Commodity Prices and Inflation Expectations in the United States is popular PDF and ePub book, written by Oya Celasun in 2012-03-01, it is a fantastic choice for those who relish reading online the Business & Economics genre. Let's immerse ourselves in this engaging Business & Economics book by exploring the summary and details provided below. Remember, Commodity Prices and Inflation Expectations in the United States can be Read Online from any device for your convenience.
Commodity Prices and Inflation Expectations in the United States Book PDF Summary
U.S. monetary policy can remain extraordinarily accommodative only if longer-term inflation expectations stay well-anchored, including in response to commodity price shocks. We find that oil price shocks have a statistically significant, but economically small impact on longer-term inflation compensation embedded in U.S. Treasury bonds. The estimated effect is larger for the post-crisis period, and robust to controlling for measures of liquidity risk premia. Oil price shocks are also correlated with the variance of longer-term inflation expectations in the University of Michigan Survey of Consumers in the post-crisis period. These results are not attributable to looser monetary policy - oil price increases were associated with expectations of a faster monetary tightening after the crisis. Overall, the findings are consistent with some impact of commodity prices on long-term inflation expectations and/or on inflation rate risk.
Detail Book of Commodity Prices and Inflation Expectations in the United States PDF
- Author : Oya Celasun
- Release : 01 March 2012
- Publisher : International Monetary Fund
- ISBN : 9781475502633
- Genre : Business & Economics
- Total Page : 27 pages
- Language : English
- PDF File Size : 10,6 Mb
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