Staff discussion papers

• Has the Inflation Process Changed? Selective Review of Recent Research on Inflation Dynamics

  Staff Discussion Paper 2020-11 Oleksiy Kryvtsov, James (Jim) C. MacGee

  From 2011 to 2019, inflation in Canada and advanced economies usually registered below inflation targets, spurring the debate on whether the inflation process has changed. This paper highlights emerging questions that will influence the conduct of monetary policy in Canada in the near term.

  Content Type(s): Staff research, Staff discussion papers Topic(s): Central bank research, Inflation and prices, Monetary policy JEL Code(s): E, E3, E31, E5, E52

• Assessing Global Potential Output Growth: October 2020

  Staff Discussion Paper 2020-10 Xin Scott Chen, Ali Jaffery, Guillaume Nolin, Karim Salhab, Peter Shannon, Subrata Sarker

  This paper presents updated estimates of potential output growth for the global economy through 2022. Global potential output growth is expected to decline sharply in the aftermath of the COVID-19 pandemic and recover partially by the end of the projection horizon of the October 2020 Monetary Policy Report.

  Content Type(s): Staff research, Staff discussion papers Topic(s): Potential output, Productivity JEL Code(s): E, E1, E10, E2, E20, O, O4