Canada: Selected Issues

June 16, 2006

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Format: Chicago

Canada: Selected Issues, (USA: International Monetary Fund, 2006) accessed November 22, 2024

Summary

This paper documents two aspects of Canada’s regional diversity and compares the results with those across U.S. regions. Although gradually converging, Canadian provinces exhibit a considerably diverse economic structure. The paper suggests that the reduction in macroeconomic volatility in Canada after the introduction of inflation targeting is largely attributable to the reaction of the private sector to the establishment of a credible monetary policy framework. Reduction in personal income taxation provides considerably larger efficiency gains than a reduction in the effective Goods and Services Tax (GST).

Subject: Financial services, Inflation, Inflation targeting, Monetary policy, Oil prices, Output gap, Prices, Production, Real interest rates

Keywords: CR, Efficiency gain, Elasticity parameter, Exchange rate appreciation, Gain, GFM simulation, Global, GST reduction, Inflation, Inflation targeting, ISCR, Oil price, Oil prices, Output gap, Personal income taxation, Real interest rates, Statistics Canada

Publication Details

Pages:

24
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2006/229
Stock No:

1CANEA2006001
ISBN:

9781451807004
ISSN:

1934-7685

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