The Role of Central Banks
Bibliographic Data
| ID | 11969385 |
|---|---|
| Authors | Stephen D Williamson (0009-0007-4677-1803, Western University, corresponding author) |
| Year | 2020 |
| Volume | 46 |
| Issue | 2 |
| Pages | 198-213 |
| Publication date | 2020-05-13 |
| Open Access | No |
| Type | ARTICLE |
| Venue | Canadian Public Policy (JOURNAL) |
| Journal identifiers | ISSN: 0317-0861 • E-ISSN: 1911-9917 |
| Publisher | University of Toronto Press Inc. (UTPress) (PUBLISHER) |
| DOI | 10.3138/cpp.2019-058 |
| OpenAlex | W3025798615 |
| Language | EN |
| Citations received | 2 |
| References cited | 17 |
The origins of central banking, in general, are examined, along with the specific origins of the Bank of Canada. A general policy framework is set out, in terms of goals, policy rules, and implementation, and the Bank of Canada’s inflation targeting framework is evaluated. Alternatives to inflation targeting are considered, including price-level targeting, inflation averaging, nominal gross domestic product targeting, and a dual mandate. Monetary policy issues associated with persistent low real interest rates are discussed. The conclusion is that inflation targeting has been a success in Canada, and there are no obviously superior alternative approaches
Central bank · Dual (grammatical number · Economics · Inflation (cosmology · Inflation targeting · Interest rate · Macroeconomics · Mandate · Monetary economics · Monetary policy · Political science · Product (mathematics · Real interest rate · Economic Theory and Policy · Global Financial Crisis and Policies · Monetary Policy and Economic Impact
| Citations per year | 1 |
|---|---|
| Citation span | 2024 - 2026 (3) |
| Highly cited | No |