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Incluye referencias bibliográficas ; This paper assesses the impact of oil price changes on Spanish and euro area consumer price inflation. We find, consistently with recent international evidence, that the inflationary effect of oil price changes is limited, even though crude oil price...
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An exogenous oil price shock raises inflation and contracts output, similar to a negative productivity shock. In the standard New Keynesian model, however, this does not generate a tradeoff between inflation and output gap volatility: under a strict inflation targeting policy, the output decline...
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Incluye bibliografía ; We assess the extent to which the great US macroeconomic stability since the mid-1980s can be accounted for by changes in oil shocks and the oil share in GDP. To do this we estimate a DSGE model with an oil-producing sector before and after 1984 and perform counterfactual...
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precios de consumo (IPC) en la economía española desde una perspectiva histórica. La evidencia que se proporciona revela un …
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Artículo de revista ; This article analyses the impact of changes in oil prices on the consumer price index (CPI) in the Spanish economy from a historical perspective. The evidence provided reveals a substantial degree of pass-through of these changes to CPI components tied to heating and...
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de Price Targeting absorben la mitad de las fluctuaciones de los precios del petróleo, que no han sido explicadas por …, ignorados por estudios anteriores, explican alrededor del 10 % de las fluctuaciones de los precios del petróleo y son … especialmente relevantes durante el auge de los precios de las materias primas en la década de 2000. Confirmamos que la caída de los …
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