bound is relatively low, especially if the inflation target established for the monetary authority is 2 per cent or more … rate for lower inflation targets. Various caveats apply to drawing conclusions for Canada from the papers we surveyed …

horizons ranging from 6 to 24 months. We find that gold contains significant information for future inflation for several … countries, especially for those that have adopted formal inflation targets. This finding may arise from the manner in which … inflation expectations are formed in these countries, which may result in more rapidly mean-reverting inflation rates. Compared …

inflation. However, such studies have for the most part focused on linear models, ignoring potential non-linearities between … interest rates and inflation. Using two different non-linear models, we find that the relationship between interest rate yield … spreads and inflation changes for policy-relevant horizons in the United States is most pronounced at negative long …

specification with a time-changing variance and menu-cost effects. The variance of the notional distribution fell as inflation … lifetime of contracts. On balance, the evidence suggests that the long-run trade-off between inflation and the unemployment … rate is close to vertical at inflation rates of 2 per cent or more if productivity growth is near the average in recent …