Publications and Research

1997 conference

Price Stability, Inflation Targets and Monetary Policy

Proceedings of a conference – May 1997

Table of contents

Introduction

Tiff Macklem

Session 1

The Intertemporal Nature of Information Conveyed by the Price System (PDF, 119 kb)
Serge Coulombe

Discussion: Agathe Côté (PDF, 100 kb)

Is the CPI a Suitable Measure for Defining Price Stability? (PDF, 153 kb)
Allan Crawford, Jean-François Fillion, and Thérèse Laflèche

Discussion: Bohdan Schultz

Discussion: Benoît Carmichael (PDF, 19 kb)

General Discussion

Session 2

Testing the Link Between Inflation and Growth (PDF, 109 kb)
Steve Ambler and Emanuela Cardia

Discussion: Simon van Norden(PDF, 21 kb)

Discussion: John W. Galbraith(PDF, 12 kb)

General Discussion

Session 3

Non-Linearities in the Output-Inflation Relationship (PDF, 353 kb)
Chantal Dupasquier and Nicholas Ricketts

Appendix (PDF, 26 kb)

Discussion: Nicholas Rowe (PDF, 15 kb)

Testing for Downward Rigidity in Nominal Wage Rates (PDF, 211 kb)
Allan Crawford and Alan Harrison

Discussion: Audra J. Bowlus (PDF, 30 kb)

Discussion: Pierre Fortin (PDF, 35 kb)

General Discussion

Session 4:  Round Table

Background Paper:

The Monetary Frameworks of Four Inflation-Targeting Countries (PDF, 59 kb)
Robert Lafrance

Inflation Targeting - The New Zealand Experience (PDF, 59 kb)
Murray Sherwin

Inflation Targeting - The U.K. Experience (PDF, 15 kb)
William A. Allen

Inflation Targeting - The Swedish Experience (PDF, 154 kb)
Lars Heikensten

General Discussion

Session 5

On the Costs and Benefits of Price Stability (PDF, 150 kb)
Richard Black, Donald Coletti, and Sophie Monnier

Discussion: Steven James (PDF, 13 kb)

Discussion: Michael B. Devereux (PDF, 19 kb)

General Discussion

Session 6

The Credibility of Monetary Policy: International Evidence Based on Surveys of Expected Inflation (PDF, 151 kb)
David Johnson

Discussion: Graydon Paulin (PDF, 30 kb)

Discussion: Victoria Miller (PDF, 18 kb)

General Discussion

On Policy Rules for Price Stability (PDF, 335 kb)
Richard Black, Tiff Macklem, and David Rose

Discussion: Gregor Smith (PDF, 30 kb)

General Discussion

Wrap-Up Discussion

W. Paul Jenkins (PDF, 30 kb)

Norman Cameron (PDF, 28 kb)

William Scarth (PDF, 25 kb)

General Discussion

The Participants

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Bank topic index:
Inflation targets, Credibility, Inflation: Costs and benefits, Inflation and prices, Labour markets