Inflation and prices - Bank of Canada
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Bank of Canada RSS Feedsen2024-03-29T09:52:35+00:00A Survey of the Price-Setting Behaviour of Canadian Companies
https://www.bankofcanada.ca/wp-content/uploads/2010/06/kwan.pdf
To better understand price-setting behaviour in the Canadian economy, the Bank of Canada's regional offices surveyed a representative sample of 170 firms between July 2002 and March 2003. The authors discuss the reasons behind the survey, the methodology used to develop the questionnaire and conduct the interviews, and summarize the results. The study also assessed several explanations for holding prices steady despite market pressures for a change. The survey findings indicate that prices in Canada are relatively flexible and have become more flexible over the past decade. Price stickiness was generally found to originate in firms' fears of antagonizing customers or disturbing the goodwill or reputation developed with them. A detailed discussion of the results includes a consideration of their implications for monetary policy.2004-12-23T07:14:43+00:00enA Survey of the Price-Setting Behaviour of Canadian Companies2004-12-23Real Return Bonds: Monetary Policy Credibility and Short-Term Inflation Forecasting
https://www.bankofcanada.ca/wp-content/uploads/2010/06/reid1.pdf
The break-even inflation rate (BEIR) is calculated by comparing the yields on conventional and Real Return Bonds. Defined as the average rate of inflation that equates the expected returns on these two bonds, the BEIR has the potential to contain useful information about long-run inflation expectations. Yet the BEIR has been higher, on average, and more variable than survey measures of inflation expectations, which may be explained by the effects of premiums and distortions embedded in the BEIR. Because of the difficulty in accounting for these distortions, the BEIR should not be given a large weight as a measure of long-run inflation expectations at this time. However, as the Real Return Bond market continues to develop, the BEIR should become a more useful indicator of inflation expectations. At present, it demonstrates no clear advantage over survey measures and even past inflation rates in forecasting near-term inflation.2004-11-23T14:25:45+00:00enReal Return Bonds: Monetary Policy Credibility and Short-Term Inflation Forecasting2004-11-23Real Return Bonds, Inflation Expectations, and the Break-Even Inflation Rate
https://www.bankofcanada.ca/2004/11/working-paper-2004-43/
According to the Fisher hypothesis, the gap between Canadian nominal and Real Return Bond yields (or break-even inflation rate) should be a good measure of inflation expectations.2004-11-01T16:59:13+00:00enReal Return Bonds, Inflation Expectations, and the Break-Even Inflation Rate2004-11-01Inflation and pricesInterest ratesMarket structure and pricingWorking Paper 2004-43 https://www.bankofcanada.ca/wp-content/uploads/2010/02/wp04-43.pdfReal Return Bonds, Inflation Expectations, and the Break-Even Inflation RateIan ChristensenChristopher ReidFrédéric DionNovember 2004EE3E31E4E43The U.S. New Keynesian Phillips Curve: An Empirical Assessment
https://www.bankofcanada.ca/2004/09/working-paper-2004-35/
The authors examine the evidence presented by Galí and Gertler (1999) and Galí, Gertler, and Lopez-Salido (2001, 2003) that the inflation dynamics in the United States can be well-described by the New Keynesian Phillips curve (NKPC).2004-09-01T15:13:48+00:00enThe U.S. New Keynesian Phillips Curve: An Empirical Assessment2004-09-01Econometric and statistical methodsInflation and pricesWorking Paper 2004-35 https://www.bankofcanada.ca/wp-content/uploads/2010/02/wp04-35.pdfThe U.S. New Keynesian Phillips Curve: An Empirical AssessmentAlain GuayFlorian PelgrinSeptember 2004CC1C13C5C52EE3E31The New Keynesian Hybrid Phillips Curve: An Assessment of Competing Specifications for the United States
https://www.bankofcanada.ca/2004/08/working-paper-2004-31/
Inflation forecasting is fundamental to monetary policy. In practice, however, economists are faced with competing goals: accuracy and theoretical consistency.2004-08-01T13:16:52+00:00enThe New Keynesian Hybrid Phillips Curve: An Assessment of Competing Specifications for the United States2004-08-01Economic modelsInflation and pricesWorking Paper 2004-31 https://www.bankofcanada.ca/wp-content/uploads/2010/02/wp04-31.pdfThe New Keynesian Hybrid Phillips Curve: An Assessment of Competing Specifications for the United StatesDavid DupuisAugust 2004EE3E31Exchange Rate Pass-Through and the Inflation Environment in Industrialized Countries: An Empirical Investigation
https://www.bankofcanada.ca/2004/06/working-paper-2004-21/
This paper investigates the question of whether a transition to a low-inflation environment, induced by a shift in monetary policy, results in a decline in the degree of pass-through of exchange rate movements to consumer prices.2004-06-01T14:48:59+00:00enExchange Rate Pass-Through and the Inflation Environment in Industrialized Countries: An Empirical Investigation2004-06-01Exchange ratesInflation and pricesInternational topicsWorking Paper 2004-21 https://www.bankofcanada.ca/wp-content/uploads/2010/02/wp04-21.pdfExchange Rate Pass-Through and the Inflation Environment in Industrialized Countries: An Empirical InvestigationJeannine BailliuEiji FujiiJune 2004EE3E31E4E42FF3F31Exchange Rate Pass-Through in Industrialized Countries
https://www.bankofcanada.ca/wp-content/uploads/2010/06/bailliue.pdf
Economists' long-standing interest in the degree to which exchange rate movements are reflected in prices was rekindled in the 1970s by a combination of rising inflation and the adoption of more flexible exchange rate regimes in many industrialized countries. Specifically, there were concerns that a large currency depreciation could degenerate into an inflationary spiral. Such fears were curtailed in the 1980s and early 1990s as industrialized countries began to reduce and stabilize their inflation rates. The low-inflation period most industrialized countries entered approximately a decade ago coincided with significant exchange rate depreciations that had much smaller effects on consumer prices than expected. This led to a belief that the extent to which exchange rate movements are passed through to consumer prices has declined. In this article, the authors examine why pass-through could be incomplete and review empirical estimates to determine whether pass-through has indeed declined, suggesting possible reasons for this decline and discussing the implications for monetary policy.2004-05-22T13:34:08+00:00enExchange Rate Pass-Through in Industrialized Countries2004-05-22Estimating New Keynesian Phillips Curves Using Exact Methods
https://www.bankofcanada.ca/2004/04/working-paper-2004-11/
The authors use simple new finite-sample methods to test the empirical relevance of the New Keynesian Phillips curve (NKPC) equation.2004-04-01T11:59:06+00:00enEstimating New Keynesian Phillips Curves Using Exact Methods2004-04-01Econometric and statistical methodsInflation and pricesWorking Paper 2004-11 https://www.bankofcanada.ca/wp-content/uploads/2010/02/wp04-11.pdfEstimating New Keynesian Phillips Curves Using Exact MethodsLynda KhalafMaral KichianApril 2004CC1C13C5C52EE3E31A Structural Small Open-Economy Model for Canada
https://www.bankofcanada.ca/2004/02/working-paper-2004-4/
The authors develop a small open-economy dynamic stochastic general-equilibrium (DSGE) model in an attempt to understand the dynamic relationships in Canadian macroeconomic data.2004-02-01T11:06:35+00:00enA Structural Small Open-Economy Model for Canada2004-02-01Business fluctuations and cyclesEconomic modelsInflation and pricesWorking Paper 2004-4 https://www.bankofcanada.ca/wp-content/uploads/2010/02/wp04-4.pdfA Structural Small Open-Economy Model for CanadaStephen MurchisonAndrew RennisonZhenhua ZhuFebruary 2004EE2E3E5E52