We use narrative evidence along with a novel database of real-time data and forecasts from the Bank of Canada's staff … monetary policy in Canada. We show that it is crucial to take into account the break in the conduct of monetary policy caused … by the announcement of inflation targeting in 1991 when estimating the effects of monetary policy. For instance, we find …

inflation such as the U.S. and Canada. For example, in Canada, a systematic review of the current inflation targeting framework … assessing the redistributional effects of inflation in Canada that arise through the revaluation of nominal assets and … effects of inflation. This omission is likely to be important since the welfare costs of inflation depend not only on …

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

be related to the explicit inflation target in Canada in comparison to the dual mandate in the US. …’ inflation expectations to their own lagged forecasts as well as proxies for the rational expectation forecasts. The model builds … in inflation expectations extensively documented in the literature. We estimate the model using data from two important …

We present a novel database of real-time data and forecasts from the Bank of Canada's staff economic projections. We … then provide a forecast evaluation for GDP growth and CPI inflation since 1982: we compare the staff forecasts with those …

structure allows us to assess the macroeconomic impact of the COVID-19 pandemic in Canada. Second, the realistic agent behaviour … of macroprudential policies in Canada. …

-zero trend inflation. We characterize the fiscal and monetary policies by a rule whereby a given fraction k of the government … measured by (1 k), is positively related to trend inflation, and 2) when prices are sticky, k has significant effects on the … dominance in both Mexico and South Korea, but almost no fiscal dominance in Canada and the U.S. The country-specific estimates …

Since the work of Doepke and Schneider (2006a) and Meh and Terajima (2008), we know that inflation causes major … same country. Two types of monetary policy, inflation targeting (IT) and price level targeting (PT), have very different … properties which is what we explore in this paper. For Canada, we show that the magnitude of redistributions of an unexpected 1 …

affine term structure model to find that, contrary to previous estimates of this rule, the monetary authorities in Canada …

. We apply this framework to the Bank of Canada's Business Outlook Survey by describing the sampling method in terms of …