Jamie Armour

jamie-armour

Jamie has worked in the Financial Stability Department since 2011 supporting the Bank’s work analyzing international financial sector policies. Some of her previous work at the Bank included forecasting the Canadian economy and analysing core inflation measures and monetary policy rules. She holds an MA in economics from the University of British Columbia.

Contact

Jamie Armour

Financial Stability
Securities System Oversight

Bank of Canada
234 Laurier Avenue West
Ottawa, ON, K1A 0G9

Latest

11 June 2006 Evaluating Measures of Core Inflation

Bank of Canada Review - Summer 2006 Thérèse Laflèche, Jamie Armour
Since the Bank of Canada adopted inflation targeting in 1991, it has focused on a measure of core inflation as a shorter-term guide for monetary policy. When the targets were renewed in 2001, the Bank adopted CPIX as its measure of core inflation because of the advantages it offered. Leflèche and Armour review the experience with CPIX and whether the criteria used to select it in 2001 still favour the measure today. They describe the various measures of core inflation monitored by the Bank and evaluate them on the basis of the volatility of the components, the volatility of the core measures themselves, absence of bias relative to total CPI, predictive power, and certain practical criteria, including timeliness and credibility. They conclude that CPIX still satisfies all the empirical and practical criteria.
Content Type(s): Publications, Bank of Canada Review Article Topic(s): Inflation and prices, Inflation targets, Monetary policy framework

An Evaluation of Core Inflation Measures

Staff Working Paper 2006-10 Jamie Armour
The author provides a statistical evaluation of various measures of core inflation for Canada.
Content Type(s): Staff Research, Staff Working Papers Topic(s): Inflation and prices JEL Code(s): E, E3, E31

Taylor Rules in the Quarterly Projection Model

Staff Working Paper 2002-1 Jamie Armour, Ben Fung, Dinah Maclean
In recent years, there has been a lot of interest in Taylor-type rules. Evidence in the literature suggests that Taylor-type rules are optimal in a number of models and are fairly robust across different models.
Content Type(s): Staff Research, Staff Working Papers Topic(s): Economic models, Monetary policy framework, Uncertainty and monetary policy JEL Code(s): E, E5, E52

13 December 1999 Feedback Rules for Inflation Control: An Overview of Recent Literature

Bank of Canada Review - Winter 1999–2000 Jamie Armour, Agathe Côté
Feedback rules are rules aimed at guiding policy-makers as they face the problem of keeping inflation close to a desired path without causing variability elsewhere in the economy. These rules link short-term interest rates, controlled by the central bank, to the rate of inflation and/or its deviation from a target rate. The authors describe the most popular types of feedback rules and review some simulation results.
Content Type(s): Publications, Bank of Canada Review Article Topic(s): Interest rates

A Distant-Early-Warning Model of Inflation Based on M1 Disequilibria

Staff Working Paper 1996-5 Jamie Armour, Joseph Atta-Mensah, Walter Engert, Scott Hendry
A vector error-correction model (VECM) that forecasts inflation between the current quarter and eight quarters ahead is found to provide significant leading information about inflation. The model focusses on the effects of deviations of M1 from its long-run demand but also includes, among other things, the influence of the exchange rate, a simple measure of the output gap and past prices.
Content Type(s): Staff Research, Staff Working Papers Topic(s): Economic models, Monetary aggregates, Transmission of monetary policy JEL Code(s): E, E3, E37, E5, E52

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  • Financial Stability
  • Monetary Policy

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