mechanism and test the over-identifying restrictions for Australia, Canada, and New Zealand. For all three countries …

policies of an actual central bank, the Bank of Canada. Finally, the paper considers the role of fiscal policy in an open …

This paper revisits Canada's pioneering experience with floating exchange rate over the period 1950-1962. It examines … whether the floating rate was the best option for Canada in the 1950s by developing and estimating a New Keynesian small open … that monetary policy was more volatile in the post-1957 period and Canada's macroeconomic performance suffered as a result …

On the seventieth birthday of the Bank of Canada, we evaluate the Bank's contribution to monetary policy in an … a sea of fixed currencies under Bretton Woods; its experience with the Great Inflation and monetarism; its pioneering … adoption of inflation targeting; and recent innovations in the payments and the phasing out of reserve requirements …

In recent years, a number of central banks have announced numerical inflation targets as the basis for their monetary … examines the adoption, operational design, and experience of inflation targeting as a framework for monetary policy in the … first three countries to undertake such strategies New Zealand, Canada, and the United Kingdom. It also analyzes the …

expectations of the time-paths of future short interest rates, monetary policy, inflation rates and currency depreciation rates …

their role in influencing the credibility of the monetary authority. We focus on measures of inflation expectations, the … mean reversion properties of inflation, and indicators of exchange rate risk. In addition we place some emphasis on whether …

the adoption of inflation targeting. However, the recent financial crisis and the call for central banks to focus more on …