Inflation responses to commodity price shocks : how and why do countries differ? /

Inflation responses to commodity price shocks : how and why do countries differ? /

This paper relates the inflationary impact of commodity price shocks across countries to a broad range of structural characteristics and policy frameworks over the period 2001-2010, using several approaches. The analysis suggests that economies with higher food shares in CPI baskets, fuel intensitie...

Full description

Saved in:
Bibliographic Details
Main Author: Gelos, Gaston.
Corporate Author: International Monetary Fund. Western Hemisphere Department.
Other Authors: Ustyugova, Yulia.
Format: eBook
Language:English
Published: [Washington, D.C.] : International Monetary Fund, ©2012.
Series:IMF working paper ; WP/12/225.
Subjects:
Inflation (Finance) > Econometric models.
Prices > Econometric models.
Online Access:CONNECT
CONNECT
LEADER 05172cam a2200685Ia 4500
001 mig00005496936
003 OCoLC
005 20210517061127.7
006 m o d
007 cr cnu---unuuu
008 120912s2012 dcu ob i000 0 eng d
019 |a 813209609  |a 903698816  |a 961636236  |a 962654809  |a 966215516  |a 988442107  |a 991993676  |a 1037714610  |a 1038664674  |a 1038682918  |a 1045487400  |a 1055356586  |a 1058123244  |a 1077301940  |a 1081283153  |a 1087375269  |a 1107376553  |a 1114351886  |a 1124522728  |a 1153012591  |a 1202537889  |a 1228557462 
020 |a 1475593082  |q (electronic bk.) 
020 |a 9781475593082  |q (electronic bk.) 
020 |a 1475510241 
020 |a 9781475510249 
020 |a 1475551754 
020 |a 9781475551754 
020 |z 9781475510249 
020 |z 9781475551754 
022 |a 2227-8885 
024 8 |a 10.5089/9781475593082.001 
035 |a (OCoLC)809810518  |z (OCoLC)813209609  |z (OCoLC)903698816  |z (OCoLC)961636236  |z (OCoLC)962654809  |z (OCoLC)966215516  |z (OCoLC)988442107  |z (OCoLC)991993676  |z (OCoLC)1037714610  |z (OCoLC)1038664674  |z (OCoLC)1038682918  |z (OCoLC)1045487400  |z (OCoLC)1055356586  |z (OCoLC)1058123244  |z (OCoLC)1077301940  |z (OCoLC)1081283153  |z (OCoLC)1087375269  |z (OCoLC)1107376553  |z (OCoLC)1114351886  |z (OCoLC)1124522728  |z (OCoLC)1153012591  |z (OCoLC)1202537889  |z (OCoLC)1228557462 
035 0 0 |a ocm00000001wrldshrocn809810518 
040 |a DJB  |b eng  |e pn  |c DJB  |d CUS  |d OCLCQ  |d E7B  |d OCLCA  |d OCLCF  |d EBLCP  |d OCLCO  |d OCLCQ  |d YDXCP  |d N$T  |d OCLCO  |d VT2  |d OCLCQ  |d OCLCO  |d AZK  |d LOA  |d AGLDB  |d OCLCQ  |d MOR  |d CCO  |d PIFAG  |d ZCU  |d MERUC  |d OCLCQ  |d U3W  |d STF  |d WRM  |d VNS  |d OCLCQ  |d VTS  |d CEF  |d NRAMU  |d ICG  |d OTZ  |d AU@  |d OCLCQ  |d U3G  |d DKC  |d OCLCQ  |d M8D  |d OCLCQ  |d BOL 
049 |a TXMM 
050 4 |a HG3881.5.I58  |b W67 No. 225eb 
082 0 4 |a 332.152  |a 332.41  |2 23 
100 1 |a Gelos, Gaston. 
245 1 0 |a Inflation responses to commodity price shocks :  |b how and why do countries differ? /  |c prepared by Gaston Gelos, Yulia Ustyugova. 
260 |a [Washington, D.C.] :  |b International Monetary Fund,  |c ©2012. 
300 |a 1 online resource (32 pages). 
336 |a text  |b txt  |2 rdacontent 
337 |a computer  |b c  |2 rdamedia 
338 |a online resource  |b cr  |2 rdacarrier 
340 |g polychrome.  |2 rdacc  |0 http://rdaregistry.info/termList/RDAColourContent/1003 
347 |a data file  |2 rda 
490 1 |a IMF working paper ;  |v WP/225 
500 |a Title from PDF title page (IMF Web site, viewed Sept. 12, 2012). 
520 |a This paper relates the inflationary impact of commodity price shocks across countries to a broad range of structural characteristics and policy frameworks over the period 2001-2010, using several approaches. The analysis suggests that economies with higher food shares in CPI baskets, fuel intensities, and pre-existing inflation levels were more prone to experience sustained inflationary effects from commodity price shocks. Countries with more independent central banks and higher governance scores seem to have contained the impact of these shocks better. The effect of the presence of inflation targeting regimes, however, appears very modest and not evident during the 2008 food price shock. The evidence suggests that trade openness, financial development, dollarization, and labor market flexibility do not significantly influence the way in which domestic inflation responds to international commodity price shocks. 
504 |a Includes bibliographical references. 
500 |a "Western Hemisphere Department." 
500 |a "September 2012." 
505 0 |a Cover; Contents; I. Introduction and Summary; II. Literature Review; III. Data; Structural characteristics; Monetary and exchange-rate regimes; Possible presence of fiscal dominance; Governance; Business cycle factors; Policy reactions; IV. Does Inflation Revert to Core Inflation or Vice Versa?; V. Phillips-Curve Estimations; Panel estimations; Tables; 1. Phillips Curves-Panel Estimations; VI. The 2008 Commodity-Price Shock; Changes in headline inflation; Changes in core inflation; 2. Change in Headline Inflation around 2008 Shock; 3. Change in Core Inflation around 2008 Shock. 
505 8 |a VII. ConclusionsReferences; Appendices; I. List of Countries Included; II. Data Sources. 
590 |a EBSCO eBook Business Collection 
590 |a EBSCO eBook Academic Comprehensive Collection North America 
650 0 |a Inflation (Finance)  |x Econometric models. 
650 0 |a Prices  |x Econometric models. 
700 1 |a Ustyugova, Yulia. 
710 2 |a International Monetary Fund.  |b Western Hemisphere Department. 
730 0 |a WORLDSHARE SUB RECORDS 
830 0 |a IMF working paper ;  |v WP/12/225. 
856 4 0 |u https://ezproxy.mtsu.edu/login?url=https://search.ebscohost.com/login.aspx?direct=true&scope=site&db=nlebk&AN=568162  |z CONNECT  |3 EBSCO  |t 0 
907 |a 4776112  |b 05-25-21  |c 07-06-20 
998 |a wi  |b 05-25-21  |c m  |d z   |e -  |f eng  |g dcu  |h 0  |i 2 
994 |a 92  |b TXM 
999 f f |i 1845e0dd-b4d0-4655-a804-72a333d0ea9c  |s a1c62267-b776-4afd-ab57-cf01551ef1b5  |t 0 
952 f f |t 1  |e HG3881.5.I58 W67 No. 225eb  |h Library of Congress classification 
856 4 0 |3 EBSCO  |t 0  |u https://ezproxy.mtsu.edu/login?url=https://search.ebscohost.com/login.aspx?direct=true&scope=site&db=nlebk&AN=568162  |z CONNECT 

Similar Items