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- W3122484050 abstract "In this paper, I use data from 19 industrialized countries to investigate the oil price pass-through into inflation across countries and over time. A time-varying pass-through coefficient is estimated and the determinants of the recent declining effects of oil shocks on inflation are investigated. A low inflation environment and decreasing energy intensity can explain the declining pass-through, whereas other factors such as exchange rate movements, trade openness, and monetary policy have played a minor role in the evolution of pass-through over time. Finally, the evidence from disaggregated data suggests that most of the inflationary effects of oil price changes fall on energy goods. The effects on other goods and services such as food, housing, and rents are modest and negligible. Moreover, further investigation of energy-related goods shows that the oil price pass-through to energy goods has increased rather than decreased over time." @default.
- W3122484050 created "2021-02-01" @default.
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- W3122484050 date "2008-01-01" @default.
- W3122484050 modified "2023-09-23" @default.
- W3122484050 title "Oil Price Pass-Through into Inflation" @default.
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