Probing potential output : monetary policy, credibility, and optimal learning under uncertainty / by James Yetman. : FB3-2/100-10E-PDF
Monetary authorities have put significant emphasis on attaining credibility for their policy objectives in recent years. Steps taken by the Bank of Canada have included announcing explicit inflation targets, publishing detailed accounts of inflation developments and the conduct of monetary policy, and issuing press releases explaining changes in the Bank Rate... The question addressed here is whether an increase in credibility increases the desirability of probing. In other words, should a monetary authority that has increased its credibility follow a more aggressive policy in order to obtain more precise estimates of the parameters of the economy?--Introduction
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| Department/Agency | Bank of Canada. |
|---|---|
| Title | Probing potential output : monetary policy, credibility, and optimal learning under uncertainty / by James Yetman. |
| Series title | Bank of Canada working paper1701-93972000-10 |
| Publication type | Series - View Master Record |
| Language | [English] |
| Format | Electronic |
| Electronic document | |
| Other formats | Paper-[English] |
| Note(s) | "Monetary authorities have put significant emphasis on attaining credibility for their policy objectives in recent years. Steps taken by the Bank of Canada have included announcing explicit inflation targets, publishing detailed accounts of inflation developments and the conduct of monetary policy, and issuing press releases explaining changes in the Bank Rate... The question addressed here is whether an increase in credibility increases the desirability of probing. In other words, should a monetary authority that has increased its credibility follow a more aggressive policy in order to obtain more precise estimates of the parameters of the economy?"--Introduction. The ISBN (0-662-29002-X) and ISSN (1192-5434) for the print edition have been incorrectly copied in this electronic publication. Résumé en français. |
| Publishing information | Ottawa - Ontario : Bank of Canada May 2000. |
| Description | 37p.graphs, references, table |
| ISSN | 1701-9397 |
| Catalogue number |
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| Subject terms | Monetary policy Inflation |
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