|
1.
|
This paper measures the welfare gains of switching from inflation-targeting to price-level targeting under imperfect credibility. Vestin (2006) shows that when the moneta[...]
2008 | Text | Staff Working Paper - Document de travail du personnel |
|
|
2.
|
Using the Bank of Canada's main projection and policy-analysis model, ToTEM, this paper measures the welfare gains of switching from inflation targeting to price-level ta[...]
2009 | Text | Staff Working Paper - Document de travail du personnel |
|
|
3.
|
This paper measures the welfare gains of switching from inflation-targeting to price-level targeting under imperfect credibility. Vestin (2006) shows that when the moneta[...]
2008 | Text | Staff Working Paper - Document de travail du personnel |
|
|
4.
|
The empirical relationship between the average growth rate and the volatility of growth rates, both over time and across countries, has important policy implications, whi[...]
2006 | Text | Staff Working Paper - Document de travail du personnel |
|
|
5.
|
Like the gold standard, price level targeting (PT) involves not letting past deviations of inflation be bygones; both regimes return the price level (or price of gold) to[...]
2008 | Text | Staff Working Paper - Document de travail du personnel |
|
|
6.
|
The authors characterize the equilibrium for a small economy in a dynamic Heckscher-Ohlin model with uncertainty. They show that, when trade is balanced period-by-period,[...]
2006 | Text | Staff Working Paper - Document de travail du personnel |
|
|
7.
|
A view advanced in the aftermath of the late-2000s financial crisis is that lower than optimal interest rates lead to excessive risk taking by financial intermediaries. W[...]
2011 | Text | Staff Working Paper - Document de travail du personnel |
|
|
8.
|
This paper examines the role of monetary policy in an environment with aggregate risk and incomplete markets. In a two-period overlapping-generations model with aggregate[...]
2007 | Text | Staff Working Paper - Document de travail du personnel |
|
|
9.
|
In this paper, we use an economics decision-making experiment to test a key assumption underpinning the efficacy of price-level targeting relative to inflation targeting [...]
2011 | Text | Staff Working Paper - Document de travail du personnel |
|
|
10.
|
Various papers have suggested that Price-Level targeting is a welfare improving policy relative to Inflation targeting. From a practical standpoint, this raises an import[...]
2010 | Text | Staff Working Paper - Document de travail du personnel |
|
