estimating the size of the shadow economy for 157 countries over 1991 to 2017. The results suggest that the OECD countries are by … far the lowest with values below 20% of off official GDP and the shadow economy is larger in Latin America and Sub ….9 %. What is really remarkable, that the average decline of the shadow economy from 1991 to 2017 is 6.8 percentage points. The …

policy. We study how firms form their inflation expectations using quarterly firm-level data from the Bank of Canada … structural shift specifications suggests that inflation expectations in Canada have drifted downward since the Great Recession …

,rather than exchange rate regimes and questions of policy credibility and political accountability are crucial. Canada's recent … performance are assessed. The most economically attractive among alternative monetary orders, the adoption by Canada of the US … politically attainable. Intermediate arrangements are unattractive and clearly inferior to Canada's current monetary order. …

viewpoint of the foreign country. Calibrating the model to match industry-level data in the U.S. and Canada, we show that at …

The real exchange rate - real interest rate (RERI) relationship is central to most open economy macroeconomic models …