typical economy. Oil price shocks accounted for only about 4 percent of inflation variation, but they had a statistically … inflation variation over time. The share of inflation variance caused by oil price shocks increased from 4 percent prior to 2000 …-2021 and mid-2022. Finally, oil price shocks tended to contribute significantly more to inflation variation in advanced …

Global inflation has risen sharply from its lows in mid-2020, on rebounding global demand, supply bottlenecks, and … soaring food and energy prices, especially since the Russian Federation's invasion of Ukraine. Markets expect inflation to … developments, the risk of stagflation-a combination of high inflation and sluggish growth-has risen. The recovery from the …

and inflation dynamics in Europe. Specifically, we include in our specification two separate energy markets (oil and … natural gas) and two target macroeconomic variables, measuring inflation expectations and the realized headline inflation. Our … results demonstrate that, during the last year, inflation in the Euro area is more affected from energy price shocks …

in global inflation. Second, the contribution of global demand and oil price shocks increased over time, from 56 percent …, global demand and oil price shocks have accounted for most of the variation in global inflation. Finally, oil price shocks …This paper examines the drivers of fluctuations in global inflation, defined as a common factor across monthly headline …

We analyze the evolution and drivers of inflation during the pandemic and the likely trajectory of inflation in the … near-term using an event study of inflation around global recessions and a factor-augmented vector auto-regression (FAVAR …) model. We report three main results. First, the decline in global inflation during the 2020 global recession was the most …

Do inflation expectations and the associated pass-through of oil price shocks depend on demand and supply conditions … underlying the global market for crude oil? We answer this question with a novel structural vector autoregressive model of the … global oil market that jointly identifies transmissions of oil demand and supply shocks through the real price of oil to both …

Recent energy and food price surges, in the wake of Russia's invasion of Ukraine, have exacerbated inflation … pressuresthat are unusually high by the standards of the past two decades. High and rising inflation has prompted many emerging …. Inflation is expected to ease back towards targets over the medium-term as recent shocks unwind, but the 1970s experience is a …

This paper studies the impact of carbon pricing on firms' inflation expectations and discusses the potential …-level survey data. We document that a change in the price of carbon increases firms' inflation expectations. We then investigate … price growth respond similarly to inflation expectations. The effect on price expectations is more persistent than on actual …

This paper examines the impact of different types of oil price shocks on the U.S. economy, using a factor-augmented VAR … (FAVAR) approach. The results indicate that when examining the effects of oil price shocks, it is important to account for … the interaction between the oil market and the macroeconomy. I find that oil demand shocks are more important than oil …