04755oam 22011294 450 991096008310332120250426110630.09786612842634978146238100514623810069781452749068145274906X9781282842632128284263397814518718901451871899(CKB)3170000000055212(EBL)1608202(SSID)ssj0000940089(PQKBManifestationID)11493984(PQKBTitleCode)TC0000940089(PQKBWorkID)10946633(PQKB)10493165(OCoLC)469135225(MiAaPQ)EBC1608202(IMF)WPIEE2009041(IMF)WPIEA2009041WPIEA2009041(EXLCZ)99317000000005521220020129d2009 uf 0engur|n|---|||||txtccrCommodity Price Volatility, Cyclical Fluctuations, and Convergence : What is Ahead for Inflation in Emerging Europe? /Edda Zoli1st ed.Washington, D.C. :International Monetary Fund,2009.1 online resource (21 p.)IMF Working PapersDescription based upon print version of record.9781451916249 1451916248 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 headline inflation, for the average country whose price level is about 50 percent relative to the EU-15 average.IMF Working Papers; Working Paper ;No. 2009/041Primary commoditiesPricesEuropeInflation (Finance)EuropeAgriculture: Aggregate Supply and Demand AnalysisimfCommodity MarketsimfCommodity price shocksimfDeflationimfDiffusion ProcessesimfDynamic Quantile RegressionsimfDynamic Treatment Effect ModelsimfEnergy: Demand and SupplyimfFood pricesimfFuel pricesimfInflationimfMacroeconomicsimfOil pricesimfPanel Data ModelsimfPrice LevelimfPricesimfSpatio-temporal ModelsimfState Space ModelsimfTime-Series ModelsimfUkraineimfPrimary commoditiesPricesInflation (Finance)Agriculture: Aggregate Supply and Demand AnalysisCommodity MarketsCommodity price shocksDeflationDiffusion ProcessesDynamic Quantile RegressionsDynamic Treatment Effect ModelsEnergy: Demand and SupplyFood pricesFuel pricesInflationMacroeconomicsOil pricesPanel Data ModelsPrice LevelPricesSpatio-temporal ModelsState Space ModelsTime-Series Models338.278Zoli Edda1111469DcWaIMFBOOK9910960083103321Commodity Price Volatility, Cyclical Fluctuations, and Convergence4372056UNINA