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...
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| Format: | Elektronisch E-Book |
| Sprache: | English |
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[Washington, D.C.] :
International Monetary Fund,
©2012.
|
| Schriftenreihe: | IMF working paper ;
WP/12/225. |
| Schlagworte: | |
| Online-Zugang: | Volltext |
| Zusammenfassung: | 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. |
| Beschreibung: | Title from PDF title page (IMF Web site, viewed September 12, 2012). "Western Hemisphere Department." "September 2012." |
| Beschreibung: | 1 online resource (32 pages) |
| Bibliographie: | Includes bibliographical references. |
| ISBN: | 1475593082 9781475593082 1475510241 9781475510249 1475551754 9781475551754 1475523548 9781475523546 |
| ISSN: | 2227-8885 ; |
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| 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. | ||
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| 500 | |a Title from PDF title page (IMF Web site, viewed September 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. | |
| 546 | |a English. | ||
| 650 | 0 | |a Inflation (Finance) |x Econometric models. | |
| 650 | 0 | |a Prices |x Econometric models. | |
| 650 | 0 | |a Inflation (Finance) |0 http://id.loc.gov/authorities/subjects/sh85066112 | |
| 650 | 2 | |a Inflation, Economic |0 https://id.nlm.nih.gov/mesh/D007250 | |
| 650 | 6 | |a Inflation |x Modèles économétriques. | |
| 650 | 6 | |a Prix |x Modèles économétriques. | |
| 650 | 6 | |a Inflation. | |
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| 650 | 7 | |a Prices |x Econometric models |2 fast | |
| 700 | 1 | |a Ustyugova, Yulia. |0 http://id.loc.gov/authorities/names/no2012122668 | |
| 710 | 2 | |a International Monetary Fund. |b Western Hemisphere Department. |0 http://id.loc.gov/authorities/names/n82237138 | |
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| author | Gelos, Gaston |
| author2 | Ustyugova, Yulia |
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| author_GND | http://id.loc.gov/authorities/names/no95035469 http://id.loc.gov/authorities/names/no2012122668 |
| author_corporate | International Monetary Fund. Western Hemisphere Department |
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| author_facet | Gelos, Gaston Ustyugova, Yulia International Monetary Fund. Western Hemisphere Department |
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| contents | 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. VII. ConclusionsReferences; Appendices; I. List of Countries Included; II. Data Sources. |
| ctrlnum | (OCoLC)809810518 |
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| dewey-ones | 332 - Financial economics |
| dewey-raw | 332.152 332.41 |
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| dewey-tens | 330 - Economics |
| discipline | Wirtschaftswissenschaften |
| format | Electronic eBook |
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:</subfield><subfield code="b">International Monetary Fund,</subfield><subfield code="c">©2012.</subfield></datafield><datafield tag="300" ind1=" " ind2=" "><subfield code="a">1 online resource (32 pages)</subfield></datafield><datafield tag="336" ind1=" " ind2=" "><subfield code="a">text</subfield><subfield code="b">txt</subfield><subfield code="2">rdacontent</subfield></datafield><datafield tag="337" ind1=" " ind2=" "><subfield code="a">computer</subfield><subfield code="b">c</subfield><subfield code="2">rdamedia</subfield></datafield><datafield tag="338" ind1=" " ind2=" "><subfield code="a">online resource</subfield><subfield code="b">cr</subfield><subfield code="2">rdacarrier</subfield></datafield><datafield tag="340" ind1=" " ind2=" "><subfield code="g">polychrome.</subfield><subfield code="2">rdacc</subfield><subfield code="0">http://rdaregistry.info/termList/RDAColourContent/1003</subfield></datafield><datafield tag="347" ind1=" " ind2=" "><subfield code="a">data 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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.</subfield></datafield><datafield tag="504" ind1=" " ind2=" "><subfield code="a">Includes bibliographical references.</subfield></datafield><datafield tag="500" ind1=" " ind2=" "><subfield code="a">"Western Hemisphere Department."</subfield></datafield><datafield tag="500" ind1=" " ind2=" "><subfield code="a">"September 2012."</subfield></datafield><datafield tag="505" ind1="0" ind2=" "><subfield code="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.</subfield></datafield><datafield tag="505" ind1="8" ind2=" "><subfield code="a">VII. ConclusionsReferences; Appendices; I. List of Countries Included; II. 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| id | ZDB-4-EBU-ocn809810518 |
| illustrated | Not Illustrated |
| indexdate | 2024-11-26T14:49:07Z |
| institution | BVB |
| institution_GND | http://id.loc.gov/authorities/names/n82237138 |
| isbn | 1475593082 9781475593082 1475510241 9781475510249 1475551754 9781475551754 1475523548 9781475523546 |
| issn | 2227-8885 ; |
| language | English |
| oclc_num | 809810518 |
| open_access_boolean | |
| owner | MAIN DE-863 DE-BY-FWS |
| owner_facet | MAIN DE-863 DE-BY-FWS |
| physical | 1 online resource (32 pages) |
| psigel | ZDB-4-EBU |
| publishDate | 2012 |
| publishDateSearch | 2012 |
| publishDateSort | 2012 |
| publisher | International Monetary Fund, |
| record_format | marc |
| series | IMF working paper ; |
| series2 | IMF working paper, |
| spelling | Gelos, Gaston. http://id.loc.gov/authorities/names/no95035469 Inflation responses to commodity price shocks : how and why do countries differ? / prepared by Gaston Gelos, Yulia Ustyugova. [Washington, D.C.] : International Monetary Fund, ©2012. 1 online resource (32 pages) text txt rdacontent computer c rdamedia online resource cr rdacarrier polychrome. rdacc http://rdaregistry.info/termList/RDAColourContent/1003 data file IMF working paper, 2227-8885 ; WP/225 Title from PDF title page (IMF Web site, viewed September 12, 2012). 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. Includes bibliographical references. "Western Hemisphere Department." "September 2012." 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. VII. ConclusionsReferences; Appendices; I. List of Countries Included; II. Data Sources. English. Inflation (Finance) Econometric models. Prices Econometric models. Inflation (Finance) http://id.loc.gov/authorities/subjects/sh85066112 Inflation, Economic https://id.nlm.nih.gov/mesh/D007250 Inflation Modèles économétriques. Prix Modèles économétriques. Inflation. BUSINESS & ECONOMICS Finance. bisacsh Inflation (Finance) Econometric models fast Prices Econometric models fast Ustyugova, Yulia. http://id.loc.gov/authorities/names/no2012122668 International Monetary Fund. Western Hemisphere Department. http://id.loc.gov/authorities/names/n82237138 1-4755-9308-2 1-4755-1024-1 IMF working paper ; WP/12/225. http://id.loc.gov/authorities/names/no89010263 FWS01 ZDB-4-EBU FWS_PDA_EBU https://search.ebscohost.com/login.aspx?direct=true&scope=site&db=nlebk&AN=568162 Volltext |
| spellingShingle | Gelos, Gaston Inflation responses to commodity price shocks : how and why do countries differ? / IMF working paper ; 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. VII. ConclusionsReferences; Appendices; I. List of Countries Included; II. Data Sources. Inflation (Finance) Econometric models. Prices Econometric models. Inflation (Finance) http://id.loc.gov/authorities/subjects/sh85066112 Inflation, Economic https://id.nlm.nih.gov/mesh/D007250 Inflation Modèles économétriques. Prix Modèles économétriques. Inflation. BUSINESS & ECONOMICS Finance. bisacsh Inflation (Finance) Econometric models fast Prices Econometric models fast |
| subject_GND | http://id.loc.gov/authorities/subjects/sh85066112 https://id.nlm.nih.gov/mesh/D007250 |
| title | Inflation responses to commodity price shocks : how and why do countries differ? / |
| title_auth | Inflation responses to commodity price shocks : how and why do countries differ? / |
| title_exact_search | Inflation responses to commodity price shocks : how and why do countries differ? / |
| title_full | Inflation responses to commodity price shocks : how and why do countries differ? / prepared by Gaston Gelos, Yulia Ustyugova. |
| title_fullStr | Inflation responses to commodity price shocks : how and why do countries differ? / prepared by Gaston Gelos, Yulia Ustyugova. |
| title_full_unstemmed | Inflation responses to commodity price shocks : how and why do countries differ? / prepared by Gaston Gelos, Yulia Ustyugova. |
| title_short | Inflation responses to commodity price shocks : |
| title_sort | inflation responses to commodity price shocks how and why do countries differ |
| title_sub | how and why do countries differ? / |
| topic | Inflation (Finance) Econometric models. Prices Econometric models. Inflation (Finance) http://id.loc.gov/authorities/subjects/sh85066112 Inflation, Economic https://id.nlm.nih.gov/mesh/D007250 Inflation Modèles économétriques. Prix Modèles économétriques. Inflation. BUSINESS & ECONOMICS Finance. bisacsh Inflation (Finance) Econometric models fast Prices Econometric models fast |
| topic_facet | Inflation (Finance) Econometric models. Prices Econometric models. Inflation (Finance) Inflation, Economic Inflation Modèles économétriques. Prix Modèles économétriques. Inflation. BUSINESS & ECONOMICS Finance. Inflation (Finance) Econometric models Prices Econometric models |
| url | https://search.ebscohost.com/login.aspx?direct=true&scope=site&db=nlebk&AN=568162 |
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