Böck (Boeck), Maximilian; Zoerner (Zörner), Thomas O. - 2023
This paper investigates the recent increases in natural gas prices and its propagation effects via inflation … expectations. Using a structural vector autoregression, we identify a euro area natural gas price shock with a combination of sign …- and zero-restrictions. We rely on market-based measures of inflation expectations. We find that natural gas price shocks …