December 10, 2007
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198
result(s)
October 14, 2007
The Effect of China on Global Prices
The dramatic growth in China's exports of consumer goods such as clothing, toys, and electronics, and imports of primary commodities such as oil and metals is having major effects on global supply and demand. In examining China's role in global relative price changes, Francis finds that downward pressure on the relative prices of consumer goods is likely to persist as China's large labour supply continues its migration into manufacturing. Likewise, China's size and growth will also remain key drivers of global commodities demand for some time. Despite these forces, inflation-targeting central banks have the tools to keep inflation close to target, thus offsetting any persistent upward or downward inflationary pressure.
Content Type(s):
Publications,
Bank of Canada Review articles
Topic(s):
Inflation and prices,
International topics,
Recent economic and financial developments
The Direct Effect of China on Canadian Consumer Prices: An Empirical Assessment
Staff Discussion Paper 2007-10
Louis Morel
The author investigates the direct effect of Chinese imported goods on consumer prices in Canada. On average, over the 2001–06 period, the direct effect of consumer goods imported from China is estimated to have reduced the inflation rate by about 0.1 percentage points per year. This disinflationary effect is due to two causes: first, the […]
Content Type(s):
Staff research,
Staff discussion papers
Topic(s):
Inflation and prices
JEL Code(s):
E,
E3,
E31
Gold Prices and Inflation
Staff Working Paper 2007-35
Greg Tkacz
Using data for 14 countries over the 1994 to 2005 period, we assess the leading indicator properties of gold at horizons ranging from 6 to 24 months.
Content Type(s):
Staff research,
Staff working papers
Topic(s):
Exchange rates,
Inflation and prices
JEL Code(s):
E,
E3,
E31,
E4,
E44
Oil Price Movements and the Global Economy: A Model-Based Assessment
Staff Working Paper 2007-34
Selim Elekdag,
René Lalonde,
Douglas Laxton,
Dirk Muir,
Paolo Pesenti
We develop a five-region version (Canada, an oil exporter, the United States, emerging Asia and Japan plus the euro area) of the Global Economy Model (GEM) encompassing production and trade of crude oil, and use it to study the international transmission mechanism of shocks that drive oil prices.
Content Type(s):
Staff research,
Staff working papers
Topic(s):
Economic models,
Inflation and prices,
International topics
JEL Code(s):
E,
E6,
E66,
F,
F3,
F32,
F4,
F47
Micro Foundations of Price-Setting Behaviour: Evidence from Canadian Firms
Staff Working Paper 2007-31
Daniel de Munnik,
Kuan Xu
How do firms adjust prices in the marketplace? Do they tend to adjust prices infrequently in response to changes in market conditions? If so, why? These remain key questions in macroeconomics, particularly for central banks that work to keep inflation low and stable.
Content Type(s):
Staff research,
Staff working papers
Topic(s):
Inflation and prices,
Monetary policy transmission
JEL Code(s):
D,
D4,
D40,
E,
E3,
E30,
L,
L1,
L11
Does Indexation Bias the Estimated Frequency of Price Adjustment?
Staff Working Paper 2007-15
Maral Kichian,
Oleksiy Kryvtsov
We assess the implications of price indexation for estimated frequency of price adjustment in sticky price models of business cycles. These models predominantly assume that non-reoptimized prices are indexed to lagged or average inflation.
Content Type(s):
Staff research,
Staff working papers
Topic(s):
Econometric and statistical methods,
Economic models,
Inflation and prices
JEL Code(s):
E,
E3,
E31,
E37
Survey-Based Estimates of the Term Structure of Expected U.S. Inflation
Staff Working Paper 2006-46
Sharon Kozicki,
P. A. Tinsley
Surveys provide direct information on expectations, but only short histories are available at quarterly frequencies or for long-horizon expectations.
Content Type(s):
Staff research,
Staff working papers
Topic(s):
Inflation and prices,
Inflation targets,
Monetary policy and uncertainty
JEL Code(s):
E,
E3,
E5
Survey of Price-Setting Behaviour of Canadian Companies
Staff Working Paper 2006-35
David Amirault,
Carolyn Kwan,
Gordon Wilkinson
In many mainstream macroeconomic models, sticky prices play an important role in explaining the effects of monetary policy on the economy.
Content Type(s):
Staff research,
Staff working papers
Topic(s):
Inflation and prices,
Monetary policy transmission
JEL Code(s):
D,
D4,
D40,
E,
E3,
E30,
L,
L1,
L11
The Macroeconomic Effects of Non-Zero Trend Inflation
Staff Working Paper 2006-34
Robert Amano,
Steve Ambler,
Nooman Rebei
The authors study the macroeconomic effects of non-zero trend inflation in a simple dynamic stochastic general-equilibrium model with sticky prices.
Content Type(s):
Staff research,
Staff working papers
Topic(s):
Business fluctuations and cycles,
Economic models,
Inflation and prices,
Inflation targets
JEL Code(s):
E,
E2,
E24,
E3,
E32