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Concerns over rising inequality have heightened in the years following the 2007-09 global financial crisis and, more recently, with the COVID-19 pandemic. This staff discussion paper reviews the historical facts regarding income inequality in Canada, comparing Canada with the United States and...
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Measurement error in historical data distorts descriptive analyses based on binary classifications. Modern replications … of deficiencies in retrospective CPI estimates for the 19th century show that measurement issues cause misclassification …. Using various approaches to control for measurement error in 19th century US CPI data, a series of stylized facts emerge: (i …
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inflation bias as monetary policy tries to exploit nominal wage contracts to address labor-market distortions. Although an … inflation target eliminates this inflation bias, it creates a conflict between monetary policy and discretionary fiscal policy …
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