Neuenkirch, Matthias; Siklos, Pierre L. - Fach Volkswirtschaftslehre, Universität Trier - 2014
We examine the record of the CD Howe’s shadow Monetary Policy Council (SMPC) in Canada. We report a considerable diversity of opinion about the recommended future path of interest rates inside the SMPC. During the period of Bank of Canada forward guidance, market determined forward rates...