Cover; Financial Stability and Interest-Rate Policy: A Quantitative Assessment of Costs and Benefits; Abstract; 1 Introduction; 2 Predicting Financial Crises; 3 The Effectiveness of the Interest Rate as a Policy Instrument; 4 Evaluating the Policy Tradeoffs; 5 Conclusion; References; 6 Appendix
Summary
Should monetary policy use its short-term policy rate to stabilize the growth in household credit and housing prices with the aim of promoting financial stability? We ask this question for the case of Canada. We find that to a first approximation, the answer is no-- especially when the economy is slowing down.--Abstract
Notes
"March 2016."
At head of title: "Western Hemisphere Department."
Bibliography
Includes bibliographical references (pages 17-19)
Notes
Online resource; title from pdf title page (IMF.org Web site, viewed March 22, 2016)
