Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen: https://hdl.handle.net/10419/241087 
Erscheinungsjahr: 
2020
Schriftenreihe/Nr.: 
Bank of Canada Staff Discussion Paper No. 2020-11
Verlag: 
Bank of Canada, Ottawa
Zusammenfassung: 
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.
Schlagwörter: 
Central bank research
Inflation and prices
Monetary policy
JEL: 
E31
E52
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Dokumentart: 
Working Paper
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