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Monetary Policy and Uncertainty

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Author Info
Paul Jenkins (Bank of Canada)
David Longworth (Bank of Canada)

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Abstract

Central banks must cope with considerable uncertainty about what will happen in the economy when formulating monetary policy. This article describes the different types of uncertainty that arise and looks at examples of uncertainty that the Bank has recently encountered. It then reviews the strategies employed by the Bank to deal with this problem. The other articles in this special issue focus on three of these major strategies.

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File URL: http://www.bankofcanada.ca/review/2002/longworth_e.pdf
File Format: application/pdf
File Function: full text
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Publisher Info
Article provided by Bank of Canada in its journal Bank of Canada Review.

Volume (Year): 2002 (2002)
Issue (Month): Summer ()
Pages: 3-10
Download reference. The following formats are available: HTML (with abstract), plain text (with abstract), BibTeX, RIS (EndNote, RefMan, ProCite), ReDIF
Handle: RePEc:bca:bcarev:v:2002:y:2002:i:summer:p:3-10

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Postal: 234 Wellington Street, Ottawa, Ontario, K1A 0G9, Canada
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Web page: http://www.bank-banque-canada.ca/

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Postal: Publications Distribution, Bank of Canada, 234 Wellington Street, Ottawa, Ontario, K1A 0G9, Canada
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Cited by:
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  1. Tiff Macklem, 2005. "Commentary : central bank communication and policy effectiveness," Proceedings, Federal Reserve Bank of Kansas City, issue Aug, pages 475-494. [Downloadable!]
  2. Monica Martin & Cristiano Papile, 2004. "The Bank of Canada's Business Outlook Survey: An Assessment," Working Papers 04-15, Bank of Canada. [Downloadable!]
  3. Carl Walsh, 2004. "Implications of a Changing Economic Structure for the Strategy of Monetary Policy," Santa Cruz Center for International Economics, Working Paper Series 1023, Center for International Economics, UC Santa Cruz. [Downloadable!]
    Other versions:
  4. Arnulfo Rodriguez & Pedro N. Rodriguez, 2006. "Recursive Thick Modeling and the Choice of Monetary Policy in Mexico," Computing in Economics and Finance 2006 30, Society for Computational Economics. [Downloadable!]
  5. David Longworth, 2003. "Implications of a changing economic structure for the strategy of monetary policy : commentary," Proceedings, Federal Reserve Bank of Kansas City, pages 349-360. [Downloadable!]
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This page was last updated on 2009-12-16.

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