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Sources of pandemic-era inflation in Canada: an application of the Bernanke and Blanchard model

Author

Listed:
  • Fares Bounajm
  • Jean Garry Junior Roc
  • Yang Zhang

Abstract

We explore the drivers of the surge in inflation in Canada during the COVID-19 pandemic. This work is part of a joint effort by 11 central banks using the model developed by Bernanke and Blanchard (2023) to identify similarities and differences across economies.

Suggested Citation

  • Fares Bounajm & Jean Garry Junior Roc & Yang Zhang, 2024. "Sources of pandemic-era inflation in Canada: an application of the Bernanke and Blanchard model," Staff Analytical Notes 2024-13, Bank of Canada.
    • Handle: RePEc:bca:bocsan:24-13
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    File URL: https://www.bankofcanada.ca/2024/06/staff-analytical-note-2024-13/
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    More about this item

    Keywords

    Economic models; Inflation and prices; Labour markets;
    All these keywords.

    JEL classification:

    • E2 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment
    • E24 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Employment; Unemployment; Wages; Intergenerational Income Distribution; Aggregate Human Capital; Aggregate Labor Productivity
    • E3 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles
    • E31 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Price Level; Inflation; Deflation
    • E37 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Forecasting and Simulation: Models and Applications
    • E5 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit
    • E52 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Monetary Policy
    • E6 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook

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