bound is relatively low, especially if the inflation target established for the monetary authority is 2 per cent or more … rate for lower inflation targets. Various caveats apply to drawing conclusions for Canada from the papers we surveyed …

inflation and output dynamics in the United States. In particular, I find that real money balance effects are quantitatively …

The purpose ot this study is to test the hypothesis that inflation uncertainty increases at higher levels of inflation … conditional variance of the error term to be time-varying. Since this variance is a proxy for inflation uncertainty, a positive … relationship between the conditional variance and inflation would be interpreted as evidence that inflation uncertainty increases …

This paper examines the performance of M1 in an indicator model of inflation over time horizons as long as 16 quarters … the deviations of M1 from its long-run path provide "distant-early-warning" information about the future path of inflation. …

This paper surveys the empirical literature on the benefits of low inflation emphasizing contributions since 1990. It … at the costs of inflation, or the benefits of price stability, in the context of four themes: inflation creates … uncertainty about the future; there are costs of having to cope with inflation; inflation affects equity and fairness; and 'living …

A vector error-correction Model (VECM) that Forecasts inflation between the current quarter and eight quarters ahead is … found to privide significant leading information about inflation. The model focusses on th effects of deviations of M1 from …

Canadian monetary policy. If, for example, the Bank of Canada is using interest rates to target an inflation rate of 2 per cent … and there is an 8-quarter lag in the effect of the interest rate on inflation, then deviations of inflation from 2 per … quarters. This would imply that empirical causality tests of monetary policy on inflation could be very misleading. Our test …

points in the unionized private sector during the low-inflation period of the 1990s. …