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The Bank of Canada began targeting inflation at 2% beginning in 1991. In Figure 3.12, what do you observe about the variability of inflation about
The Bank of Canada began targeting inflation at 2% beginning in 1991. In Figure 3.12, what do you observe about the variability of inflation about trend before 1991, and after 1991? Does this represent a success or failure of the Bank of Canada's inflation targeting policy? Why?
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