Oil Prices and Inflation Dynamics Evidence from Advanced and Developing Economies is popular PDF and ePub book, written by Sangyup Choi in 2017-09-05, 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, Oil Prices and Inflation Dynamics Evidence from Advanced and Developing Economies can be Read Online from any device for your convenience.
Oil Prices and Inflation Dynamics Evidence from Advanced and Developing Economies Book PDF Summary
We study the impact of fluctuations in global oil prices on domestic inflation using an unbalanced panel of 72 advanced and developing economies over the period from 1970 to 2015. We find that a 10 percent increase in global oil inflation increases, on average, domestic inflation by about 0.4 percentage point on impact, with the effect vanishing after two years and being similar between advanced and developing economies. We also find that the effect is asymmetric, with positive oil price shocks having a larger effect than negative ones. The impact of oil price shocks, however, has declined over time due in large part to a better conduct of monetary policy. We further examine the transmission channels of oil price shocks on domestic inflation during the recent decades, by making use of a monthly dataset from 2000 to 2015. The results suggest that the share of transport in the CPI basket and energy subsidies are the most robust factors in explaining cross-country variations in the effects of oil price shocks during the this period.
Detail Book of Oil Prices and Inflation Dynamics Evidence from Advanced and Developing Economies PDF
- Author : Sangyup Choi
- Release : 05 September 2017
- Publisher : International Monetary Fund
- ISBN : 9781484318430
- Genre : Business & Economics
- Total Page : 55 pages
- Language : English
- PDF File Size : 17,8 Mb
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