E52 - Monetary Policy - Bank of Canada
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Bank of Canada RSS Feedsen2024-03-29T14:40:48+00:00Adopting Price-Level Targeting under Imperfect Credibility
https://www.bankofcanada.ca/2008/02/working-paper-2008-3/
This paper measures the welfare gains of switching from inflation-targeting to price-level targeting under imperfect credibility. Vestin (2006) shows that when the monetary authority cannot commit to future policy, price-level targeting yields higher welfare than inflation targeting.2008-02-03T10:46:39+00:00enAdopting Price-Level Targeting under Imperfect Credibility2008-02-03CredibilityMonetary policy frameworkWorking Paper 2008-3 https://www.bankofcanada.ca/wp-content/uploads/2010/02/wp08-3.pdfAdopting Price-Level Targeting under Imperfect CredibilityOleksiy KryvtsovMalik ShukayevAlexander UeberfeldtFebruary 2008EE3E31E5E52