Inflation targets versus international monetary integration: a Canadian perspective
AbstractThe debate about Canadian-U.S. monetary integration is surveyed. The choice is among overall monetary orders,rather than exchange rate regimes and questions of policy credibility and political accountability are crucial. Canadaâs recent economic performance under inflation targets, and arguments that the flexible exchange rate has undermined real economic performance are assessed. The most economically attractive among alternative monetary orders, the adoption by Canada of the US dollar with provision for meaningful Canadian input into policy decisions and supervision of the financial system - is not politically attainable. Intermediate arrangements are unattractive and clearly inferior to Canadaâs current monetary order.
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Bibliographic InfoArticle provided by Elsevier in its journal Structural Change and Economic Dynamics.
Volume (Year): 16 (2005)
Issue (Month): 1 (March)
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Web page: http://www.elsevier.com/locate/inca/525148
Other versions of this item:
- David Laidler, 2002. "Inflation Targets Versus International Monetary Integration: A Canadian Perspective," University of Western Ontario, Economic Policy Research Institute Working Papers 20023, University of Western Ontario, Economic Policy Research Institute.
- David Laidler, 2002. "Inflation Targets Versus International Monetary Integration - A Canadian Perspective," CESifo Working Paper Series 773, CESifo Group Munich.
- E42 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Monetary Sytsems; Standards; Regimes; Government and the Monetary System
- E52 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Monetary Policy
- E58 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Central Banks and Their Policies
- F33 - International Economics - - International Finance - - - International Monetary Arrangements and Institutions
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