. The world in 2022: slower growth, higher inflation, interest rate hikes .-- C. Effects on the region: large differences …

inflation by using a Nonlinear ARDL (NARDL) model, which is compared to a benchmark linear ARDL one. Using monthly data from the …, especially negative ones, have a stronger impact on inflation than OPU ones and capture some of the monetary policy uncertainty …, thereby reducing the direct effect of interest rate changes on inflation. Since EPU shocks reflect, at least to some extent …

. Finally, the study also predicts the statistically significant role of economic prosperity, trade, and inflation in explaining …