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 -