Oil Shocks and Inflation The Case Of Chile and a Sample of Industrial Countries
AbstractThis paper evaluates the inflationary impact of an oil shock on several components of the consumer price index for several countries including Chile. All the countries in our sample display a significant response in headline inflation, energy inflation and non-core inflation. We also find a significant response in core inflation for all countries other than the U.S and France. Chile’s inflationary response is one of the highest and most persistent in the sample. Indeed, Chile’s response in headline, total and non-core inflation is above average. Notwithstanding the above, we notice that the size and persistence of inflation responses are rather moderate.
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Bibliographic InfoArticle provided by Central Bank of Chile in its journal Economía Chilena.
Volume (Year): 10 (2007)
Issue (Month): 1 (April)
Other versions of this item:
- Pablo Pincheira & Álvaro García, 2007. "Oil Shocks and Inflation The Case of Chile and a Sample of Industrial Countries," Working Papers Central Bank of Chile 413, Central Bank of Chile.
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