The output-inflation trade-off in Canada / by Stefano Gnocchi, Fanny McKellips, Rodrigo Sekkel, Laure Simon, Yinxi Xie and Yang Zhang.: FB3-6/2024-7E-PDF
"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.
Permanent link to this Catalogue record:
publications.gc.ca/pub?id=9.943973&sl=0
| Department/Agency | Bank of Canada, issuing body. |
|---|---|
| Title | The output-inflation trade-off in Canada / by Stefano Gnocchi, Fanny McKellips, Rodrigo Sekkel, Laure Simon, Yinxi Xie and Yang Zhang. |
| Series title | Staff discussion paper = Document d'analyse du personnel, 1914-0568 ; 2024-7 |
| Publication type | Series - View Master Record |
| Language | [English] |
| Format | Electronic |
| Electronic document | |
| Note(s) | ISSN assigned to different series. "Last updated: July 2, 2024." Includes bibliographical references (pages 36-41). Includes abstracts in English and French. |
| Publishing information | [Ottawa] : Bank of Canada = Banque du Canada, 2024. ©2024 |
| Author / Contributor | Gnocchi, Stefano, author. |
| Description | 1 online resource (ii, 41 pages) : colour illustration. |
| Catalogue number |
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| Subject terms | 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. |
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