Getting it Right When You Might Be Wrong: The Choice Between Price-Level and Inflation Targeting
Canada’s 2 percent inflation targeting program works pretty well – but could targeting the price level work even better, especially when inflation and the price level might not be perfectly observed?
Volume (Year): (2009)
Issue (Month): 297 (September)
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References listed on IDEAS
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- Reis, Ricardo & Watson, Mark W., 2007.
"Measuring changes in the value of the numeraire,"
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- Svensson, Lars E O, 1999. "Price-Level Targeting versus Inflation Targeting: A Free Lunch?," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 31(3), pages 277-295, August.
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- Michael Parkin, 2009. "What is the Ideal Monetary Policy Regime? Improving the Bank of Canada's Inflation-targeting Program," C.D. Howe Institute Commentary, C.D. Howe Institute, issue 279, January.
- Marc Giannoni & Jean Boivin, 2008. "Optimal Monetary Policy in a Data-Rich Environment," 2008 Meeting Papers 788, Society for Economic Dynamics.
- Jerry Hausman & Ephraim Leibtag, 2009. "CPI Bias from Supercenters: Does the BLS Know that Wal-Mart Exists?," NBER Chapters,in: Price Index Concepts and Measurement, pages 203-231 National Bureau of Economic Research, Inc.
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- Gregor W. Smith, 2009. "The Missing Links: Better Measures of Inflation and Inflation Expectations in Canada," C.D. Howe Institute Commentary, C.D. Howe Institute, issue 287, April.
- Vestin, David, 2006. "Price-level versus inflation targeting," Journal of Monetary Economics, Elsevier, vol. 53(7), pages 1361-1376, October.
- Donald Coletti & René Lalonde & Dirk Muir, 2008. "Inflation Targeting and Price-Level-Path Targeting in the GEM: Some Open Economy Considerations," Staff Working Papers 08-6, Bank of Canada. Full references (including those not matched with items on IDEAS)
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