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Bank of Canada RSS Feedsen2024-03-28T08:41:49+00:00The Zero Bound on Nominal Interest Rates: Implications for Monetary Policy
https://www.bankofcanada.ca/wp-content/uploads/2010/06/murchison.pdf
One of the most important factors that must be considered if countries are thinking about lowering the target level of inflation much below 2 per cent is the zero interest bound. Targeting inflation rates that are too low, the authors note, may restrict the ability of monetary policy to respond to economic shocks by limiting the amount by which interest rates can be eased.2007-12-11T15:13:19+00:00enThe Zero Bound on Nominal Interest Rates: Implications for Monetary Policy2007-12-11The Zero Bound on Nominal Interest Rates: Implications for the Optimal Monetary Policy in Canada
https://www.bankofcanada.ca/2007/03/discussion-paper-2007-1/
The authors assess the performance of the Canadian economy under a variety of interest rate rules when the zero bound on nominal interest rates can bind. Their assessment is based on numerical simulations of a dynamic stochastic general-equilibrium model in a stochastic environment. Consistent with the literature, the authors find that the probability and consequences […]2007-03-07T13:52:06+00:00enThe Zero Bound on Nominal Interest Rates: Implications for the Optimal Monetary Policy in Canada2007-03-07Inflation: costs and benefitsInterest ratesMonetary policy frameworkDiscussion Paper 2007-1https://www.bankofcanada.ca/wp-content/uploads/2010/01/dp07-1.pdfThe Zero Bound on Nominal Interest Rates: Implications for the Optimal Monetary Policy in CanadaClaude LavoieHope PioroMarch 2007EE4E43E47E5E52