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Google圖書搜尋
Energy Shocks in the Euro Area
Chiara Casoli
Matteo Manera
Daniele Valenti
其他書名
Disentangling the Pass-through from Oil and Gas Prices to Inflation
出版
Fondazione Eni Enrico Mattei (FEEM)
, 2022
URL
http://books.google.com.hk/books?id=gEemzwEACAAJ&hl=&source=gbs_api
註釋
We develop a Bayesian Structural VAR (SVAR) model to study the relationship between different kinds of energy shocks and inflation dynamics in Europe. Specifically, we include in our specification two separate energy markets (oil and natural gas) and two target macroeconomic variables, measuring inflation expectations and the realized headline inflation. Our results demonstrate that, during the last year, inflation in the Euro area is more affected from energy price shocks, particularly those coming from the natural gas sector. The high peaks of the Eurozone inflation are mainly associated with gas consumption demand shocks and, to a lesser extent, to oil and gas supply shocks.
