03033nam 2200589Ia 450 991046423270332120170821160730.01-4623-8100-61-4527-4906-X97866128426341-282-84263-31-4518-7189-9(CKB)3170000000055212(EBL)1608202(SSID)ssj0000940089(PQKBManifestationID)11493984(PQKBTitleCode)TC0000940089(PQKBWorkID)10946633(PQKB)10493165(OCoLC)469135225(MiAaPQ)EBC1608202(EXLCZ)99317000000005521220041202d2009 uf 0engur|n|---|||||txtccrCommodity price volatility, cyclical fluctuations, and convergence[electronic resource] what is ahead for inflation in emerging Europe? /prepared by Edda Zoli[Washington D.C.] International Monetary Fund20091 online resource (21 p.)IMF working paper ;WP/09/41Description based upon print version of record.1-4519-1624-8 Includes bibliographical references.Contents; I. Introduction; Figures; 1. Headline Inflation; II. VAR analysis; 2. Variance Decomposition of Headline Inflation; Tables; 1: Response of Domestic Energy Inflation to International Oil Price Inflation Shocks; 2. Response of Domestic Food Inflation to International Food Price Inflation Shocks; III. Panel Estimation; 3. Response of Core Inflation to Shocks to Domestic Food and Energy Price Inflation; 4. Panel Regression Results; IV. Conclusion: What is Ahead for Inflation in Emerging Europe?; Appendixes; 1. Variable Definition and Data Sources; 2. Other Panel Results; ReferencesThis paper assesses the role of international commodity prices, cyclical fluctuations, and convergence in driving inflation in 18 European emerging economies. Country specific VARs and panel estimates indicate that international commodity price shocks have a significant impact on domestic inflation, but the inflation response is asymmetric for positive and negative shocks. Cyclical fluctuations explain a relative small share of inflation variability, and the inflation response is asymmetric during upturns and downturns. Price convergence is estimated to add nearly 3 percentage points to headliIMF working paper ;WP/09/41.Primary commoditiesPricesEuropeInflation (Finance)EuropeElectronic books.Primary commoditiesPricesInflation (Finance)338.278Zoli Edda894999MiAaPQMiAaPQMiAaPQBOOK9910464232703321Commodity price volatility, cyclical fluctuations, and convergence1999694UNINA