Another Pass-Through Bites the Dust? Oil Prices and Inflation

De Gregorio, José; Landerretche, Oscar; Neilson, Christopher
April 2007
Economia;Spring2007, Vol. 7 Issue 2, p155
Academic Journal
The article focuses on a study that investigated the evolution of the pass-through of changes in oil prices to general inflation for a broad number of countries in order to quantify the decline in the impact of oil price hikes on general price levels worldwide and to evaluate hypotheses that might explain the trend. The relatively mild effects of the oil shock on the global economy may be explained by several factors, including a decline in the exchange rate pass-through and a reduction in the use of oil per unit of gross domestic product (GDP).


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