Advanced Search
MyIDEAS: Login

Inflation Impact of the Price of Imported Crude Oil in a Large

Contents:

Author Info

  • Cebula , Richard J.

    ()
    (Armstrong Atlantic State University,)

  • Renas, Stephen M.

    ()
    (Wright State University Department of Economics)

Abstract

This study empirically investigates whether the assumption of the monetary authority in Japan that rising prices on imported crude oil lead to domestic inflation in Japan has validity. In a model where real GDP growth, money stock growth, and the relative dependence on imported oil are allowed for, instrumental variables estimation reveals compelling evidence for the validity of this assumption. In particular, the greater the percentage increase in imported crude oil prices, the greater the domestic inflation rate. This impact is exacerbated the greater the percentage of oil consumption that is imported. In addition, oil price shocks involving imported crude oil price hikes of 40 percent or more in a given year further elevate the domestic inflation rate. Hence, it appears that this foundation of the monetary authority in Japan has validity

Download Info

To our knowledge, this item is not available for download. To find whether it is available, there are three options:
1. Check below under "Related research" whether another version of this item is available online.
2. Check on the provider's web page whether it is in fact available.
3. Perform a search for a similarly titled item that would be available.

Bibliographic Info

Article provided by Camera di Commercio di Genova in its journal Economia Internazionale / International Economics.

Volume (Year): 56 (2003)
Issue (Month): 3 ()
Pages: 315-322

as in new window
Handle: RePEc:ris:ecoint:0153

Contact details of provider:
Postal: Via Garibaldi 4, 16124 Genova, Italy
Phone: +39 010 27041
Fax: +39 010 2704222
Email:
Web page: http://www.ge.camcom.it/IT/Tool/Modulistica
More information through EDIRC

Related research

Keywords: Inflation; crude; oil; prices; imported; inflation;

Find related papers by JEL classification:

References

No references listed on IDEAS
You can help add them by filling out this form.

Citations

Lists

This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

Statistics

Access and download statistics

Corrections

When requesting a correction, please mention this item's handle: RePEc:ris:ecoint:0153. See general information about how to correct material in RePEc.

For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Angela Procopio).

If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

If references are entirely missing, you can add them using this form.

If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.

If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.

Please note that corrections may take a couple of weeks to filter through the various RePEc services.