NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH

Seventy Years of Central Banking: The Bank of Canada in International Context, 1935-2005

Michael D. Bordo, Angela Redish

NBER Working Paper No. 11586
Issued in August 2005
NBER Program(s):Development of the American Economy, Monetary Economics

On the seventieth birthday of the Bank of Canada, we evaluate the Bank's contribution to monetary policy in an international context. We focus on: the reasons for the establishment of the central bank in 1935, its unique record of floating in a sea of fixed currencies under Bretton Woods; its experience with the Great Inflation and monetarism; its pioneering adoption of inflation targeting; and recent innovations in the payments and the phasing out of reserve requirements.

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Document Object Identifier (DOI): 10.3386/w11586

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