Monetary policy influences inflation dynamics by exerting impact on a diverse array of commodity prices. At high … importance of the commodity-price channel of monetary policy on domestic and international inflation at longer horizons (6 … accounts for 47% of the total effect of US monetary policy on US headline inflation, and 57% of the effect of US monetary …

This paper analyzes the monetary policy response to rising inflation in emerging and developing countries associated … with the food and oil price shocks in 2007 and the first half of 2008. It reviews inflation developments in a sample of … of inflation; provides a synthesis of policy responses taken against the background of the conflicting objectives and …

higher food shares in CPI baskets, fuel intensities, and pre-existing inflation levels were more prone to experience … scores seem to have contained the impact of these shocks better. The effect of the presence of inflation …

decomposing U.S. interest rates changes into two orthogonal shocks: the pure monetary policy shock and the information news shock … countries, with oil exporters with stronger fundamentals withstanding well the shock and oil importers with weaker fundamentals …

There is an extensive literature noting that high inflation can add to income inequality, and a parallel literature … assessing the effect of rising food prices on the poor. This paper attempts to combine these strands by dividing inflation into … food and nonfood inflation and assessing whether food inflation affects income inequality differently from nonfood …

As in the rest of the world, inflation in CEMAC surged more quickly and persistently than expected during the 2021 …-23 period. This paper examines the drivers of inflation dynamics and the contribution of global shocks to inflation persistence … role of global factors in driving inflation dynamics. Global commodity food and oil price fluctuations, and shipping costs …

money in forecasting euro-area inflation. We compare the predictive performance within and among various classes of … structural and empirical models in a consistent framework using Bayesian and other estimation techniques. We find that money … contains relevant information for inflation in some model classes. Money-based New Keynesian DSGE models and VARs incorporating …

This paper identifies over 100 inflation shock episodes in 56 countries since the 1970s, including over 60 episodes … linked to the 1973-79 oil crises. We document that only in 60 percent of the episodes was inflation brought back down (or … "resolved") within 5 years, and that even in these "successful" cases resolving inflation took, on average, over 3 years …

This paper investigates the impact of fiscal shocks on inflation, using a large panel of 139 countries over the period … 1970-2021. First, both headline and core measures of inflation increase in response to expansionary shifts in the fiscal … economic conditions, as well as monetary policy type, exchange rate regimes and fiscal rules, at the time of the shock. We …