TY  - GEN
AB  - This paper evaluates different channels of oil price pass through into inflation for the countries Azerbaijan, Kazakhstan and Russia. We propose a methodology to disentangle the effects of different channels after an oil price shock hits international markets. We measure the relative importance of the two distinct channels through which oil price shocks are transmitted into inflation in these economies.  For that, we employ an approach which is in the spirit of the methodology proposed by Sims and Zha(1995). The empirical evidence shows that the level of inflation in these oil-exporting countries responds significantly to oil price shocks. The fiscal and cost channels are major amplifiers of the effects of oil price shocks on inflation. By providing new evidence from emerging oil-exporting countries, the paper also has important policy implications on the maintenance of price stability by central banks.
AU  - Karimli, Tural
AU  - Jafarova, Nigar
AU  - Aliyeva, Heyran
AU  - Huseynov, Salman
CY  - Geneva
DA  - 2016
DA  - 2016
DO  - 10.71609/iheid-3gz0-a930
DO  - doi
ID  - 293771
L1  - https://repository.graduateinstitute.ch/record/293771/files/IHEIDWPInter_eco_01_2016.pdf
L1  - https://repository.graduateinstitute.ch/record/293771/files/IHEIDWPInter_eco_01_2016.pdf?subformat=pdfa
L2  - https://repository.graduateinstitute.ch/record/293771/files/IHEIDWPInter_eco_01_2016.pdf
L2  - https://repository.graduateinstitute.ch/record/293771/files/IHEIDWPInter_eco_01_2016.pdf?subformat=pdfa
L4  - https://repository.graduateinstitute.ch/record/293771/files/IHEIDWPInter_eco_01_2016.pdf
L4  - https://repository.graduateinstitute.ch/record/293771/files/IHEIDWPInter_eco_01_2016.pdf?subformat=pdfa
LK  - https://repository.graduateinstitute.ch/record/293771/files/IHEIDWPInter_eco_01_2016.pdf
LK  - https://repository.graduateinstitute.ch/record/293771/files/IHEIDWPInter_eco_01_2016.pdf?subformat=pdfa
N2  - This paper evaluates different channels of oil price pass through into inflation for the countries Azerbaijan, Kazakhstan and Russia. We propose a methodology to disentangle the effects of different channels after an oil price shock hits international markets. We measure the relative importance of the two distinct channels through which oil price shocks are transmitted into inflation in these economies.  For that, we employ an approach which is in the spirit of the methodology proposed by Sims and Zha(1995). The empirical evidence shows that the level of inflation in these oil-exporting countries responds significantly to oil price shocks. The fiscal and cost channels are major amplifiers of the effects of oil price shocks on inflation. By providing new evidence from emerging oil-exporting countries, the paper also has important policy implications on the maintenance of price stability by central banks.
PB  - The Graduate Institute of International and Development Studies
PP  - Geneva
PY  - 2016
PY  - 2016
T1  - Oil price pass-through into inflation: the evidence from oil exporting countries
TI  - Oil price pass-through into inflation: the evidence from oil exporting countries
UR  - https://repository.graduateinstitute.ch/record/293771/files/IHEIDWPInter_eco_01_2016.pdf
UR  - https://repository.graduateinstitute.ch/record/293771/files/IHEIDWPInter_eco_01_2016.pdf?subformat=pdfa
Y1  - 2016
ER  -