To our knowledge, this paper is the first to discuss the response of European energy commodity prices to unexpected monetary policy surprises from the European Central Bank. Using the Rigobon (2003) identification through heteroscedasticity method, we find a significant and positive response...

The Russian government’s attack on Ukraine and the spiral of sanctions that has been set in motion have heightened inflationary pressure - especially in Europe. The EU’s high dependency on Russian oil and gas imports harbours the risk that inflation in Europe will rise significantly and that...