Racette, Daniel; Raynauld, Jacques - In: L'Actualité Economique 67 (1991) 3, pp. 381-399
Starting in 1988, the Bank of Canada has adopted price stability as its sole long-run objective. In this paper, we critically assess the policy actions effectively undertaken in light of this objective. Instead of using the so-called monetary conditions (interest rates and the exchange rate), we...