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Essay / Research Paper Abstract
This 10 page paper evaluates Canadian monetary policy. Monetary policy is described and defined and theory is disused as well. Canadian monetary policy is included specifically and then attention is turned to the years 1997 through 2003. Up to date information is included in this paper that provides a substantial overview of what Canada does as far as its money is concerned. Bibliography lists 9 sources.
Page Count:
10 pages (~225 words per page)
File: RT13_SA348Can.rtf
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Unformatted sample text from the term paper:
monetary policy can seemingly propel an economy to success during a lagging economic turn. This is true even when the macro economy is experiencing problems and regional factors are in
play. In respect to monetary policy, a government is reliant on specific internal institutions. In Canada, there are specific protocols. The Bank of Canada for example must evaluate a variety
of sources of uncertainty as it decides which direction that monetary policy should take (Cote, Lam, Liu & St.-Amant, 2002). One method of considering factors that are not certain,
and to mitigate its impact, is for the incorporation of projections from several models (2002). Essentially, more than one way of projecting information is reasonable. Another approach that has been
proposed by several authors is to use something called the simple rule or "simple monetary policy" where several rules yield good results in the context of a number of models
(2002). A simple rule is actually something that permits monetary authority to provide a level for short-term interest rates and this becomes a function of just a few
variables (Cote, Lam, Liu & St.-Amant, 2002). It is something that has been seen as a point in time where monetary policy is set (2002). Complex rules generally incorporate a
greater number of variables (2002). A simple rule may be considered to be robust if it creates good results in a great number of models (2002). In viewing Canadian
Monetary policy between the years 1997 and 2003, it pays first to look at theory and then at Canadian policy in general, its nuances and peculiarities, and why it maintains
certain goals and tends to do certain things. II. Monetary Policy Theory Keynes was an English economist and rejected the larger part of neoclassical economics (McLeish, 1993).
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