Monetary Policy Implementation

Some Facts and a Monetary Myth

Oct 1, 2013


This seminar will explore the operational dynamics and policy mechanisms of contemporary monetary policy. Questions to be addressed include:

What tools do central banks employ to achieve monetary policy objectives, and in particular, interest rate target?

What are the theoretical implications of recent technological and policy innovations in monetary policy?

How has monetary policy influenced, and been influenced by, other macroeconomic operations such as fiscal policy?


Donna Howard
Adviser to the Governor
Bank of Canada
Marc Lavoie
Professor of Economics
University of Ottawa
Eric Tymoigne
Assistant Professor of Economics
Lewis and Clark College
Nathan C. Tankus
Research Director
Modern Money Network

Core Readings

The Implementation Of Monetary Policy In Canada

Engert, Walter, Toni Gravelle, and Donna Howard. “The Implementation of Monetary Policy in Canada.” (2008).


Changes In Central Bank Procedures During The Subprime Crisis And Their Repercussions On Monetary Theory

Lavoie, Marc. “Changes in Central Bank Procedures During the Subprime Crisis and Their Repercussions on Monetary Theory.” (2010).


Modern Money Theory, And Interrelations Between Treasury And The Central Bank: The Case Of The United States

Tymoigne, Eric. “Modern Money Theory, and Interrelations Between Treasury and the Central Bank: The Case of the United States.” (2013).