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Constraints on the Conduct of Canadian Monetary Policy in 1990s: Dealing with Uncertainty in Financial Markets

Kevin Clinton and Mark Zelmer

Technical Reports from Bank of Canada

Abstract: This report presents a simple theorretical model that shows the quantitative impact of the increased interest rate premiums on economic performance. Some evidence is presented that suggests high Canadian interest rate premiums were an important factor explaining the general weakness of economic activity.

Keywords: MONETARY POLICY; FINANCIAL MARKET (search for similar items in EconPapers)
JEL-codes: E50 E58 (search for similar items in EconPapers)
Pages: 55 pages
Date: 1997
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