E5 - Monetary Policy, Central Banking, and the Supply of Money and Credit
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Survey-Based Estimates of the Term Structure of Expected U.S. Inflation
Surveys provide direct information on expectations, but only short histories are available at quarterly frequencies or for long-horizon expectations. -
ToTEM: The Bank of Canada's New Quarterly Projection Model
The authors provide a detailed technical description of the Terms-of-Trade Economic Model (ToTEM), which replaced the Quarterly Projection Model (QPM) in December 2005 as the Bank's principal projection and policy-analysis model for the Canadian economy.