00000cam 2200000zi 4500 9.958835 CaOODSP 20260109104533 m o d f cr cn||||||||| 260109e20251219oncad ob f000 0 eng d CaOODSP eng rda CaOODSP eng eng fre FB3-5/2025-37E-PDF Schneider, Jan David, author. The sectoral origins of post-pandemic inflation / Jan David Schneider. [Ottawa] : Bank of Canada = Banque du Canada, December 19, 2025. ©2025 1 online resource (ii, 45 pages) : illustrations, graphs. text txt rdacontent computer c rdamedia online resource cr rdacarrier Staff working paper = Document de travail du personnel, 1701-9397 ; 2025-37 Cover title. Includes bibliographical references (pages 37-40). "This paper quantifies the contribution of sector-specific supply and demand shocks to personal consumption expenditure (PCE) inflation. It derives identification restrictions that are consistent with a large class of dynamic stochastic general equilibrium models with production networks. It then imposes these restrictions in structural factor augmented vector autoregressive models with sectoral data on PCE inflation and consumption growth. The identification scheme allows the study to remain agnostic on theoretical modeling assumptions yet still gain structural empirical results: sectoral shocks cannot explain the initial inflation increases that followed the COVID-19 pandemic. This changed from the end of 2021 onwards when shocks originating in non-services sectors became a major source of the post-pandemic inflation surge"--Abstract, page ii. Includes abstracts in English and French. Inflation (Finance) Econometric models. Consumption (Economics) Econometric models. COVID-19 Pandemic, 2020-2023 Econometric models. Inflation Modèles économétriques. Consommation (Économie politique) Modèles économétriques. Pandémie de COVID-19, 2020-2023 Modèles économétriques. Bank of Canada, issuing body. Staff working paper (Bank of Canada) 1701-9397 ; 2025-37. (CaOODSP)9.806221 PDF 3.88 MB https://publications.gc.ca/collections/collection_2026/banque-bank-canada/FB3-5-2025-37-eng.pdf