Monetary policy under uncertainty : practice versus theory / by Rhys Mendes, Stephen Murchison and Carolyn A. Wilkins.: FB3-6/2017-13E-PDF
"For central banks, conducting policy in an environment of uncertainty is a daily fact of life. This uncertainty can take many forms, ranging from incomplete knowledge of the correct economic model and data to future economic and geopolitical events whose precise magnitudes and effects cannot be known with certainty. The objective of this paper is to summarize and compare the main results that have emerged in the literature on optimal monetary policy under uncertainty with actual central bank behaviour. To this end, three examples are studied in which uncertainty played a significant role in the Bank of Canada’s policy decision, to see how closely they align with the predictions from the literature"--Abstract, p. ii.
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| Department/Agency | Bank of Canada, issuing body. |
|---|---|
| Title | Monetary policy under uncertainty : practice versus theory / by Rhys Mendes, Stephen Murchison and Carolyn A. Wilkins. |
| Series title | Bank of Canada staff discussion paper, 1914-0568 ; 2017-13 |
| Publication type | Series - View Master Record |
| Language | [English] |
| Format | Electronic |
| Electronic document | |
| Note(s) | "November 2017." Includes bibliographical references. Includes abstract in French. |
| Publishing information | [Ottawa] : Bank of Canada, 2017. |
| Author / Contributor | Mendes, Rhys R., author. Wilkins, Carolyn, author. Murchison, Stephen, author. |
| Description | iii, 44 p. : col. charts |
| Catalogue number |
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| Subject terms | Monetary policy |
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