Seminar Summary: Price Stability and the Long-Run Target for Monetary Policy

Allan Crawford
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Allan Crawford: Bank of Canada, https://www.bankofcanada.ca/

Bank of Canada Review, 2000, vol. 2000, issue Autumn, 33-41

Abstract: On 8 and 9 June 2000, the Bank held a seminar to examine some key issues affecting the upcoming decision on Canada's inflation-control target for the period after 2001. The main issues covered at the seminar were the extent of downward nominal-wage rigidity and its implications for employment as well as the relative merits of price-level targeting versus inflation targeting. Another critical question that was discussed was how to balance the evidence on all the relevant issues in order to develop an overall view on the appropriate long-run target. The author gives a brief overview of the seminar followed by detailed summaries of individual papers.

Date: 2000
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