distribution. The conventional method of analysis is regression of summary inequality indices on variables such as the unemployment … and inflation rates. Building on the lessons from recent advances in time-series econometrics, we suggest instead that one …

In Canada, targeting the inflation rate was intended as a temporary measure on a journey to price-level stability, but … account, changing beliefs about the stability or otherwise of ongoing inflation, the capacity of a flexible exchange rate to … create a vicious circle of depreciation and rising domestic prices, and about the roles played by the natural unemployment …

that this may have contributed to more elastic aggregate supply in recent years, which is consistent with lower inflation …