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How Flexible Can Inflation Targeting Be?
Thorsten V. Koeppl
其他書名
Suggestions for the Future of Canada's Targeting Regime
出版C.D. Howe Institute, 2009
ISBN08880678289780888067821
URLhttp://books.google.com.hk/books?id=87Fy0AEACAAJ&hl=&source=gbs_api
註釋In Canada, inflation targeting is widely agreed to have been a success story, but questions about how the regime might be fine-tuned in 2011 remain open. This Commentary asks how much discretion an inflation-targeting Bank of Canada can be allowed without compromising the credibility of its low inflation goal and suggests a two-pronged approach to refining it's procedures. One prong strengthens the commitment to inflation control by tightening the explicit design of the targeting framework, and the other adds policy flexibility.