Princeton University Library Catalog

How to Improve Inflation Targeting in Canada [electronic resource] / Maurice Obstfeld.

Author:
Obstfeld, Maurice [Browse]
Format:
Book
Language:
English
Published/​Created:
Washington, D.C. : International Monetary Fund, 2016.
Description:
1 online resource (43 p.)
Series:
IMF Working Papers [More in this series]
Summary note:
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.
Source of description:
Description based on print version record.
ISBN:
  • 1475541295 :
Doi:
  • 10.5089/9781475541298.001
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