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dc.contributor.authorCross, Jamie
dc.contributor.authorBjørnland, Hilde C
dc.contributor.authorAastveit, Knut Are
dc.date.accessioned2022-02-10T08:12:52Z
dc.date.available2022-02-10T08:12:52Z
dc.date.created2022-01-02T17:19:17Z
dc.date.issued2021
dc.identifier.citationThe Review of Economics and Statistics, 2021en_US
dc.identifier.issn0034-6535
dc.identifier.urihttps://hdl.handle.net/11250/2978130
dc.description.abstractInflation expectations and the associated pass-through of oil price shocks depend on demand and supply conditions underlying the global oil market. We establish this result using a structural VAR model of the global oil market that jointly identifies transmissions of oil demand and supply shocks through real oil prices to both expected and actual inflation. We demonstrate that economic activity shocks have a significantly longer lasting effect on inflation expectations and actual inflation than other types of real oil price shocks, and resolve disagreements around the role of oil prices in explaining the missing deflation puzzle of the Great Recession.en_US
dc.language.isoengen_US
dc.publisherMIT pressen_US
dc.subjectInflation expectationsen_US
dc.subjectInflation pass-throughen_US
dc.subjectOil pricesen_US
dc.titleInflation expectations and the pass-through of oil pricesen_US
dc.typeJournal articleen_US
dc.typePeer revieweden_US
dc.description.versionacceptedVersionen_US
dc.rights.holderMit pressen_US
dc.source.journalReview of Economics and Statisticsen_US
dc.identifier.doi10.1162/rest_a_01073
dc.identifier.cristin1973386
cristin.ispublishedtrue
cristin.fulltextpostprint
cristin.qualitycode2


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