Format:
1 Online-Ressource (circa 44 Seiten)
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ISBN:
9781475541298
Series Statement:
IMF working paper WP/16, 192
Content:
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
Additional Edition:
Erscheint auch als Druck-Ausgabe Obstfeld, Maurice How to Improve Inflation Targeting in Canada Washington, D.C. : International Monetary Fund, 2016 ISBN 9781475541298
Language:
English
Keywords:
Arbeitspapier
;
Graue Literatur
DOI:
10.5089/9781475541298.001
URL:
Volltext
(kostenfrei)
URL:
Volltext
(kostenfrei)
Author information:
Obstfeld, Maurice 1952-
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