Inflation Is Still A Monetary Phenomenon: A Wavelet Analysis of Inflation, Oil Prices and Money Supply

Mahmoud El-Gamal

Applied Economics Letters, 2024, vol. 31, issue 2, 164-169

Abstract: I revisit the old debate on the role of ‘oil price shocks’ in stoking inflation using wavelet coherency of oil and overall price inflation as well as partial coherency of the same given changes in real money supply. While exogenous shocks can influence the nature of short-term inflation fluctuations, I find support for inflation in early 2022 being a lagged demand-driven response to massive monetary growth in 2020.

Date: 2024
References: Add references at CitEc
Citations:

Downloads: (external link)
http://hdl.handle.net/10.1080/13504851.2022.2129040 (text/html)
Access to full text is restricted to subscribers.

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:taf:apeclt:v:31:y:2024:i:2:p:164-169

Ordering information: This journal article can be ordered from
http://www.tandfonline.com/pricing/journal/RAEL20

DOI: 10.1080/13504851.2022.2129040

Access Statistics for this article

Applied Economics Letters is currently edited by Anita Phillips

More articles in Applied Economics Letters from Taylor & Francis Journals
Bibliographic data for series maintained by Chris Longhurst ().