also integrates relative price shocks known to play an important role in open-economies.
Content Type(s):
Staff research,
Staff working papers
Topic(s):
Econometric and statistical methods,
Inflation and prices
JEL Code(s):
C,
C1,
C13,
C5,
C53,
E,
E3,
E31
November 19, 2010
Has Exchange Rate Pass-Through Really Declined? Some Recent Insights from the Literature
Building on an earlier Review article, the authors critically reassess the premise that exchange rate pass-through (ERPT) has declined in light of recent studies of the issue in the context of a dynamic stochastic general-equilibrium framework.
Content Type(s):
Publications,
Bank of Canada Review articles
Topic(s):
Economic models,
Exchange rates,
Inflation and prices,
Monetary policy framework
August 19, 2010
Monetary Policy and the Zero Bound on Nominal Interest Rates
The recent financial crisis and global economic slowdown have renewed interest in monetary policy options when the policy interest rate is at or near zero.
Content Type(s):
Publications,
Bank of Canada Review articles
Topic(s):
Inflation targets,
Monetary policy framework
August 19, 2010
Price-Level Targeting and Relative-Price Shocks
Stephen Murchison reviews the findings of recent Bank of Canada research on the relative merits of inflation targeting and price-level targeting (PLT) for a small open economy, such as Canada's, that is susceptible to large and persistent terms-of-trade shocks.
Content Type(s):
Publications,
Bank of Canada Review articles
Topic(s):
Central bank research,
Inflation targets,
Monetary policy framework
August 19, 2010
Conference Summary: New Frontiers in Monetary Policy Design
Although the current inflation-targeting regime has served Canadians well, sound public policy demands the continuous exploration of possible improvements in the monetary policy framework.
Content Type(s):
Publications,
Bank of Canada Review articles
Topic(s):
Central bank research,
Inflation targets,
Monetary policy framework
Inflation and Unemployment in Competitive Search Equilibrium
Staff Working Paper 2010-15
Mei Dong
Using a monetary search model, Rocheteau, Rupert and Wright (2007) show that the relationship between inflation and unemployment can be positive or negative depending on the primitives of the model. The key features are indivisible labor, nonseparable preferences and bargaining.
Content Type(s):
Staff research,
Staff working papers
Topic(s):
Inflation: costs and benefits
JEL Code(s):
E,
E1,
E12,
E13,
E4,
E40,
E5,
E52
The Fisher BCPI: The Bank of Canada’s New Commodity Price Index
Staff Discussion Paper 2010-6
Ilan Kolet,
Ryan Macdonald
The prices of commodities produced in Canada have important implications for the performance of the Canadian economy and the conduct of monetary policy. The authors explain an important change to the methodology used to construct the Bank of Canada commodity price index (BCPI).
Content Type(s):
Staff research,
Staff discussion papers
Topic(s):
Econometric and statistical methods,
Inflation and prices
JEL Code(s):
C,
C1,
E,
E3