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322 Results

Household Food Inflation in Canada

Staff Working Paper 2024-33 Olena Kostyshyna, Maude Ouellet
We study food inflation rates for Canadian households during periods of low and high inflation from 2012Q4 to 2023Q4. Households experienced more varied inflation rates during the recent high inflation. Cumulative food inflation has been 2.2 percentage points higher for lower-income households than for highest-income households since the inflation surge.
Content Type(s): Staff research, Staff working papers Topic(s): Inflation and prices JEL Code(s): E, E2, E21, E3, E30, E31, L, L8, L81

Price Discounts and Cheapflation During the Post-Pandemic Inflation Surge

Staff Working Paper 2024-31 Alberto Cavallo, Oleksiy Kryvtsov
We study how price variation within a store changes with inflation, and whether households exploit these changes to reduce the burden of inflation. We find that price changes from discounts mitigated the inflation burden while cheapflation exacerbated it.

The Output-Inflation Trade-off in Canada

We explain how the Bank of Canada’s policy models capture the trade-off between output and inflation in Canada. We provide new estimates of the trade-off and contrast them with those in the Bank’s macroeconomic models.
June 13, 2024

Reviewing our pandemic actions

Speech summary Sharon Kozicki Canadian Association for Business Economics Ottawa, Ontario
Deputy Governor Sharon Kozicki talks about the importance of central bank transparency and accountability. She looks at the exceptional monetary policy measures the Bank of Canada used during the COVID-19 pandemic and analyzes their effectiveness.
June 13, 2024

Exceptional policies for an exceptional time: From quantitative easing to quantitative tightening

Remarks Sharon Kozicki Canadian Association of Business Economics Ottawa, Ontario
Deputy Governor Sharon Kozicki discusses the use of exceptional monetary policy tools during the COVID-19 pandemic, as well as the Bank’s commitment to transparency and accountability.

Sources of pandemic-era inflation in Canada: an application of the Bernanke and Blanchard model

Staff Analytical Note 2024-13 Fares Bounajm, Jean Garry Junior Roc, Yang Zhang
We explore the drivers of the surge in inflation in Canada during the COVID-19 pandemic. This work is part of a joint effort by 11 central banks using the model developed by Bernanke and Blanchard (2023) to identify similarities and differences across economies.

Assessing the Impact of the Bank of Canada’s Government Bond Purchases

Staff Discussion Paper 2024-5 Chinara Azizova, Jonathan Witmer, Xu Zhang
In March 2020, the Bank of Canada implemented the Government of Canada Bond Purchase Program, eventually purchasing approximately $340 billion of government bonds. In this paper, we analyze the impact of this program on financial market prices and yields as well as on GDP and inflation.
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