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198
result(s)
Market Structure and Cost Pass-Through in Retail
Staff Working Paper 2013-5
Gee Hee Hong,
Nicholas Li
We examine the extent to which vertical and horizontal market structure can together
explain incomplete retail pass-through.
Content Type(s):
Staff research,
Staff working papers
Topic(s):
Inflation and prices,
Monetary policy transmission
JEL Code(s):
E,
E3,
E30,
E31,
L,
L1,
L11,
L16
The Cyclicality of Sales, Regular and Effective Prices: Business Cycle and Policy Implications
Staff Working Paper 2013-1
Olivier Coibion,
Yuriy Gorodnichenko,
Gee Hee Hong
We study the cyclical properties of sales, regular price changes and average prices paid by consumers (“effective” prices) using data on prices and quantities sold for numerous retailers across many U.S. metropolitan areas.
Content Type(s):
Staff research,
Staff working papers
Topic(s):
Inflation and prices,
Monetary policy framework,
Monetary policy transmission
JEL Code(s):
E,
E3,
E4,
E5
Forecasting Inflation and the Inflation Risk Premiums Using Nominal Yields
Staff Working Paper 2012-37
Bruno Feunou,
Jean-Sébastien Fontaine
We provide a decomposition of nominal yields into real yields, expectations of future inflation and inflation risk premiums when real bonds or inflation swaps are unavailable or unreliable due to their relative illiquidity.
Content Type(s):
Staff research,
Staff working papers
Topic(s):
Asset pricing,
Econometric and statistical methods,
Inflation and prices,
Interest rates
JEL Code(s):
E,
E4,
E43,
E47,
G,
G1,
G12
August 16, 2012
Measurement Bias in the Canadian Consumer Price Index: An Update
The consumer price index (CPI) is the most commonly used measure to track changes in the overall level of prices. Since it departs from a true cost-of-living index, the CPI is subject to four types of measurement bias—commodity substitution, outlet substitution, new goods and quality adjustment. The author updates previous Bank of Canada estimates of measurement bias in the Canadian CPI by examining these four sources of potential bias. He finds the total measurement bias over the 2005–11 period to be about 0.5 percentage point per year, consistent with the Bank’s earlier findings. Slightly more than half of this bias is caused by the fixed nature of the CPI basket of goods and services.
Content Type(s):
Publications,
Bank of Canada Review articles
Topic(s):
Inflation and prices,
Inflation targets
JEL Code(s):
E,
E3,
E31,
E5,
E52
The Sensitivity of Producer Prices to Exchange Rates: Insights from Micro Data
Staff Working Paper 2012-20
Shutao Cao,
Wei Dong,
Ben Tomlin
This paper studies the sensitivity of Canadian producer prices to the Canada-U.S. exchange rate. Using a unique product-level price data set, we estimate and analyze the impact of movements in the exchange rate on both domestic and export producer prices.
Content Type(s):
Staff research,
Staff working papers
Topic(s):
Exchange rates,
Inflation and prices,
Market structure and pricing
JEL Code(s):
E,
E3,
E30,
F,
F3,
F31,
F4,
F41,
L,
L1,
L11
Commodities and Monetary Policy: Implications for Inflation and Price Level Targeting
Staff Working Paper 2012-16
Donald Coletti,
René Lalonde,
Paul Masson,
Dirk Muir,
Stephen Snudden
We examine the relative ability of simple inflation targeting (IT) and price level targeting (PLT) monetary policy rules to minimize both inflation variability and business cycle fluctuations in Canada for shocks that have important consequences for global commodity prices.
Content Type(s):
Staff research,
Staff working papers
Topic(s):
Economic models,
Inflation and prices,
International topics,
Monetary policy framework
JEL Code(s):
E,
E1,
E17,
E3,
E31,
E37,
E5,
E52,
F,
F4,
F41,
Q,
Q4,
Q43
Money and Price Posting under Private Information
Staff Working Paper 2011-22
Mei Dong,
Janet Hua Jiang
We study price posting with undirected search in a search-theoretic monetary model with divisible money and divisible goods. Ex ante homogeneous buyers experience match specific preference shocks in bilateral trades. The shocks follow a continuous distribution and the realization of the shocks is private information.
Content Type(s):
Staff research,
Staff working papers
Topic(s):
Economic models,
Inflation and prices
JEL Code(s):
D,
D8,
D82,
D83,
E,
E3,
E31
The Behaviour of Consumer Prices Across Provinces
Staff Discussion Paper 2011-2
Gordon Wilkinson
Measures of core inflation enable a central bank to distinguish price movements that are transitory and generated by non-monetary events from those that are more permanent and related to prior monetary policy decisions.
Content Type(s):
Staff research,
Staff discussion papers
Topic(s):
Inflation and prices
JEL Code(s):
E,
E3,
E31
Semi-Structural Models for Inflation Forecasting
Staff Working Paper 2010-34
Maral Kichian,
Rumler Fabio,
Paul Corrigan
We propose alternative single-equation semi-structural models for forecasting inflation in Canada, whereby structural New Keynesian models are combined with time-series features in the data. Several marginal cost measures are used, including one that in addition to unit labour cost also integrates relative price shocks known to play an important role in open-economies.
Content Type(s):
Staff research,
Staff working papers
Topic(s):
Econometric and statistical methods,
Inflation and prices
JEL Code(s):
C,
C1,
C13,
C5,
C53,
E,
E3,
E31