/maxbellschool/taxonomy/term/1182/all en /maxbellschool/channels/news/focus-shifts-labour-market-inflation-fight-investment-executive-344872 <p>January 10, 2023 | Professor<a href="/maxbellschool/our-people/mpp-teaching-faculty/chris-ragan"> Christopher Ragan</a>, Director of the Max Bell School of Public Policy spoke at the Global Risk Institute webinar and said it's "very unlikely" that the Bank of Canada has gone too far already and overtightened. He pointed to inflation expectations from businesses for the next two years remaining above the central bank's target range.</p> Thu, 12 Jan 2023 16:16:54 +0000 kibel.aker@mcgill.ca 2946 at /maxbellschool /maxbellschool/channels/news/chris-ragan-rebuilding-canadian-economy-post-covid-era-government-analytics-monthly-podcast-342232 <p>September 12, 2022 | On Government Analytics' The Monthly podcast with host Peter Kent, director Chris Ragan spoke about rebuilding the Canadian economy in the post-Covid era. At the recent Jackson Hole economic policy <a href="https://www.kansascityfed.org/research/jackson-hole-economic-symposium/about-jackson-hole-economic-symposium/" rel="noopener" target="_blank">symposium</a>, Jerome Powell, the head of the US central bank, spent 8-minutes making it abundantly clear he’s going to get inflation under control.</p> Thu, 22 Sep 2022 00:17:03 +0000 victoria.weston@mcgill.ca 2890 at /maxbellschool /maxbellschool/max-policy/politics-and-central-banking Politicizing monetary policy may be expedient for politicians, but it's dangerous for Canada's economy. Tue, 31 May 2022 14:48:16 +0000 Chris Ragan 2840 at /maxbellschool /maxbellschool/channels/news/economist-chris-ragan-problems-modern-monetary-theory-hub-336989 <p>January 20, 2022 | Economist and Director <a href="/maxbellschool/our-people/mpp-teaching-faculty/christopher-ragan">Chris Ragan</a> joins this episode of Hub Dialogues to discuss the proper role of central banks, the problems with Modern Monetary Theory, and the need to rethink fiscal priorities in recovering from the devastation of the pandemic.</p> <p><a href="https://thehub.ca/2022-01-20/economist-chris-ragan-on-the-problems-with-modern-monetary-theory/">Listen to the conversation or read the transcript here.</a></p> Thu, 20 Jan 2022 17:35:43 +0000 victoria.weston@mcgill.ca 2765 at /maxbellschool /maxbellschool/channels/news/us-inflation-coming-thanksgiving-dinner-globe-and-mail-335101 <p>November 23, 2021 | How does the public perception of inflation affect their expectations for the future? While the devastation of historic inflation in the United States lingers only in the minds of older Americans, younger generations are also feeling the strain on their spending habits. In this article for the Globe and Mail, Max Bell School instructor David Shribman comments on the trajectory of inflation, and how this may affect everyday life. </p> Tue, 23 Nov 2021 20:15:19 +0000 chloe.rodriguez@mail.mcgill.ca 2723 at /maxbellschool /maxbellschool/max-policy/bank-canada-mandate Interviewed by Sean Speer, Chris Ragan outlines the history of the Bank of Canada's agreement with the federal government leading up to the mandate's expiration in January 2022. Mon, 22 Nov 2021 20:32:11 +0000 Chris Ragan and Sean Speer 2721 at /maxbellschool /maxbellschool/channels/news/leave-it-alone-chris-ragan-comments-bank-canada-mandate-debate-hub-334789 <p>November 12, 2021 | Following a dialogue between The Hub and Max Bell School Director Chris Ragan, this article outlines the history of the Bank of Canada's agreement with the federal government leading up to the mandate's expiration in January 2022.</p> <p><a href="https://thehub.ca/2021-11-12/chris-ragan-comments-on-the-bank-of-canada-mandate-debate/">Read the article.</a> </p> Mon, 15 Nov 2021 19:32:14 +0000 chloe.rodriguez@mail.mcgill.ca 2713 at /maxbellschool /maxbellschool/channels/news/election-campaign-and-inflation-set-perfect-storm-usually-sleepy-review-boc-monetary-policy-globe-332788 <p>August 20, 2021 | The Bank of Canada's mandate renewal—usually a mundane and technical affair—is generating interest in the political sphere as Canadas 44th federal election gets underway. In this Globe and Mail article, Max Bell School director <a href="/maxbellschool/our-people/mpp-teaching-faculty/chris-ragan">Chris Ragan</a> argues for careful consideration of all the mandate options on the table: from targeting GDP level, to adopting a dual mandate, to maintaining the status quo. </p> Thu, 26 Aug 2021 12:46:41 +0000 matthew.mclaughlin2@mail.mcgill.ca 2644 at /maxbellschool /maxbellschool/channels/news/key-canadian-economic-prosperity-no-ones-talking-about-globe-and-mail-332378 <p>What is the future of monetary policy in Canada? Journalist Andrew Coyne breaks down options for the Bank of Canada's mandate renewal, highlighting the ideas presented at <a href="/maxbellschool/choosingtherighttarget">Choosing the Right Target</a>: a recent conference hosted by the Max Bell School.</p> <p><a href="https://www.theglobeandmail.com/opinion/article-the-key-to-canadian-economic-prosperity-that-no-ones-talking-about/">Read the article</a>.</p> Thu, 12 Aug 2021 17:24:41 +0000 matthew.mclaughlin2@mail.mcgill.ca 2626 at /maxbellschool /maxbellschool/article/articles-choosing-right-target/21st-century-credibility-problem Our keynote speaker, Narayana Kocherlakota, argues for the asymmetry of central bank credibility Wed, 04 Aug 2021 19:53:48 +0000 Narayana Kocherlakota 2613 at /maxbellschool /maxbellschool/article/articles-choosing-right-target/going-beyond-inflation-targeting-mantra-dual-mandate <p>Every five years over the last three decades, the Government of Canada goes through a ritual of renewing the mandate of its central bank. To most Canadians, this renewal process must be somewhat puzzling: why would the government want to mandate an arm’s length public agency of the Canadian federal state to do already what, to some extent, its central bank is broadly mandated to do in the preamble to the 85-year old Bank of Canada Act?</p> Fri, 23 Apr 2021 20:05:36 +0000 Marc Lavoie and Mario Seccareccia 2464 at /maxbellschool /maxbellschool/article/articles-choosing-right-target/time-change-bank-canadas-mandate <p>In 2019, New Zealand created a formal monetary policy committee and enshrined the dual mandate (price stability and full employment) into their law and the policy targets agreement between the government and the Reserve Bank of New Zealand.</p> <p>This important improvement in transparency about monetary policy objectives, combined with higher levels of other types of transparency about the analytical framework and decision-making process, has put the Reserve Bank of New Zealand back into the club of the most transparent central banks in the world.</p> Fri, 23 Apr 2021 17:54:52 +0000 Asya Kostanyan & Douglas Laxton 2463 at /maxbellschool /maxbellschool/channels/news/are-we-going-be-able-pull-how-bank-canada-doused-financial-fire-last-spring-globe-and-mail-330069 <p>March 27, 2021 | In this Globe and Mail article, Max Bell School Director Chris Ragan weighs in on the Bank of Canada's role in pandemic economic recovery, discussing monetary policy topics including quantitative easing and inflation risks.</p> <p><a href="https://www.theglobeandmail.com/business/article-are-we-going-to-be-able-to-pull-this-off-how-the-bank-of-canada-doused/">Read the article</a>.</p> Mon, 29 Mar 2021 18:01:07 +0000 matthew.mclaughlin2@mail.mcgill.ca 2423 at /maxbellschool /maxbellschool/article/articles-choosing-right-target/history-inflation-targeting-and-case-maintaining-status-quo Michelle Alexopolous argues that the evidence in favour of the various alternatives is not yet strong enough to justify the risks involved in abandoning the status quo. Thu, 18 Feb 2021 15:09:40 +0000 Michelle Alexopoulos and Edda Claus 2383 at /maxbellschool /maxbellschool/article/articles-choosing-right-target/incorporating-asset-prices-it-framework Sylvain Leduc of the Federal Reserve Bank of San Francisco on the merits of incorporating asset prices into the inflation targeting framework. Tue, 09 Feb 2021 17:56:00 +0000 Sylvain Leduc and Jean-Francois Rouillard 2368 at /maxbellschool