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

In this paper, the authors propose a measure of underlying inflation for Canada obtained from estimating a monthly … distort the signal in many other measures of underlying inflation, and appears to capture price movements that are indicative … measures of underlying inflation monitored by the Bank of Canada. …

inflation. The analysis extends Elwood’s (1998) framework by incorporating in the model an inflation-threshold process that can …, depending on the level of inflation: negative shocks are more detrimental when inflation is high, and positive shocks are more … persistent when inflation is low. …

The inflation targeting (IT) regime is 17 years old. With practice of IT now in more than 21 countries, there is enough … evidence gathered to take stock of the IT experience. In this paper, we analyze the inflation record of IT central banks. We … extend the work of Albagli and Schmidt-Hebbel (2004) by looking at a broad range of factors that can influence inflation …

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 targeting (IT) had originally been introduced as a device to bring inflation down and stabilize it at low … levels. Given the current environment of persistently weak inflation in many advanced economies, IT central banks must now … bring inflation up to target. In this paper, the author tests to what extent inflation expectations are anchored in such …

We study a model with repeated moral hazard where financial contracts are not fully indexed to inflation because …

switching from inflation targeting to price-level targeting under imperfect credibility. Following the policy change, private … agents assign a probability to the event that the policy-maker will revert to inflation-targeting next period. As this … probability decreases and imperfect credibility abates, inflation expectations in the economy become consistent with price …