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Markups and inflation during the COVID-19 pandemic

Author

Listed:
  • Olga Bilyk
  • Timothy Grieder
  • Mikael Khan

Abstract

We find that prices and costs for consumer-oriented firms moved roughly one-for-one during the COVID-19 pandemic. This means firms fully passed rising costs through to the prices they charged. However, our results are suggestive, given data limitations and the uncertainty associated with estimating markups.

Suggested Citation

  • Olga Bilyk & Timothy Grieder & Mikael Khan, 2023. "Markups and inflation during the COVID-19 pandemic," Staff Analytical Notes 2023-8, Bank of Canada.
    • Handle: RePEc:bca:bocsan:23-8
    DOI: 10.34989/san-2023-8
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    Citations

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    Cited by:

    1. Daniel P. Monteiro & Daniel P. Monteiro, 2025. "A Prism Decomposition Of Euro Area Interest Rates," Quarterly Report on the Euro Area (QREA), Directorate General Economic and Financial Affairs (DG ECFIN), European Commission, vol. 24(1), pages 7-29, June.
    2. Mirko Licchetta & Vitor Martins & Matteo Salto & BoÅ™ek VaÅ¡Ã­Ä ekr, 2025. "Selected Macroeconomic And Social Aspects Of Housing Affordability," Quarterly Report on the Euro Area (QREA), Directorate General Economic and Financial Affairs (DG ECFIN), European Commission, vol. 24(1), pages 31-39, June.
    3. Menz, Jan-Oliver, 2024. "Sources of post-pandemic inflation in Germany and the euro area: An application of Bernanke and Blanchard (2023)," Technical Papers 02/2024, Deutsche Bundesbank.
    4. Bouras, Panagiotis & Bustamante, Christian & Guo, Xing & Short, Jacob, 2023. "The contribution of firm profits to the recent rise in inflation," Economics Letters, Elsevier, vol. 233(C).
    5. Mirko Licchetta & Giovanni Mattozzi, 2025. "Corporate Margins And Inflation During The Post Covid-19 Period In The Euro Area," Quarterly Report on the Euro Area (QREA), Directorate General Economic and Financial Affairs (DG ECFIN), European Commission, vol. 24(1), pages 41-54, June.

    More about this item

    Keywords

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    JEL classification:

    • D2 - Microeconomics - - Production and Organizations
    • D4 - Microeconomics - - Market Structure, Pricing, and Design
    • E2 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment
    • E3 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles
    • L1 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance

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