Interest Rates, Unemployment and Inflation in the 1990s: The Canadian Experience

Pierre Fortin
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Pierre Fortin: Professor of Economics at the Universite du Quebec, Montreal

A chapter in The Review of Economic Performance and Social Progress 2001: The Longest Decade: Canada in the 1990s, 2001, vol. 1 from Centre for the Study of Living Standards

Abstract: In this chapter, Pierre Fortin provides a critique of the conduct of Canadian monetary policy in the 1990s, a critique that he developed throughout the decade. While not denying that the US economic slowdown in the early 1990s reduced growth in Canada, Fortin lays the blame for the inferior economic performance of the Canadian economy relative to the U.S. economy squarely on the back of the Bank of Canada, and dismisses structural explanations of the recession as lacking an empirical basis.

Keywords: Monetary Policy; Inflation; Inflation Reduction; Inflation Policy; Growth; Recession; Well-being; Wellbeing; Well Being; Unemployment; NAIRU; Phillips Curve; Canada (search for similar items in EconPapers)
JEL-codes: E52 E63 E31 O51 O40 (search for similar items in EconPapers)
ISBN: 0-88645-190-6

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