E5 - Monetary Policy, Central Banking, and the Supply of Money and Credit - Bank of Canada
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Bank of Canada RSS Feedsen2024-03-28T18:22:58+00:00Are Bygones not Bygones? Modeling Price Level Targeting with an Escape Clause and Lessons from the Gold Standard
https://www.bankofcanada.ca/2008/08/working-paper-2008-27/
Like the gold standard, price level targeting (PT) involves not letting past deviations of inflation be bygones; both regimes return the price level (or price of gold) to its target. The experience of suspension of the gold standard in World War I, resumption in the 1920s (for some countries at a different parity), and final abandonment is reviewed.2008-08-28T11:03:43+00:00enAre Bygones not Bygones? Modeling Price Level Targeting with an Escape Clause and Lessons from the Gold Standard2008-08-28CredibilityMonetary policy frameworkWorking Paper 2008-27 https://www.bankofcanada.ca/wp-content/uploads/2010/02/wp08-27.pdfAre Bygones not Bygones? Modeling Price Level Targeting with an Escape Clause and Lessons from the Gold StandardPaul MassonMalik ShukayevAugust 2008EE3E31E5E52Price-Level versus Inflation Targeting with Financial Market Imperfections
https://www.bankofcanada.ca/2008/08/working-paper-2008-26/
This paper compares price-level-path targeting (PT) with inflation targeting (IT) in a sticky-price, dynamic, general equilibrium model augmented with imperfections in both the debt and equity markets.2008-08-18T10:50:59+00:00enPrice-Level versus Inflation Targeting with Financial Market Imperfections2008-08-18Economic modelsInflation targetsMonetary policy frameworkWorking Paper 2008-26 https://www.bankofcanada.ca/wp-content/uploads/2010/02/wp08-26.pdfPrice-Level versus Inflation Targeting with Financial Market ImperfectionsFrancisco CovasYahong ZhangAugust 2008EE4E40E5E50