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Inflation Responses to Recent Shocks [electronic resource]: Do G7 Countries Behave Differently? / Lukas Vogel ... [et al] = Réponse de l'inflation aux chocs récents : Les pays du G7 diffèrent-ils les uns des autres ? / Lukas Vogel ... [et al]

By: Contributor(s): Material type: ArticleArticleSeries: OECD Economics Department Working Papers ; no.689.Publication details: Paris : OECD Publishing, 2009.Description: 41 p. ; 21 x 29.7cmOther title:
  • Réponse de l'inflation aux chocs récents : Les pays du G7 diffèrent-ils les uns des autres ?
Subject(s): Other classification:
  • E52
  • E31
  • J30
Online resources: Abstract: This paper uses a variety of empirical methods to examine the apparent differences in monetary policy stances as between the United States and other G7 economies, notably those in the euro area, during the period of sharp increases in oil and other commodity prices in the first half of 2008. In particular it asks the question whether observed differences in policy stances could be attributed to differences in economic structures and the vulnerability of different regions to inflationary shocks coming from import prices as opposed to differences in monetary policy objectives. The main conclusion is that although there are a number of differences in the estimated impact and dynamics of commodities, import prices and exchange rates on domestic inflation, which may have contributed to differences in policy stances during the boom in commodity prices, they cannot explain them all.
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Item type Home library Collection Call number Status Date due Barcode Item holds
Working Paper Biblioteca Digital Colección OECD OECD 225018287428 (Browse shelf(Opens below)) Not For Loan
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This paper uses a variety of empirical methods to examine the apparent differences in monetary policy stances as between the United States and other G7 economies, notably those in the euro area, during the period of sharp increases in oil and other commodity prices in the first half of 2008. In particular it asks the question whether observed differences in policy stances could be attributed to differences in economic structures and the vulnerability of different regions to inflationary shocks coming from import prices as opposed to differences in monetary policy objectives. The main conclusion is that although there are a number of differences in the estimated impact and dynamics of commodities, import prices and exchange rates on domestic inflation, which may have contributed to differences in policy stances during the boom in commodity prices, they cannot explain them all.

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