Monetary Policy

vnguyen29
Mind Map by , created over 5 years ago

ECON 318 Mind Map on Monetary Policy, created by vnguyen29 on 02/18/2014.

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vnguyen29
Created by vnguyen29 over 5 years ago
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Monetary Policy
1 Goal of inflation
1.1 Low
1.2 Stable
1.3 Predictable
2 Costs to have high inflation
2.1 Reduce purchasing power of $
2.2 Neg.affect ppl w/ fixed income
2.3 Creates uncertainty (risk)
2.4 Increase capital assets
3 Features of inflation control target policy
3.1 Forward-looking
3.2 Symmetry
3.3 Flexible
3.3.1 Recognition lag

Annotations:

  • Time to realize and recognize there is a problem
3.3.2 Decision lag

Annotations:

  • Takes time to make a decision on which policy to implement
3.3.3 Implementation lag

Annotations:

  • Takes time to implement that decision
4 What determines the exchange rate?
4.1 World prices for commodities?
4.2 Economic performance relative to other countries
4.3 Relative inflation rates
4.4 Relative inflation rate
4.5 Canada's productivity record
4.6 Trade and current balances
4.7 Public debt
4.8 S-T capital flows

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