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RECENT PUBLICATIONS


RESEARCH STUDIES

Inflation Targeting in Canada Re-evaluated
February 2020
The present study re-evaluates the inflation-targeting monetary framework in Canada with a broader perspective by analyzing its impact on the real economy, macro economy, and financial economy rather than typically the performance of the inflation rate alone. It establishes that under this framework: Canada’s real economy has seen lower rates of domestic investment and GDP growth besides higher rates of unemployment; macro economy has experienced low inflation by virtue of cheap imports
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Monetary Policy in Canada: Time for Change
May 2019
Canada has mostly low and stable inflation rate since the introduction of the inflation targeting monetary framework in 1991. That is why there is hardly any review of the macroeconomic consequences of this framework in Canada. Present study questions the role of monetary policy in general and inflation targeting in particular with the help of important issues related to it and concludes that it is high time for a change. An irony of the inflation targeting is that price stability has amazingly been achieved in Canada
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PAY GAP SURVEYS

Pay Gap between CEOs and Workers in Canadian Industry, 2019
January 2020

2019 survey examines the pay gap between the CEOs and workers in the Canadian industry as a whole and also in its different sectors.

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Pay Gap between CEOs and Workers in Canadian Industry, 2018
January 2019

2018 survey covers how big is the pay gap between the CEOs and all other workers in the Canadian industry as a whole and also in its different sectors

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COMMENTARIES

Why Macroeconomic Structural and Wage-Price Indicators are Puzzling the Policy-Makers
JULY 2019
This commentary tries to answer the puzzling questions – why there is disconnect between inflation and unemployment, unemployment rate and wage rate, monetary policy rate stance and real economy, economic buoyancy and price-wage indicators; and also, why neutral interest rate and natural unemployment rate are declining. it points to the non-representation of the structural realities by the economic data. As official measurements have been deviating
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Inflation Targeting Needs Re-examination in the Developed Economies
October 2018
Whether macroeconomy is up or down and asset markets hawkish or dovish, surprisingly inflation rate has done very well during last two to three decades in the developed economies. This raises so many questions. Has price level, a signal of macro level economic activity, has lost its telling power because of monetary policy engineering? How are relative prices so well behaved that these never upset the macro price level? How could relative prices, especially of consumer goods….
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