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Aggregate and welfare effects of redistribution of wealth under inflation and price-level targeting
Meh, Césaire Assah (contributor);  … - 2008
properties which is what we explore in this paper. For Canada, we show that the magnitude of redistributions of an unexpected 1 …
Persistent link: https://www.econbiz.de/10003773003
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Price level targeting in a small open economy with financial frictions : welfare analysis
Dib, Ali (contributor); Mendicino, Caterina (contributor);  … - 2008
How important are the benefits of low price-level uncertainty? This paper explores the desirability of price-level path targeting in an estimated DSGE model fit to Canadian data. The policy implications are based on social welfare evaluations. Compared to the historical inflation targeting rule,...
Persistent link: https://www.econbiz.de/10003775730
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Heterogeneous beliefs and housing-market boom-bust cycles in a small open economy
Tomura, Hajime - 2009
This paper introduces heterogeneous beliefs among households in a small open economy model for the Canadian economy. The model suggests that simultaneous boom-bust cycles in house prices, output, investment, consumption and hours worked emerge when credit-constrained mortgage borrowers expect...
Persistent link: https://www.econbiz.de/10003852849
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Adopting price-level targeting under imperfect credibility in ToTEM
Cateau, Gino; Kryvtsov, Oleksiy; Shukayev, Malik; … - 2009
Using the Bank of Canada's main projection and policy-analysis model, ToTEM, this paper measures the welfare gains of …
Persistent link: https://www.econbiz.de/10003852881
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Alternative optimized monetary policy rules in multi-sector small open economies
De Resende, Carlos; Dib, Ali; Kichian, Maral - 2010
multiple dimensions. With key parameters of the model estimated using data from an inflation targeting economy, namely Canada …
Persistent link: https://www.econbiz.de/10003951230
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Inflation targeting and price-level-path targeting in the GEM : some open economy considerations
Coletti, Donald (contributor); Lalonde, René (contributor);  … - 2008
stabilize the macroeconomy, in response to a series of shocks, similar to those seen in Canada and the United States over the … 1983 to 2004 period. The analysis is conducted in a two-country (Canada and the United States), two-sector (tradables and … been most important for explaining movements in Canada’s terms of trade over this period, PLPT is still preferred to IT …
Persistent link: https://www.econbiz.de/10003711669
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Markups in Canada : have they changed and why?
Leung, Danny (contributor) - 2008
Many empirical studies have examined the cyclical nature of the markup ratio. Until recently, few have attempted to ascertain the changes in the markup over a longer time horizon. These changes are of no less interest in view of the posited effects of increasing import competition and lower...
Persistent link: https://www.econbiz.de/10003711671
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Price-level versus inflation targeting with financial market imperfections
Covas, Francisco (contributor); Zhang, Yahong (contributor) - 2008
This paper compares price-level-path targeting (PT) with inflation targeting (IT) in a sticky-price, dynamic, general equilibrium model augmented with imperfections in both the debt and equity markets. Using a Bayesian approach, we estimate this model for the Canadian economy. We show that the...
Persistent link: https://www.econbiz.de/10003749246
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A horse race of monetary policy regimes : an experimental investigation
Kostyshyna, Olena; Petersen, Luba; Yang, Jing - 2022 - Last updated: July 15, 2022
We provide a comprehensive assessment of five monetary policy regimes-inflation targeting (IT), dual mandate (DM), average inflation targeting under 4-period (AIT-4) and 10-period (AIT-10) horizons, price level targeting (PLT), and nominal GDP level targeting (NGDP)-in a unified experimental...
Persistent link: https://www.econbiz.de/10013280118
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The determinants of consumers' inflation expectations : evidence from the US and Canada
Bellemare, Charles; Kpekou Tossou, Rolande C. B.; … - 2020 - Last updated: November 30, 2020
new surveys - the Federal Reserve Bank of New York’s Survey of Consumer Expectations and the Bank of Canada’s Canadian … rational expectations forecasts in Canada than in the US, and conversely less to lagged expectations. More specifically, the … expectations in Canada, while these weights are around 50-50 for the US. We show that these differences in weights are not …
Persistent link: https://www.econbiz.de/10012322148