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Bank of Canada RSS Feedsen2024-03-29T00:42:59+00:00Adopting Price-Level Targeting under Imperfect Credibility in ToTEM
https://www.bankofcanada.ca/2009/05/working-paper-2009-17/
Using the Bank of Canada's main projection and policy-analysis model, ToTEM, this paper measures the welfare gains of switching from inflation targeting to price-level targeting under imperfect credibility. Following the policy change, private agents assign a probability to the event that the policy-maker will revert to inflation-targeting next period.2009-05-03T15:26:15+00:00enAdopting Price-Level Targeting under Imperfect Credibility in ToTEM2009-05-03Monetary policy frameworkMonetary policy implementationWorking Paper 2009-17https://www.bankofcanada.ca/wp-content/uploads/2010/02/wp09-17.pdfAdopting Price-Level Targeting under Imperfect Credibility in ToTEMGino CateauOleksiy KryvtsovMalik ShukayevAlexander UeberfeldtMay 2009EE3E31E5E52