The economic integration of North America, unlike that of Europe, has no parallels on the political front, and U.S. economic and political interests are world-wide, while those of Canada and Mexico are predominantly regional. These facts have important implications for the degree of policy...

The Bank of Canada has announced that its inflation-targeting regime, in place since 1991, is at last to get a thorough review. The Issues needing examination include whether to move to a "price stability" program, which might be both feasible and desirable.

From Henry Thornton (1802), through Walter Bagehot (1873) until Ralph Hawtrey (1932), the lender of last resort function was central to the theory of central bank behaviour. In that role, the bank was urged to aid individual banks in times of crisis, but also and crucially to provide liquidity...

As a 2011 deadline approaches for reform or renewal of the Bank of Canada's inflation-targeting program, questions arise about how the Bank's responsibilities for ensuring the financial system's stability are exercised under such a regime. The current financial crisis underlines the urgency of...

The debate about Canadian-U.S. monetary integration is surveyed. The choice is among overall monetary orders,rather than exchange rate regimes and questions of policy credibility and political accountability are crucial. Canada’s recent economic performance under inflation targets, and...