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Conference Summary: New Frontiers in Monetary Policy Design

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Although the current inflation-targeting regime has served Canadians well, sound public policy demands the continuous exploration of possible improvements in the monetary policy framework. At the Bank of Canada's 2009 conference, distinguished scholars from academic institutions and monetary authorities around the world discussed two central questions regarding the design of monetary policy: (i) Would an inflation target lower than 2 per cent lead to better economic outcomes? And (ii) What are the costs and benefits of price-level targeting relative to inflation targeting? The conference agenda included work that shed new light on these two questions. Other work explored the causes of zero-bound episodes and the efficacy of potential policies.

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  • Robert Amano & Kevin Devereux & Rhys R. Mendes, 2010. "Conference Summary: New Frontiers in Monetary Policy Design," Bank of Canada Review, Bank of Canada, vol. 2010(Summer), pages 37-43.
    • Handle: RePEc:bca:bcarev:v:2010:y:2010:i:summer10:p:37-43
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    1. Kozicki, Sharon, 2012. "Macro has progressed," Journal of Macroeconomics, Elsevier, vol. 34(1), pages 23-28.

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