Roughly two years into the economic recovery from the COVID-19 crisis, the topic of elevated inflation dominates the … inflation is not centrally demand driven; rather dynamics at the micro-level are playing a much more central role in driving the …

In Canada, targeting the inflation rate was intended as a temporary measure during a transition to price … following account, changing beliefs about the stability or otherwise of ongoing inflation, the capacity of a flexible exchange … modelling inflation targeting arrived on the scene only as the Canadian regime was becoming well established. …

suggests that a persistent higher IRD can evoke multiple responses, including currency depreciation, specialization, inflation …, and wage drift. The model suggests that excessive long-lasting IRD can spark a chronic interaction between inflation and …

by the announcement of inflation targeting in 1991 when estimating the effects of monetary policy. For instance, we find … that a 100-basis-point increase in our new shock series leads to a 1.0 per cent decrease in real GDP and a 0.4 per cent … fall in the price level, while not accounting for the break leads to a permanent decrease in real GDP and a price puzzle …

We consider what, if any, relationship there is between monetary aggregates and inflation, and whether there is any … paribus unitary relationship between inflation and money growth. Simulations of a New Keynesian model suggest that we should … allowance needed for the phase shift in the relationship between monetary growth rates and inflation. While financial innovation …