00000nam 2200000zi 4500 9.943973 CaOODSP 20251202083528 m o d f cr mn||||||||| 241009t20242024onca ob f000 0 eng d CaOODSP eng rda CaOODSP eng eng fre n-cn--- FB3-6/2024-7E-PDF Gnocchi, Stefano, author. The output-inflation trade-off in Canada / by Stefano Gnocchi, Fanny McKellips, Rodrigo Sekkel, Laure Simon, Yinxi Xie and Yang Zhang. [Ottawa] : Bank of Canada = Banque du Canada, 2024. ©2024 1 online resource (ii, 41 pages) : colour illustration. text txt rdacontent computer c rdamedia online resource cr rdacarrier Staff discussion paper = Document d'analyse du personnel, 1914-0568 ; 2024-7 ISSN assigned to different series. "Last updated: July 2, 2024." Includes bibliographical references (pages 36-41). "We explain how the Bank of Canada's policy models capture the trade-off between output and inflation in Canada. We start by briefly revisiting the determinants of the New Keynesian Phillips curve. Next, we provide an overview of the Phillips curves that are currently embedded in the two main policy models the Bank uses for macroeconomic projections and analysis, known for short as ToTEM and LENS. We then discuss the challenges in identifying the trade-off between output and inflation and provide new estimates of the trade-off using recently proposed methods. Finally, we contrast these estimates with the ones in the Bank's policy models"--Abstract, page ii. Includes abstracts in English and French. Inflation (Finance) Canada Econometric models. Input-output analysis Canada Econometric models. Monetary policy Canada Econometric models. Inflation Canada Modèles économétriques. Analyse input-output Canada Modèles économétriques. Politique monétaire Canada Modèles économétriques. Bank of Canada, issuing body. Staff discussion paper (Bank of Canada) 2024-7. (CaOODSP)9.806273 PDF 695 KB https://publications.gc.ca/collections/collection_2024/banque-bank-canada/FB3-6-2024-7-eng.pdf