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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- 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.
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- Vestin, David, 2006. "Price-level versus inflation targeting," Journal of Monetary Economics, Elsevier, vol. 53(7), pages 1361-1376, October.
- Marc Giannoni & Jean Boivin, 2008. "Optimal Monetary Policy in a Data-Rich Environment," 2008 Meeting Papers 788, Society for Economic Dynamics.
- Steve Ambler, 2009.
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- Steve Ambler, 2007. "Price-Level Targeting and Stabilization Policy: A Review," Discussion Papers 07-11, Bank of Canada.
- Donald Coletti & René Lalonde & Dirk Muir, 2008. "Inflation Targeting and Price-Level-Path Targeting in the GEM: Some Open Economy Considerations," Working Papers 08-6, Bank of Canada.
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