Monetary Policy and the Economic Well-being of Canadians

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Monetary Policy and the Economic Well-being of Canadians

In: The Review of Economic Performance and Social Progress 2001: The Longest Decade: Canada in the 1990s

Author Info

Paul Jenkins (Deputy Governor of the Bank of Canada)
Brian O'Reilly (Deputy Chief, Research Department of the Bank of Canada)

Abstract

In this chapter, Paul Jenkins and Brian O'Reilly survey the monetary policy developments in the 1990s, focusing on links between monetary policy and the economic well-being of Canadians. The Bank of Canada economists do admit that tight monetary policy in the early 1990s hurt growth in the short-term, but they argue that such action was necessary to ratchet down entrenched inflationary expectations. Moreover, they argue that stagnation in the early part of the decade was not simply the result of monetary policy, but also reflected a weak US economy and structural problems in the Canadian economy.

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This chapter was published in: Andrew Sharpe, Executive Director & France St-Hilaire, Vice-President , Research & Keith Banting, Director (ed.) The Review of Economic Performance and Social Progress 2001: The Longest Decade: Canada in the 1990s, Centre for the Study of Living Standards, 2001.

This item is provided by Centre for the Study of Living Standards & The Institutute for Research on Public Policy in its series The Review of Economic Performance and Social Progress with number v:1:y:2001:pjbo.

Handle: RePEc:sls:repsls:v:1:y:2001:pjbo

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Keywords: Monetary Policy Inflation Inflation Reduction Inflation Policy Growth Recession Well-being Wellbeing Well Being Canada

Find related papers by JEL classification:
E52 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Monetary Policy
E63 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Comparative or Joint Analysis of Fiscal and Monetary Policy; Stabilization
E31 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Price Level; Inflation; Deflation
O51 - Economic Development, Technological Change, and Growth - - Economywide Country Studies - - - U.S.; Canada
O40 - Economic Development, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - General

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