Aufsatz(elektronisch)#1Mai 2014
Flexible inflation forecast targeting: Evidence from Canada
In: The Canadian journal of economics: the journal of the Canadian Economics Association = Revue canadienne d'économique, Band 47, Heft 2, S. 398-421
ISSN: 1540-5982
AbstractWe test whether the Bank of Canada pursues a flexible inflation forecast target, one that weights output growth as well as inflation. For the period 1996–2007, we find evidence that the Bank did effectively pursue such a target over the forecast horizon of 12 to 18 months. We find the relative weight that the Bank gives to output growth in its target to be positive and statistically significant within the range of 0.2 to 0.4.