000293771 001__ 293771 000293771 005__ 20250213113248.0 000293771 0247_ $$2doi$$a10.71609/iheid-3gz0-a930 000293771 037__ $$aBOOK 000293771 245__ $$aOil price pass-through into inflation: the evidence from oil exporting countries 000293771 260__ $$aGeneva$$bThe Graduate Institute of International and Development Studies$$c2016 000293771 269__ $$a2016 000293771 300__ $$a24 p. 000293771 336__ $$aPapers and Reports 000293771 490__ $$aGraduate Institute of International and Development Studies Working Paper ; no. 01/2016 000293771 520__ $$aThis 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. 000293771 700__ $$aKarimli, Tural 000293771 700__ $$aJafarova, Nigar 000293771 700__ $$aAliyeva, Heyran 000293771 700__ $$aHuseynov, Salman 000293771 8564_ $$9455cbc27-4aa1-40b5-bd3c-ff3ee206e760$$s2305704$$uhttps://repository.graduateinstitute.ch/record/293771/files/IHEIDWPInter_eco_01_2016.pdf 000293771 8564_ $$9a46848c1-9772-4613-94a4-c8a7104c9144$$xpdfa$$s3233893$$uhttps://repository.graduateinstitute.ch/record/293771/files/IHEIDWPInter_eco_01_2016.pdf?subformat=pdfa 000293771 901__ $$uInternational Economics Department$$0319285 000293771 909CO $$ooai:repository.graduateinstitute.ch:293771$$pIHEID:Infonet_CTEI$$pIHEID:Infonet_IE$$pIHEID:Infonet_CCDP$$pGLOBAL_SET$$pIHEID:Explore$$pIHEID:Infonet_CFD$$pIHEID:Infonet 000293771 937__ $$aWP-2016-007 000293771 980__ $$aINFONET 000293771 980__ $$aWP