The author constructs a measure of core inflation using a structural vector autoregression containing oil-price growth …, output growth, and inflation. This macro-foundedʺ measure of inflation forecasts total inflation at least as well as other …, atheoretical measures. -- Inflation and prices …

movements have had important implications for inflation and economic activity in both Canada and the rest of the world. China … the Bank of Canada Commodity Price Index (BCPI). Two separate single-equation models are estimated for oil and the base …

,rather than exchange rate regimes and questions of policy credibility and political accountability are crucial. Canada's recent … economic performance under inflation targets, and arguments that the flexible exchange rate has undermined real economic … performance are assessed. The most economically attractive among alternative monetary orders, the adoption by Canada of the US …