Shioji, Etsuro; Uchino, Taisuke - National Bureau of Economic Research (NBER) - 2010
In this paper, we investigate changes in the impacts of world crude oil prices on domestic prices in Japan. First, we employ a time-varying parameter VAR (TVP-VAR) approach to confirm that the rate of pass-through of oil prices declined, both at the aggregate and sectoral levels, for the period...