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Fixing Canada’s CPI: A Simple and Sensible Policy Change for Minister Flaherty

Author

Listed:
  • Christopher Ragan

    (McGill University)

Abstract

Fixing measurement errors in the Consumer Price Index is a small idea that offers big payoffs to Canadians and the government. In this paper, the author says if the upcoming federal budget devoted the resources needed to improve Statistics Canada’s measurement of the Consumer Price Index, Canadians would have a truer sense of changes in the cost of living, monetary policy would be guided by a more accurate measure of inflation, and Minister Flaherty would more easily achieve the government’s commitment to balance the federal budget by 2015/16.

Suggested Citation

  • Christopher Ragan, 2011. "Fixing Canada’s CPI: A Simple and Sensible Policy Change for Minister Flaherty," e-briefs 111, C.D. Howe Institute.
    • Handle: RePEc:cdh:ebrief:111
    as

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    File URL: https://www.cdhowe.org/public-policy-research/fixing-canadas-cpi-simple-and-sensible-policy-change-minister-flaherty
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    References listed on IDEAS

    as
    1. Gregor W. Smith, 2009. "The Missing Links: Better Measures of Inflation and Inflation Expectations in Canada," C.D. Howe Institute Commentary, C.D. Howe Institute, issue 287, April.
    2. James Rossiter, 2005. "Measurement Bias in the Canadian Consumer Price Index," Staff Working Papers 05-39, Bank of Canada.
    Full references (including those not matched with items on IDEAS)

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    Cited by:

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    2. Bev Dahlby & Ergete Ferede, 2011. "What Does it Cost Society to Raise a Dollar of Tax Revenue? The Marginal Cost of Public Funds," C.D. Howe Institute Commentary, C.D. Howe Institute, issue 324, March.
    3. David A. Dodge & Richard Dion, 2011. "Chronic Healthcare Spending Disease: A Macro Diagnosis and Prognosis," C.D. Howe Institute Commentary, C.D. Howe Institute, issue 327, April.
    4. Pierre Fortin, 2011. "Staying the Course: Quebec's Fiscal Balance Challenge," C.D. Howe Institute Commentary, C.D. Howe Institute, issue 325, March.
    5. John Richards, 2011. "Aboriginal Education in Quebec: A Benchmarking Exercise," C.D. Howe Institute Commentary, C.D. Howe Institute, issue 328, April.

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    More about this item

    Keywords

    Monetary Policy; Consumer Price Index (CPI); Statistics Canada; inflation rate;
    All these keywords.

    JEL classification:

    • E31 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Price Level; Inflation; Deflation

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