Monetary policy transmission

• September 26, 2016

  Cross-Border Trade Integration and Monetary Policy

  Lecture Stephen S. Poloz Western Washington University Bellingham, Washington

  Governor Stephen S. Poloz discusses global trade integration and the implications for the conduct of monetary policy.

  Content Type(s): Press, Speeches and appearances, Lectures Research Topic(s): Central bank research, Economic models, Monetary policy, Monetary policy implementation, Monetary policy transmission, Trade integration

• On What States Do Prices Depend? Answers from Ecuador

  Staff Working Paper 2016-43 Craig Benedict, Mario J. Crucini, Anthony Landry

  In this paper, we argue that differences in the cost structures across sectors play an important role in firms’ decisions to adjust their prices. We develop a menu-cost model of pricing in which retail firms intermediate trade between producers and consumers.

  Content Type(s): Staff research, Staff working papers Research Topic(s): Inflation and prices, Monetary policy transmission JEL Code(s): E, E3, E5, F, F3, F33

• A Primer on Neo-Fisherian Economics

  Staff Analytical Note 2016-14 Robert Amano, Thomas J. Carter, Rhys R. Mendes

  Conventional models imply that central banks aiming to raise inflation should lower nominal rates and thus stimulate aggregate demand. However, several economists have recently challenged this conventional wisdom in favour of an alternative “neo-Fisherian’’ view under which higher nominal rates might in fact lead to higher inflation.

  Content Type(s): Staff research, Staff analytical notes Research Topic(s): Central bank research, Economic models, Inflation and prices, Interest rates, Monetary policy framework, Monetary policy transmission JEL Code(s): E, E4, E5