Wai-Ming Ho - Latest - Bank of Canada
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Bank of Canada RSS Feedsen2024-03-28T14:00:51+00:00Simple Monetary Policy Rules in an Open-Economy, Limited-Participation Model
https://www.bankofcanada.ca/2003/12/working-paper-2003-38/
The authors assess the stabilization properties of simple monetary policy rules within the context of a small open-economy model constructed around the limited-participation assumption and calibrated to salient features of the Canadian economy. By relying on limited participation as the main nominal friction that affects the artificial economy, the authors provide an important check of the robustness of the results obtained using alternative environments in the literature on monetary policy rules, most notably the now-standard "New Keynesian" paradigm that emphasizes rigidities in the price-setting mechanism.2003-12-02T16:15:30+00:00enSimple Monetary Policy Rules in an Open-Economy, Limited-Participation Model2003-12-02Monetary policy frameworkMonetary policy transmissionWorking Paper 2003-38 https://www.bankofcanada.ca/wp-content/uploads/2010/02/wp03-38.pdfSimple Monetary Policy Rules in an Open-Economy, Limited-Participation ModelScott HendryWai-Ming HoKevin MoranDecember 2003EE4E44E5E52E58FF3F31