match Canadian macroeconomic data since Canada's adoption of inflation targeting. We use the model to provide a quantitative … assessment of the macroeconomic impact of flexible inflation targeting and some alternative monetary policy regimes. These … alternative monetary policy regimes are average-inflation targeting, price-level targeting and nominal gross domestic product …

Since 1991, the Bank of Canada has had an inflation‐targeting (IT) framework established by a joint agreement between … inflation‐control agreement. This discussion paper summarizes some interim results from Bank staff analysis done for the August … analysis later in 2021. The core of the current framework-the 2 percent inflation target-has remained unchanged since 1995 …

and standard empirical benchmarks. The design is aligned to its role as workhorse model in the context of the forecasting …

regime during a deceleration in economic activity and with headline and core inflation remaining well below the FOMC's 2 … percent inflation target. Moreover, both short- and long-term inflation expectations were drifting lower. These developments …

and standard empirical benchmarks. The design is aligned to its role as workhorse model in the context of the forecasting …

estimate the U.S. central bank's ex ante perceptions of the natural rate of unemployment. Relative to retrospective estimates …, empirical results do not indicate severe underestimation of the natural rate of unemployment in the 1970s …

potential output growth and the attendant and partly temporary slowdown in inflation. Assessing the NE is however a complicated … long-run perspective, the central bank could capitalise on the NE to set lower inflation targets. In the short to medium …