This paper present a variety of approaches to estimating error-correction relationships between CPI inflation and … selected commodity price indices, based on their ability to to forecast out-of-sample predictions of CPI inflation. Depending … on specification, commodity prices have marginal value as predictors of inflation …

We examine the relative ability of simple inflation targeting (IT) and price level targeting (PLT) monetary policy … rules to minimize both inflation variability and business cycle fluctuations in Canada for shocks that have important … persistent cost-push pressures in the economy leading to a significant deterioration in the inflation - output gap trade …