03075nam 2200601Ia 450 991046197620332120200520144314.01-4755-2354-81-4755-5175-4(CKB)2670000000278816(EBL)1606985(SSID)ssj0000940771(PQKBManifestationID)11532941(PQKBTitleCode)TC0000940771(PQKBWorkID)10956007(PQKB)11103457(MiAaPQ)EBC1606985(Au-PeEL)EBL1606985(CaPaEBR)ebr10627037(OCoLC)809810518(EXLCZ)99267000000027881620111102d2012 uy 0engur|n|---|||||txtccrInflation responses to commodity price shocks[electronic resource] how and why do countries differ? /prepared by Gaston Gelos and Yulia UstyugovaWashington, DC International Monetary Fund20121 online resource (33 p.)IMF working paper ;12/225Description based upon print version of record.1-4755-9308-2 1-4755-1024-1 Includes bibliographical references.Cover; Contents; I. Introduction and Summary; II. Literature Review; III. Data; Structural characteristics; Monetary and exchange-rate regimes; Possible presence of fiscal dominance; Governance; Business cycle factors; Policy reactions; IV. Does Inflation Revert to Core Inflation or Vice Versa?; V. Phillips-Curve Estimations; Panel estimations; Tables; 1. Phillips Curves-Panel Estimations; VI. The 2008 Commodity-Price Shock; Changes in headline inflation; Changes in core inflation; 2. Change in Headline Inflation around 2008 Shock; 3. Change in Core Inflation around 2008 ShockVII. ConclusionsReferences; Appendices; I. List of Countries Included; II. Data SourcesThis paper relates the inflationary impact of commodity price shocks across countries to a broad range of structural characteristics and policy frameworks over the period 2001-2010, using several approaches. The analysis suggests that economies with higher food shares in CPI baskets, fuel intensities, and pre-existing inflation levels were more prone to experience sustained inflationary effects from commodity price shocks. Countries with more independent central banks and higher governance scores seem to have contained the impact of these shocks better. The effect of the presence of inflation IMF Working PapersCommodity controlInflation (Finance)Electronic books.Commodity control.Inflation (Finance)Gelos Gaston943496Ustyugova Yulia943497MiAaPQMiAaPQMiAaPQBOOK9910461976203321Inflation responses to commodity price shocks2129410UNINA