We develop a time-varying transition probabilities Markov Switching model in which inflation is characterised by two … regimes (high and low inflation). Using Bayesian techniques, we apply the model to the euro area, Germany, the US, the UK and … Canada for data from the 1960s up to the present. Our estimates suggest that a smoothed measure of broad money growth …

, and in the Eurozone, Canada, and Australia over the post-WWII period. Overall, our evidence does not provide much support …

Using annual data from 14 European Union countries, plus Canada, Japan and the United States, we evaluate the …

, Spain, and Canada. With regard to the European governments, we are interested in how these premiums were affected by the …

required, might then be harder to understand. Using variation in the drafting process at the Bank of Canada, this paper studies …