00000nam 2200000zi 4500 9.894147 CaOODSP 20221107173643 m o d f cr cn||||||||| 201130t20202020onca ob f000 0 eng d CaOODSP eng rda CaOODSP eng eng fre n-cn--- y1y1 FB3-6/2020-11E-PDF Kryvtsov, Oleksiy, author. Has the inflation process changed? : Selective review of recent research on inflation dynamics / by Oleksiy Kryvtsov and James MacGee. Ottawa, Ontario, Canada : Bank of Canada = Banque du Canada, 2020. ©2020 1 online resource (ii, 20 pages) : colour illustrations. text txt rdacontent computer c rdamedia online resource cr rdacarrier Staff discussion paper = Document d'analyse du personnel, 1914-0568 ; 2020-11 "Last updated: November 27, 2020." Includes bibliographical references. "For most of 2011-19, inflation in Canada and advanced economies registered below inflation targets. This has spurred a debate on whether "lowflation" is a temporary phenomenon or rather a sign of a fundamental change in inflation behaviour—in Canada and globally. So far, we know little. Global factors—changes in the price of oil and shifts in trade due to globalization—can only explain a portion of the fluctuations in domestic inflation. Emerging survey data are showing that inflation expectations of managers and households behave very differently from model expectations based on full information and rational behaviour. Recent surveys using randomized control trials reveal that changes in monetary or fiscal policies may lead to unexpected responses of inflation expectations and firm behaviour. Changes in the markets for consumer goods raise the need for us to rethink the methods for measuring inflation. We discuss the questions that these observations bring up for central bankers"--Abstract, page ii. Includes abstracts in English and French. Inflation (Finance) Inflation (Finance) Canada. Inflation targeting. Inflation targeting Canada. Inflation. Inflation Canada. Ciblage d'inflation. Ciblage d'inflation Canada. Bank of Canada, issuing body. Staff discussion paper (Bank of Canada) 2020-11. (CaOODSP)9.806273 PDF 1.20 MB https://publications.gc.ca/collections/collection_2020/banque-bank-canada/FB3-6-2020-11-eng.pdf