The impact of oil price changes on Spanish and euro area consumer price inflation
Samuel Hurtado (),
Isabel Sánchez and
Carlos Thomas ()
Economic Modelling, 2011, vol. 28, issue 1-2, 422-431
This paper assesses the impact of oil price changes on Spanish and euro area consumer price inflation. We find that the inflationary effect of oil price changes in both economies is limited, even though crude oil price fluctuations are a major driver of inflation variability. The impact on Spanish inflation is found to be somewhat higher than in the euro area. In both economies, direct effects have increased in the last decade, reflecting the higher expenditure share of households on refined oil products, whereas indirect and second-round effects seem to be losing importance.
Keywords: Oil; prices; Consumer; price; inflation; Spanish; and; euro; area; inflation; DSGE; models (search for similar items in EconPapers)
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Journal Article: The impact of oil price changes on Spanish and euro area consumer price inflation (2011)
Working Paper: The impact of oil price changes on Spanish and euro area consumer price inflation (2009)
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Persistent link: https://EconPapers.repec.org/RePEc:eee:ecmode:v:28:y:2011:i:1-2:p:422-431
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