Monetary policy framework - Bank of Canada
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Bank of Canada RSS Feedsen2024-03-29T05:47:25+00:00Price Level Targeting in a Small Open Economy with Financial Frictions: Welfare Analysis
https://www.bankofcanada.ca/2008/10/working-paper-2008-40/
How important are the benefits of low price-level uncertainty? This paper explores the desirability of price-level path targeting in an estimated DSGE model fit to Canadian data. The policy implications are based on social welfare evaluations.2008-10-18T13:54:27+00:00enPrice Level Targeting in a Small Open Economy with Financial Frictions: Welfare Analysis2008-10-18Financial stabilityInflation and pricesMonetary policy frameworkWorking Paper 2008-40 https://www.bankofcanada.ca/wp-content/uploads/2010/02/wp08-40.pdfPrice Level Targeting in a Small Open Economy with Financial Frictions: Welfare AnalysisAli DibCaterina MendicinoYahong ZhangOctober 2008EE3E31E32E5E52Adopting Price-Level Targeting under Imperfect Credibility: An Update
https://www.bankofcanada.ca/2008/10/working-paper-2008-37/
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.2008-10-03T16:16:08+00:00enAdopting Price-Level Targeting under Imperfect Credibility: An Update2008-10-03CredibilityMonetary policy frameworkWorking Paper 2008-37 https://www.bankofcanada.ca/wp-content/uploads/2010/02/wp08-37.pdfAdopting Price-Level Targeting under Imperfect Credibility: An UpdateOleksiy KryvtsovMalik ShukayevAlexander UeberfeldtOctober 2008EE3E31E5E52