Updated Evidence on the Impact of the Real Price of Crude Oil on Domestic Inflation in the U.S., 1965-2012: A Brief Empirical Note - Evidenze attuali dell’impatto del prezzo del petrolio grezzo sull’inflazione interna negli USA nel periodo 1965-2012: breve nota empirica

Richard Cebula (), Maggie Foley () and Matthew Smith
Additional contact information
Matthew Smith: Vacation Rental Pros Real Estate LLC, Postal: Jacksonville, Florida, USA

Economia Internazionale / International Economics, 2014, vol. 67, issue 4, 449-455

Abstract: This empirical note provides updated empirical evidence regarding whether a higher inflation rate of real prices on crude oil and whether real oil price shocks led to higher domestic inflation in the U.S. over the 1965-2012 period. Using autoregressive two stage least squares estimation, the analysis finds preliminary evidence that the domestic inflation rate over this study period is an increasing function not only of the inflation rate of real crude oil prices in the U.S. but also of real oil price shocks. - Con questa nota si forniscono evidenze empiriche aggiornate sulla questione riguardante gli effetti inflazionistici di un aumento dei prezzi reali del petrolio negli USA nel periodo 1965-2012. Tramite stime autoregressive dei minimi quadrati a due stadi, l’analisi mostra evidenze che il tasso d’inflazione interna negli USA, relativamente a questo periodo, è funzione crescente sia del tasso di inflazione sia degli shock dei prezzi del greggio.

Keywords: Inflation; Crude Oil Prices; Expected Inflation; Federal Reserve Policy (search for similar items in EconPapers)
JEL-codes: E31 E32 Q56 (search for similar items in EconPapers)
Date: 2014
References: Add references at CitEc
Citations:

Downloads: (external link)
http://www.iei1946.it/RePEc/ccg/CEBULA%20ET%20AL_449-455.pdf Full text (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:ris:ecoint:0730

Access Statistics for this article

Economia Internazionale / International Economics is currently edited by Giovanni Battista Pittaluga

More articles in Economia Internazionale / International Economics from Camera di Commercio Industria Artigianato Agricoltura di Genova Via Garibaldi 4, 16124 Genova, Italy. Contact information at EDIRC.
Bibliographic data for series maintained by Angela Procopio ().