Sample calibration is a procedure that utilizes sample and national-level demographic distribution information to weight survey participants. The objective of calibration[...]

The days when secrecy and opacity were the bywords of central banking are gone. The advent of inflation targeting in the early 1990s acted as the catalyst for enhanced tr[...]

We present a model of central bank collateralized lending to study the optimal choice of the haircut policy. We show that a lending facility provides a bundle of two type[...]

The inflation targeting (IT) regime is 17 years old. With practice of IT now in more than 21 countries, there is enough evidence gathered to take stock of the IT experien[...]

A number of central banks publish their own business conditions survey based on non-random sampling methods. The results of these surveys influence monetary policy decisi[...]

This paper studies the interdependence between fiscal and monetary policies, and their joint role in the determination of the price level. The government is characterized[...]

In 2009, the Bank of Canada set its effective lower bound (ELB) at 25 basis points (bps). Given the recent experience of Sweden, Denmark, Switzerland and the euro area wi[...]

To investigate the extent to which the transparency of the Bank of Canada's monetary policy has improved, the authors examine empirically – over the period 30 October 200[...]

A key issue in the renewal of the inflation-control agreement is the question of the appropriate level of the inflation target. Many observers have raised concerns that w[...]

More than 80 central banks use a committee to take monetary policy decisions. The composition of the committee and the structure of the meeting can affect the quality of [...]