Kitov, Oleg; Kitov, Ivan - Volkswirtschaftliche Fakultät, … - 2011
The Lucas critique has exposed the problem of the trade-off between changes in monetary policy and structural breaks in … introduction of inflation targeting as a new monetary policy in 1991 resulted in a structural break manifested in a lowered rate of … price inflation accompanied by a substantial fall in the rate of unemployment. Therefore, the new monetary policy in Canada …