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Recent Developments in Experimental Macroeconomics

Robert Amano, Oleksiy Kryvtsov () and Luba Petersen ()

Bank of Canada Review, 2014, vol. 2014, issue Autumn, 1-11

Abstract: This article describes experimental economics, in general, and new developments in experimental macroeconomics, in particular. The approach has a clear niche in providing evidence on economic phenomena that cannot be observed directly or that are difficult to measure. Experimental work conducted by Bank of Canada economists has shed light on a number of issues important to monetary policy, such as the relative efficacy between price-level and inflation targeting, and the nature of inflation expectations formation.

Date: 2014
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