This paper relates the inflationary impact of commodity price shocks across countries to a broad range of structural … sustained inflationary effects from commodity price shocks. Countries with more independent central banks and higher governance …

framework. It models a small open economy and the rest of the world together to discover both accompanying effects of oil price …Analyzing macroeconomic impacts of oil price changes requires first to investigate different sources of these changes … and their distinct effects. Kilian (2009) analyzes the effects of an oil supply shock, an aggregate demand shock, and a …

with the food and oil price shocks in 2007 and the first half of 2008. It reviews inflation developments in a sample of …