C6 - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - Bank of Canada
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Bank of Canada RSS Feedsen2024-03-28T19:05:07+00:00Monetary Policy Lag, Zero Lower Bound, and Inflation Targeting
https://www.bankofcanada.ca/2009/01/working-paper-2009-2/
Although the concept of monetary policy lag has historical roots deep in the monetary economics literature, relatively little attention has been paid to the idea. In this paper, we build on Svensson's (1997) inflation targeting framework by explicitly taking into account the lagged effect of monetary policy and characterize the optimal monetary policy reaction function both in the absence and in the presence of the zero lower bound on the nominal interest rate.2009-01-01T15:49:46+00:00enMonetary Policy Lag, Zero Lower Bound, and Inflation Targeting2009-01-01Inflation targetsMonetary policy frameworkMonetary policy implementationWorking Paper 2009-2 https://www.bankofcanada.ca/wp-content/uploads/2010/02/wp09-2.pdfMonetary Policy Lag, Zero Lower Bound, and Inflation TargetingShin-Ichi NishiyamaJanuary 2009CC6C63EE5E52E58