The introduction of inflation targets in Canada in 1991 ostensibly clarified the objectives of monetary policy, namely the pursuit of price stability. In doing so, one of the objectives of the new policy was to ensure that the public would henceforth be able to assess more easily monetary policy...

The introduction of inflation targets in Canada in 1991 ostensibly clarified the objectives of monetary policy, namely the pursuit of price stability. In doing so, one of the objectives of the new policy was to ensure that the public would henceforth be able to assess more easily monetary policy...

Central to the conduct of monetary policy are inflation forecasts. Inflation forecast are not unique. Central banks and professional organizations generate inflation forecasts while households are surveyed about their inflation outlook. This paper estimates inflation forecast disagreement for...

This paper explores the behaviour of inflation forecasts from a variety of sources (ie Consensus and other professional forecasters, international and domestic financial institutions, central banks) with the aim of measuring the size and evolution of forecast disagreements and their proximate...

The aim of this paper is to rely on a wide variety of forecasts and survey based estimates of inflationary expectations since the early 1990s for a group of 9 economies, 5 of which explicitly target inflation, and ask: To what extent are disagreements over forecasts of inflation driven by...

There is no consensus over the importance of “global forces” on inflation. This study explores the role of structural breaks in the inflation process, and their timing, whether it is common across countries, and the extent to which ‘global forces' are relevant. Three conclusions stand out....