How to Improve Inflation Targeting in Canada /
Routine publication of the forecast path for the policy interest rate (i.e. 'conventional forward guidance') would improve the transparency of monetary policy. It would also improve policy effectiveness through its influence on expectations, particularly when there is a risk of low inflati...
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| 其他作者: | , , |
| 格式: | 杂志 |
| 语言: | English |
| 出版: |
Washington, D.C. :
International Monetary Fund,
2016.
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| 丛编: | IMF Working Papers; Working Paper ;
No. 2016/192 |
| 在线阅读: | Full text available on IMF |
| 总结: | Routine publication of the forecast path for the policy interest rate (i.e. 'conventional forward guidance') would improve the transparency of monetary policy. It would also improve policy effectiveness through its influence on expectations, particularly when there is a risk of low inflation, and the policy rate is constrained by the effective lower bound. Model simulations indicate that a potent macroeconomic strategy, for returning the Canadian economy to potential, combines conventional forward guidance with a fiscal stimulus. As a response to the effective lower bound constraint, and the decline in the world equilibrium real interest rate, this strategy is preferable to raising the inflation target. |
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| Item Description: | <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required |
| 实物描述: | 1 online resource (43 pages) |
| 格式: | Mode of access: Internet |
| ISSN: | 1018-5941 |
| 访问: | Electronic access restricted to authorized BRAC University faculty, staff and students |