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Recent Canadian Monetary Policy: 1975-81, Reflections of a Monetary Gradualist

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  • Thomas J. Courchene

Abstract

This paper focuses on the theory and practice of Canadian monetary policy over 1975-81. The first section deals with the period prior to the advent of monetary gradualism. The question is whether or not the move to restraint in 1975 was warranted. The paper argues it was. The second section evaluates Bank of Canada policy over 1975-80. Finally, policy in 1981 is analyzed, where the Bank jettisoned monetary gradualism in favour of achieving an exchange rate goal.

Suggested Citation

  • Thomas J. Courchene, 1982. "Recent Canadian Monetary Policy: 1975-81, Reflections of a Monetary Gradualist," Working Paper 505, Economics Department, Queen's University.
    • Handle: RePEc:qed:wpaper:505
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    Cited by:

    1. H. Sonmez Atesoglu & John Smithin, 2008. "Canadian monetary policy and the US federal funds rate," Applied Economics Letters, Taylor & Francis Journals, vol. 15(11), pages 899-904.

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