E5 - Monetary Policy, Central Banking, and the Supply of Money and Credit

• Un examen de la crédibilité de la politique monétaire au Canada

  Staff Working Paper 1998-12 Patrick Perrier

  In this study, the author uses survey data on inflationary expectations to obtain information about the credibility of Canada's monetary policy. By comparing the differences between the forecasts made by survey participants with the targets set by the Bank of Canada for the 1992-1996 period (the period covered by the study), it was possible to […]

  Content Type(s): Staff research, Staff working papers Topic(s): Inflation targets JEL Code(s): E, E5, E52

• Liquidity Effects and Market Frictions

  Staff Working Paper 1998-11 Scott Hendry, Guang-Jia Zhang

  The goal of this paper is to shed light on the nature of the monetary transmission mechanism. Specifically, we attempt to tackle two problems in standard limited-participation models: (1) the interest rate liquidity effect is not as persistent as in the data; and (2) some nominal variables are unrealistically volatile. To address these problems, we […]

  Content Type(s): Staff research, Staff working papers Topic(s): Monetary policy transmission JEL Code(s): E, E5