The Politics of Canadian Monetary Policy: Reassessing Canadian Inflation, Part II. Issue 3 (2nd July 2016)

• Record Type: Journal Article
• Authors: Aquanno, Scott; Brennan, Jordan
• Is Part Of: Journal of economic issues. Volume 50:Issue 3(2016)
• Page Start: 814
• Page End: 833
• Publication Date: 2016-07-02
• Subjects: Bank of Canada -- conflict theory -- distribution -- endogeneity of money -- inflation -- labor -- monetary policy; B52 -- D30 -- D40 -- E52 -- E58; Economics -- Periodicals; Economics; Économie politique -- Périodiques; Economie; ECONOMICS; ECONOMIC POLICY; Periodicals; 330.05
• DOI: 10.1080/00213624.2016.1213589
• Languages: English
• ISSNs: 0021-3624

Abstract

Abstract: This is the second installment of a two-part article on Canadian inflation. This article builds on the traditional conflict theory of inflation by applying insights from the post-Keynesian and micro-politics theories of money and central bank policy. It argues that the Bank of Canada's inflation targets — not just inflation itself — have to be understood in terms of social conflict and power. This analysis extends the evidence on the distributive implications of Canadian inflation offered in Part I.