Oil price pass-through into inflation in Spain at national and regional level
| dc.contributor.author | Topan, Ligia | |
| dc.contributor.author | Castro Rozo, César Augusto | |
| dc.contributor.author | Jerez, Miguel | |
| dc.contributor.author | Barge Gil, Andrés | |
| dc.contributor.department | Economía | es_ES |
| dc.contributor.department | Ekonomia | eu |
| dc.date.accessioned | 2021-06-21T10:03:35Z | |
| dc.date.available | 2021-06-21T10:03:35Z | |
| dc.date.issued | 2020 | |
| dc.description.abstract | Oil price showed sharp fluctuations in recent years which revived the interest in its effect on inflation. In this paper, we discuss the relationship between oil price and inflation in Spain, at national and regional levels, and making the distinction between energy and non-energy inflation. To this end, we fit econometric models to measure the effect of oil price shocks on inflation and to predict them under different scenarios. Our results show that almost half of the volatility of changes in total inflation is explained by changes in oil price. As could be expected, the energy component of inflation drives this effect. We also find that, under the most likely scenarios, 1-year ahead total inflation will be moderate, with relevant differences across regions. | en |
| dc.description.sponsorship | This research was supported by Instituto Complutense de Analisis Economico (ICAE), as well as Universidad Complutense de Madrid/Banco de Santander through grants PR26/16-20270, 0412155 and a CT17/17-CT18/17 FPI scholarship. César Castro acknowledges financial support from Ministerio de Ciencia, Innovación y Universidades (Project DGCT, No. PGC2018-093542-B-I00). Andrés Barge-Gil acknowledges financial support from Ministerio de Economía y Competitividad (Project ECO2017-82445-R). | en |
| dc.format.extent | 23 p. | |
| dc.format.mimetype | application/pdf | en |
| dc.identifier.doi | 10.1007/s13209-020-00222-4 | |
| dc.identifier.issn | 1869-4187 | |
| dc.identifier.uri | https://academica-e.unavarra.es/handle/2454/40005 | |
| dc.language.iso | eng | en |
| dc.publisher | Springer | en |
| dc.relation.ispartof | SERIEs (2020) 11:561–583 | en |
| dc.relation.projectID | info:eu-repo/grantAgreement/AEI/Plan Estatal de Investigación Científica y Técnica y de Innovación 2017-2020/PGC2018-093542-B-I00/ES/ | |
| dc.relation.projectID | info:eu-repo/grantAgreement/AEI/Plan Estatal de Investigación Científica y Técnica y de Innovación 2013-2016/ECO2017-82445-R/ES/ | |
| dc.relation.publisherversion | https://doi.org/10.1007/s13209-020-00222-4 | |
| dc.rights | © The Author(s) 2020. This article is licensed under a CreativeCommonsAttribution 4.0 International License,which permits use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons licence, and indicate if changes were made. The images or other third party material in this article are included in the article’s Creative Commons licence, unless indicated otherwise in a credit line to the material. If material is not included in the article’s Creative Commons licence and your intended use is not permitted by statutory regulation or exceeds the permitted use, you will need to obtain permission directly from the copyright holder. | en |
| dc.rights.accessRights | info:eu-repo/semantics/openAccess | |
| dc.rights.uri | https://creativecommons.org/licenses/by/4.0/ | |
| dc.subject | Deflation | en |
| dc.subject | Forecasting | en |
| dc.subject | Inflation | en |
| dc.subject | Oil price | en |
| dc.subject | Simulation | en |
| dc.title | Oil price pass-through into inflation in Spain at national and regional level | en |
| dc.type | info:eu-repo/semantics/article | |
| dc.type.version | info:eu-repo/semantics/publishedVersion | |
| dspace.entity.type | Publication | |
| relation.isAuthorOfPublication | b2bbd9ff-0bab-4ce6-bced-4dcb0669a170 | |
| relation.isAuthorOfPublication.latestForDiscovery | b2bbd9ff-0bab-4ce6-bced-4dcb0669a170 |