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 …

and their distinct effects. Kilian (2009) analyzes the effects of an oil supply shock, an aggregate demand shock, and a … precautionary oil demand shock. The paper's aim is to model macroeconomic consequences of these shocks within a new Keynesian DSGE …

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 …

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 …

data for the United States, we find that a positive inflation expectations shock is deflationary and contractionary …The consensus among central bankers is that higher inflation expectations can drive up inflation today, requiring … tighter policy. We assess this by devising a novel method for identifying shocks to inflation expectations, estimating a semi …