00000nam 2200000zi 4500 9.883471 CaOODSP 20221107170600 m o d f cr |n||||||||| 200113t20192019oncd ob f000 0 eng d CaOODSP eng rda CaOODSP eng fre n-cn--- FB3-5/2019-52E-PDF Matveev, Dmitry, author. Monetary policy and government debt dynamics with commitment / by Dmitry Matveev. Ottawa : Bank of Canada, 2019. ©2019 1 online resource (ii, 50 pages) : figures. text txt rdacontent computer c rdamedia online resource cr rdacarrier Bank of Canada staff working paper, 1701-9397 ; 2019-52 "December 2019." Includes bibliographical references (pages 30-33). "It is well known that the global economic downturn of 2008–2009 and subsequent fiscal stimulus left many advanced economies with unprecedented levels of government debt. It is also well known that monetary policy plays an important role in government debt dynamics. This creates concerns that central banks might use their influence over inflation and the price of government bonds to reduce the burden of government debt. Moreover, such policy bias is more likely to emerge when a central bank conducts policy period by period without binding itself to a preset course of actions. This paper examines the validity of such concerns"--page 1. Includes abstract in French. Monetary policy Mathematical models. Debts, Public. Politique monétaire Modèles mathématiques. Dettes publiques. Bank of Canada. Staff working paper (Bank of Canada) 2019-52. (CaOODSP)9.806221 PDF 1.61 MB https://publications.gc.ca/collections/collection_2020/banque-bank-canada/FB3-5-2019-52-eng.pdf