Is Canada an optimal currency area? An inflation targeting perspective
提出一种基于货币联盟模型的方法，通过评估中期通胀可预测性来判断区域是否适合留在货币联盟，并应用于加拿大各省，发现除阿尔伯塔省外其他省份受国家货币政策影响不大。
Abstract We propose a method, based on the currency union model of Galí and Monacelli, to determine whether a region within an existing currency area belongs in the currency union. The method involves assessing the predictability of regional inflation rates at medium term horizons. We apply the method to the Canadian provinces and find that for all but Alberta there is little evidence of costs in terms of inflation arising from national monetary policy. For Alberta, the evidence suggests that they are not as well served by the inflation targeting framework and that a more flexible policy environment might improve inflation outcomes.