Price stability, inflation targets, and monetary policy / Bank of Canada.

Acknowledgments, ii -- Introduction / Tiff Macklem, vii -- Session 1. The Intertemporal Nature of Information Conveyed by the Price System / Serge Coulombe, 3 -- Discussion / Agathe Coté, 29 -- Is the CPI a Suitable Measure for Deflning Price Stability? / Allan Crawford, Jean-Francois Fillion, and Thérése Laflkche, 39 -- Discussion / Bohdan Schultz, 74 -- Discussion / Benoit Camtichael, 77 -- General Discussion, 83 -- Session 2. Testing the Link Between Inflation and Growth / Steve Ambler and Emanuela Cardia, 89 -- Discussion / Simon van Norden, 117 -- Discussion / John W, Galbraith, 123 -- General Discussion, 127 -- Session 3. Non-Linearities in the Output-Inflation Reiationship / Chantal Dupasquier and Nicholas Ricketts, 131 -- Discussion / Nicholas Rowe, 174 -- Testing for Downward Rigidity in Nominal Wage Rates / Allan Crawford and Alan Harrison, 179 -- Discussion / Audra J. Bowlus, 219 -- Discussion / Pierre Fortin, 226 -- General Discussion, 238 -- Session 4: Round Table -- Background Paper: The Monetary Frameworks of Four Inflaflon-Targeflng Countries / Robert Lafrance, 245 -- Inflation Targeting—The New Zealand Experience / Murray Sherwin, 261 -- Inflation Targeting—The U.K. Experience / William A. Allen, 275 -- Inflation Targeting—The Swedish Experience / Lars Heikensten, 281 -- General Discussion, 296 -- Session 5. On the Costs and Benefits of Price Stability / Richard Black, Donald Coletti, and Sophie Monnier, 303 -- Discussion / Steven James, 343 -- Discussion / Michael B. Devereux, 347 -- General Discussion, 356 -- Session 6. The Credibility of Monetary Policy: International Evidence Based on Surveys of Expected Inflation / David Johnson, 361 -- Discussion / Graydon Paulin, 396 -- Discussion / Victoria Miller, 403 -- General Discussion, 409 -- On Policy Rules for Price Stability / Richard Black, Tiff Macklem, and David Rose, 411 -- Discussion / Gregor Smith, 462 -- General Discussion, 469 -- Session 7. Wrap-Up -- Wrap-Up Discussion / W. Paul Jenkins, 475 -- Wrap-Up Discussion / Norman Cameron, 485 -- Wrap-Up Discussion / William Scarth, 495 -- General Discussion, 503 -- The Participants, 509.