Change theme
Change theme

Search

Content Types

Topics

JEL Codes

Locations

Departments

Authors

Sources

Statuses

Published After

Published Before

160 Results

How Do Agents Form Macroeconomic Expectations? Evidence from Inflation Uncertainty

Staff Working Paper 2024-5 Tao Wang
The uncertainty regarding inflation that is observed in density forecasts of households and professionals helps macroeconomists understand the formation mechanism of inflation expectations. Shocks to inflation take time to be perceived by all agents in the economy, and such rigidity is lower in a high-inflation environment.

Assessing the effects of higher immigration on the Canadian economy and inflation

We assess the complex macroeconomic implications of Canada’s recent population increases. We find that newcomers significantly boost the non-inflationary, potential growth of the economy, but existing imbalances in the housing sector may be exacerbated. Greater housing supply is needed to complement the long-term economic benefits of population growth.

Digitalization: Implications for Monetary Policy

We explore the implications of digitalization for monetary policy, both in terms of how monetary policy affects the economy and in terms of data analysis and communication with the public.

The contribution of firm profits to the recent rise in inflation

Staff Analytical Note 2023-12 Panagiotis Bouras, Christian Bustamante, Xing Guo, Jacob Short
We measure the contribution to inflation from the growth in markups of Canadian firms. The dynamics of inflation and markups suggest that changes in markups could account for less than one-tenth of inflation in 2021. Further, they suggest that peak inflation was driven primarily by changes in the costs of firms.

Why Consumers Disagree About Future Inflation

Staff Discussion Paper 2023-11 Naveen Rai, Patrick Sabourin
Since 2022, consumer inflation expectations have shifted, with a significant increase in those expecting high inflation in the coming year and a surge in those expecting deflation further in the future. Using data from the Canadian Survey of Consumer Expectations, this paper seeks to assess the factors that influence people to expect high inflation, moderate inflation or deflation.
Content Type(s): Staff research, Staff discussion papers Topic(s): Inflation and prices JEL Code(s): C, C8, C83, D, D8, D84, E, E3, E31

What Consistent Responses on Future Inflation by Consumers Can Reveal

Staff Discussion Paper 2023-7 Sarah Miller, Patrick Sabourin
We analyze factors that may explain consistent answers to questions about inflation expectations in the Canadian Survey of Consumer Expectations. We also compare the inflation forecasts of consumers with consistent responses with those of professional forecasters.

Supply Drivers of US Inflation Since the COVID-19 Pandemic

Staff Working Paper 2023-19 Serdar Kabaca, Kerem Tuzcuoglu
This paper examines the contribution of several supply factors to US headline inflation since the start of the COVID-19 pandemic. We identify six supply shocks using a structural VAR model: labor supply, labor productivity, global supply chain, oil price, price mark-up and wage mark-up shocks.

Firms’ inflation expectations and price-setting behaviour in Canada: Evidence from a business survey

Staff Analytical Note 2023-3 Ramisha Asghar, James Fudurich, Jane Voll
Canadian firms’ expectations for high inflation may be influencing their price setting, supporting strong price growth and delays in the transmission of monetary policy. Using data from the Business Outlook Survey, we investigate the reasons behind widespread price growth seen in Canada in 2021 and early 2022.
Go To Page