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Digitalization: Implications for Monetary Policy

Author

Listed:
  • Vivian Chu
  • Tatjana Dahlhaus
  • Christopher Hajzler
  • Pierre-Yves Yanni

Abstract

We explore the implications of digitalization for monetary policy, both in terms of how monetary policy affects the economy and in terms of data analysis and communication with the public.

Suggested Citation

  • Vivian Chu & Tatjana Dahlhaus & Christopher Hajzler & Pierre-Yves Yanni, 2023. "Digitalization: Implications for Monetary Policy," Discussion Papers 2023-18, Bank of Canada.
    • Handle: RePEc:bca:bocadp:23-18
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    References listed on IDEAS

    as
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    3. Argia M. Sbordone, 2007. "Globalization and Inflation Dynamics: The Impact of Increased Competition," NBER Chapters, in: International Dimensions of Monetary Policy, pages 547-579, National Bureau of Economic Research, Inc.
    4. Alan Blinder & Michael Ehrmann & Jakob de Haan & David-Jan Jansen, 2017. "Necessity as the mother of invention: monetary policy after the crisis," Economic Policy, CEPR, CESifo, Sciences Po;CES;MSH, vol. 32(92), pages 707-755.
    5. Angelico, Cristina & Marcucci, Juri & Miccoli, Marcello & Quarta, Filippo, 2022. "Can we measure inflation expectations using Twitter?," Journal of Econometrics, Elsevier, vol. 228(2), pages 259-277.
    6. Erik Brynjolfsson & Yu (Jeffrey) Hu & Michael D. Smith, 2003. "Consumer Surplus in the Digital Economy: Estimating the Value of Increased Product Variety at Online Booksellers," Management Science, INFORMS, vol. 49(11), pages 1580-1596, November.
    7. Carola Binder, 2017. "Federal Reserve Communication and the Media," Journal of Media Economics, Taylor & Francis Journals, vol. 30(4), pages 191-214, October.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    Digitalization; Inflation and prices; Market structure and pricing; Monetary policy; Monetary policy transmission; Monetary policy communications;
    All these keywords.

    JEL classification:

    • E - Macroeconomics and Monetary Economics
    • E32 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Business Fluctuations; Cycles
    • E52 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Monetary Policy
    • C4 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods: Special Topics
    • C8 - Mathematical and Quantitative Methods - - Data Collection and Data Estimation Methodology; Computer Programs

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