Economics: Faculty Publications
An Empirical Note on the Inflation Impact of the Price of Imported Crude Oil: The Case of Germany
Document Type
Article
Publication Date
12-1-2002
Publication Title
International Review of Economics and Business
Abstract
This study empirically investigates whether the assumption of the monetary authority in pre-2000 Germany that rising prices of imported crude oil would lead to domestic inflation in Germany had validity. In a model where unemployment rate changes, money stock growth, and wage growth are all allowed for, OLS estimation reveals that although the inflation rate in Germany typically is not sensitive to increasing prices on imported crude oil, crude oil price "shocks" of 50 percent or more during any calendar year have in the past led to significant domestic inflation for the German economy.
Recommended Citation
Cebula, Richard, Yassaman Saadatmand, Yvonne Piccone.
2002.
"An Empirical Note on the Inflation Impact of the Price of Imported Crude Oil: The Case of Germany."
International Review of Economics and Business, 49 (4): 531-537.
https://digitalcommons.georgiasouthern.edu/economics-facpubs/51
Copyright
This work is archived and distributed under the repository's Standard Copyright and Reuse License (opens in new tab). End users may copy, store, and distribute this work without restriction. For all other uses, permission must be obtained from the copyright owners or their authorized agents.
