Why has Core Inflation Remained so Muted in the Face of the Oil Shock?:
To help policymakers form a judgment on inflation risks and the required monetary policy stance the OECD has developed an analytical framework based on a set of 'eclectic' Phillips curves estimated for the two largest OECD economies, the United States and the euro area, which is presented...
Gespeichert in:
| 1. Verfasser: | |
|---|---|
| Weitere Verfasser: | |
| Format: | Elektronisch E-Book |
| Sprache: | English |
| Veröffentlicht: |
Paris
OECD Publishing
2007
|
| Schriftenreihe: | OECD Economics Department Working Papers
|
| Schlagworte: | |
| Online-Zugang: | Volltext |
| Zusammenfassung: | To help policymakers form a judgment on inflation risks and the required monetary policy stance the OECD has developed an analytical framework based on a set of 'eclectic' Phillips curves estimated for the two largest OECD economies, the United States and the euro area, which is presented in this paper. This framework is used in the preparation of the Economic Outlook to explain recent developments in core inflation, excluding food and energy, based on developments in measures of economic slack (the output gap), spill-over effects from energy prices onto core inflation and lagged responses to past inflation via expectations formation. The fact that the knock-on effects from energy shocks onto core inflation appear small in comparison with the 1970s can be explained by the secular fall in energy intensity, a low and stable rate of 'mean inflation' -- to which observed inflation reverts after a shock has worked its way through -- and persistent slack in the aftermath of the bursting of the dotcom bubble |
| Beschreibung: | 1 Online-Ressource (34 Seiten) 21 x 29.7cm |
| DOI: | 10.1787/206408110285 |
Internformat
MARC
| LEADER | 00000nam a2200000zc 4500 | ||
|---|---|---|---|
| 001 | BV047936772 | ||
| 003 | DE-604 | ||
| 007 | cr|uuu---uuuuu | ||
| 008 | 220413s2007 xx o|||| 00||| eng d | ||
| 024 | 7 | |a 10.1787/206408110285 |2 doi | |
| 035 | |a (ZDB-13-SOC)061248436 | ||
| 035 | |a (OCoLC)1312700584 | ||
| 035 | |a (DE-599)BVBBV047936772 | ||
| 040 | |a DE-604 |b ger |e aacr | ||
| 041 | 0 | |a eng | |
| 049 | |a DE-384 |a DE-91 |a DE-473 |a DE-824 |a DE-29 |a DE-739 |a DE-355 |a DE-20 |a DE-1028 |a DE-1049 |a DE-188 |a DE-521 |a DE-861 |a DE-898 |a DE-92 |a DE-573 |a DE-19 | ||
| 100 | 1 | |a van den Noord, Paul |e Verfasser |4 aut | |
| 245 | 1 | 0 | |a Why has Core Inflation Remained so Muted in the Face of the Oil Shock? |c Paul van den Noord and Christophe André = Pourquoi l?inflation sous-jacente est elle restée si modérée en dépit du choc pétrolier ? / Paul van den Noord et Christophe André |
| 246 | 1 | 3 | |a Pourquoi l?inflation sous-jacente est elle restée si modérée en dépit du choc pétrolier ? |
| 264 | 1 | |a Paris |b OECD Publishing |c 2007 | |
| 300 | |a 1 Online-Ressource (34 Seiten) |c 21 x 29.7cm | ||
| 336 | |b txt |2 rdacontent | ||
| 337 | |b c |2 rdamedia | ||
| 338 | |b cr |2 rdacarrier | ||
| 490 | 0 | |a OECD Economics Department Working Papers | |
| 520 | |a To help policymakers form a judgment on inflation risks and the required monetary policy stance the OECD has developed an analytical framework based on a set of 'eclectic' Phillips curves estimated for the two largest OECD economies, the United States and the euro area, which is presented in this paper. This framework is used in the preparation of the Economic Outlook to explain recent developments in core inflation, excluding food and energy, based on developments in measures of economic slack (the output gap), spill-over effects from energy prices onto core inflation and lagged responses to past inflation via expectations formation. The fact that the knock-on effects from energy shocks onto core inflation appear small in comparison with the 1970s can be explained by the secular fall in energy intensity, a low and stable rate of 'mean inflation' -- to which observed inflation reverts after a shock has worked its way through -- and persistent slack in the aftermath of the bursting of the dotcom bubble | ||
| 650 | 4 | |a Economics | |
| 700 | 1 | |a André, Christophe |4 ctb | |
| 856 | 4 | 0 | |u https://doi.org/10.1787/206408110285 |x Verlag |z kostenfrei |3 Volltext |
| 912 | |a ZDB-13-SOC | ||
| 943 | 1 | |a oai:aleph.bib-bvb.de:BVB01-033318266 | |
Datensatz im Suchindex
| _version_ | 1818806114838380544 |
|---|---|
| adam_text | |
| adam_txt | |
| any_adam_object | |
| any_adam_object_boolean | |
| author | van den Noord, Paul |
| author2 | André, Christophe |
| author2_role | ctb |
| author2_variant | c a ca |
| author_facet | van den Noord, Paul André, Christophe |
| author_role | aut |
| author_sort | van den Noord, Paul |
| author_variant | d n p v dnp dnpv |
| building | Verbundindex |
| bvnumber | BV047936772 |
| collection | ZDB-13-SOC |
| ctrlnum | (ZDB-13-SOC)061248436 (OCoLC)1312700584 (DE-599)BVBBV047936772 |
| discipline | Wirtschaftswissenschaften |
| discipline_str_mv | Wirtschaftswissenschaften |
| doi_str_mv | 10.1787/206408110285 |
| format | Electronic eBook |
| fullrecord | <?xml version="1.0" encoding="UTF-8"?><collection xmlns="http://www.loc.gov/MARC21/slim"><record><leader>00000nam a2200000zc 4500</leader><controlfield tag="001">BV047936772</controlfield><controlfield tag="003">DE-604</controlfield><controlfield tag="007">cr|uuu---uuuuu</controlfield><controlfield tag="008">220413s2007 xx o|||| 00||| eng d</controlfield><datafield tag="024" ind1="7" ind2=" "><subfield code="a">10.1787/206408110285</subfield><subfield code="2">doi</subfield></datafield><datafield tag="035" ind1=" " ind2=" "><subfield code="a">(ZDB-13-SOC)061248436</subfield></datafield><datafield tag="035" ind1=" " ind2=" "><subfield code="a">(OCoLC)1312700584</subfield></datafield><datafield tag="035" ind1=" " ind2=" "><subfield code="a">(DE-599)BVBBV047936772</subfield></datafield><datafield tag="040" ind1=" " ind2=" "><subfield code="a">DE-604</subfield><subfield code="b">ger</subfield><subfield code="e">aacr</subfield></datafield><datafield tag="041" ind1="0" ind2=" "><subfield code="a">eng</subfield></datafield><datafield tag="049" ind1=" " ind2=" "><subfield code="a">DE-384</subfield><subfield code="a">DE-91</subfield><subfield code="a">DE-473</subfield><subfield code="a">DE-824</subfield><subfield code="a">DE-29</subfield><subfield code="a">DE-739</subfield><subfield code="a">DE-355</subfield><subfield code="a">DE-20</subfield><subfield code="a">DE-1028</subfield><subfield code="a">DE-1049</subfield><subfield code="a">DE-188</subfield><subfield code="a">DE-521</subfield><subfield code="a">DE-861</subfield><subfield code="a">DE-898</subfield><subfield code="a">DE-92</subfield><subfield code="a">DE-573</subfield><subfield code="a">DE-19</subfield></datafield><datafield tag="100" ind1="1" ind2=" "><subfield code="a">van den Noord, Paul</subfield><subfield code="e">Verfasser</subfield><subfield code="4">aut</subfield></datafield><datafield tag="245" ind1="1" ind2="0"><subfield code="a">Why has Core Inflation Remained so Muted in the Face of the Oil Shock?</subfield><subfield code="c">Paul van den Noord and Christophe André = Pourquoi l?inflation sous-jacente est elle restée si modérée en dépit du choc pétrolier ? / Paul van den Noord et Christophe André</subfield></datafield><datafield tag="246" ind1="1" ind2="3"><subfield code="a">Pourquoi l?inflation sous-jacente est elle restée si modérée en dépit du choc pétrolier ?</subfield></datafield><datafield tag="264" ind1=" " ind2="1"><subfield code="a">Paris</subfield><subfield code="b">OECD Publishing</subfield><subfield code="c">2007</subfield></datafield><datafield tag="300" ind1=" " ind2=" "><subfield code="a">1 Online-Ressource (34 Seiten)</subfield><subfield code="c">21 x 29.7cm</subfield></datafield><datafield tag="336" ind1=" " ind2=" "><subfield code="b">txt</subfield><subfield code="2">rdacontent</subfield></datafield><datafield tag="337" ind1=" " ind2=" "><subfield code="b">c</subfield><subfield code="2">rdamedia</subfield></datafield><datafield tag="338" ind1=" " ind2=" "><subfield code="b">cr</subfield><subfield code="2">rdacarrier</subfield></datafield><datafield tag="490" ind1="0" ind2=" "><subfield code="a">OECD Economics Department Working Papers</subfield></datafield><datafield tag="520" ind1=" " ind2=" "><subfield code="a">To help policymakers form a judgment on inflation risks and the required monetary policy stance the OECD has developed an analytical framework based on a set of 'eclectic' Phillips curves estimated for the two largest OECD economies, the United States and the euro area, which is presented in this paper. This framework is used in the preparation of the Economic Outlook to explain recent developments in core inflation, excluding food and energy, based on developments in measures of economic slack (the output gap), spill-over effects from energy prices onto core inflation and lagged responses to past inflation via expectations formation. The fact that the knock-on effects from energy shocks onto core inflation appear small in comparison with the 1970s can be explained by the secular fall in energy intensity, a low and stable rate of 'mean inflation' -- to which observed inflation reverts after a shock has worked its way through -- and persistent slack in the aftermath of the bursting of the dotcom bubble</subfield></datafield><datafield tag="650" ind1=" " ind2="4"><subfield code="a">Economics</subfield></datafield><datafield tag="700" ind1="1" ind2=" "><subfield code="a">André, Christophe</subfield><subfield code="4">ctb</subfield></datafield><datafield tag="856" ind1="4" ind2="0"><subfield code="u">https://doi.org/10.1787/206408110285</subfield><subfield code="x">Verlag</subfield><subfield code="z">kostenfrei</subfield><subfield code="3">Volltext</subfield></datafield><datafield tag="912" ind1=" " ind2=" "><subfield code="a">ZDB-13-SOC</subfield></datafield><datafield tag="943" ind1="1" ind2=" "><subfield code="a">oai:aleph.bib-bvb.de:BVB01-033318266</subfield></datafield></record></collection> |
| id | DE-604.BV047936772 |
| illustrated | Not Illustrated |
| index_date | 2024-07-03T19:35:06Z |
| indexdate | 2024-12-18T19:04:38Z |
| institution | BVB |
| language | English |
| oai_aleph_id | oai:aleph.bib-bvb.de:BVB01-033318266 |
| oclc_num | 1312700584 |
| open_access_boolean | 1 |
| owner | DE-384 DE-91 DE-BY-TUM DE-473 DE-BY-UBG DE-824 DE-29 DE-739 DE-355 DE-BY-UBR DE-20 DE-1028 DE-1049 DE-188 DE-521 DE-861 DE-898 DE-BY-UBR DE-92 DE-573 DE-19 DE-BY-UBM |
| owner_facet | DE-384 DE-91 DE-BY-TUM DE-473 DE-BY-UBG DE-824 DE-29 DE-739 DE-355 DE-BY-UBR DE-20 DE-1028 DE-1049 DE-188 DE-521 DE-861 DE-898 DE-BY-UBR DE-92 DE-573 DE-19 DE-BY-UBM |
| physical | 1 Online-Ressource (34 Seiten) 21 x 29.7cm |
| psigel | ZDB-13-SOC |
| publishDate | 2007 |
| publishDateSearch | 2007 |
| publishDateSort | 2007 |
| publisher | OECD Publishing |
| record_format | marc |
| series2 | OECD Economics Department Working Papers |
| spelling | van den Noord, Paul Verfasser aut Why has Core Inflation Remained so Muted in the Face of the Oil Shock? Paul van den Noord and Christophe André = Pourquoi l?inflation sous-jacente est elle restée si modérée en dépit du choc pétrolier ? / Paul van den Noord et Christophe André Pourquoi l?inflation sous-jacente est elle restée si modérée en dépit du choc pétrolier ? Paris OECD Publishing 2007 1 Online-Ressource (34 Seiten) 21 x 29.7cm txt rdacontent c rdamedia cr rdacarrier OECD Economics Department Working Papers To help policymakers form a judgment on inflation risks and the required monetary policy stance the OECD has developed an analytical framework based on a set of 'eclectic' Phillips curves estimated for the two largest OECD economies, the United States and the euro area, which is presented in this paper. This framework is used in the preparation of the Economic Outlook to explain recent developments in core inflation, excluding food and energy, based on developments in measures of economic slack (the output gap), spill-over effects from energy prices onto core inflation and lagged responses to past inflation via expectations formation. The fact that the knock-on effects from energy shocks onto core inflation appear small in comparison with the 1970s can be explained by the secular fall in energy intensity, a low and stable rate of 'mean inflation' -- to which observed inflation reverts after a shock has worked its way through -- and persistent slack in the aftermath of the bursting of the dotcom bubble Economics André, Christophe ctb https://doi.org/10.1787/206408110285 Verlag kostenfrei Volltext |
| spellingShingle | van den Noord, Paul Why has Core Inflation Remained so Muted in the Face of the Oil Shock? Economics |
| title | Why has Core Inflation Remained so Muted in the Face of the Oil Shock? |
| title_alt | Pourquoi l?inflation sous-jacente est elle restée si modérée en dépit du choc pétrolier ? |
| title_auth | Why has Core Inflation Remained so Muted in the Face of the Oil Shock? |
| title_exact_search | Why has Core Inflation Remained so Muted in the Face of the Oil Shock? |
| title_exact_search_txtP | Why has Core Inflation Remained so Muted in the Face of the Oil Shock? |
| title_full | Why has Core Inflation Remained so Muted in the Face of the Oil Shock? Paul van den Noord and Christophe André = Pourquoi l?inflation sous-jacente est elle restée si modérée en dépit du choc pétrolier ? / Paul van den Noord et Christophe André |
| title_fullStr | Why has Core Inflation Remained so Muted in the Face of the Oil Shock? Paul van den Noord and Christophe André = Pourquoi l?inflation sous-jacente est elle restée si modérée en dépit du choc pétrolier ? / Paul van den Noord et Christophe André |
| title_full_unstemmed | Why has Core Inflation Remained so Muted in the Face of the Oil Shock? Paul van den Noord and Christophe André = Pourquoi l?inflation sous-jacente est elle restée si modérée en dépit du choc pétrolier ? / Paul van den Noord et Christophe André |
| title_short | Why has Core Inflation Remained so Muted in the Face of the Oil Shock? |
| title_sort | why has core inflation remained so muted in the face of the oil shock |
| topic | Economics |
| topic_facet | Economics |
| url | https://doi.org/10.1787/206408110285 |
| work_keys_str_mv | AT vandennoordpaul whyhascoreinflationremainedsomutedinthefaceoftheoilshock AT andrechristophe whyhascoreinflationremainedsomutedinthefaceoftheoilshock AT vandennoordpaul pourquoilinflationsousjacenteestelleresteesimodereeendepitduchocpetrolier AT andrechristophe pourquoilinflationsousjacenteestelleresteesimodereeendepitduchocpetrolier |