On the relationship of country geopolitical risk on energy inflation

Cristina Amado (), Ignacio Garrón and Helena Veiga
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Cristina Amado: NIPE/Centre for Research in Economics and Management, University of Minho, Portugal
Ignacio Garrón: Department of Statistics, Universidad Carlos III de Madrid, Spain
Helena Veiga: Department of Statistics and Instituto Flores de Lemus, Universidad Carlos III de Madrid, Spain, and BRU-IUL, Portugal

No 1/2024, NIPE Working Papers from NIPE - Universidade do Minho

Abstract: This paper addresses the effect of country geopolitical risk on energy inflation by employing a methodology that combines fixed effects panel quantile regressions and local projections. The panel covers country-level indicators for 16 OECD countriesfrom January 1990 to December 2022. Results show that adverse country-specific geopolitical events are associated with upside risks on energy inflation whereas the analysis reveals insignificant effects for both the median and left tail of energy inflation distribution.

Keywords: Geopolitical risk; Energy inflation; Fixed effects; Panel data; Quantile regression. (search for similar items in EconPapers)
JEL-codes: C22 C23 E31 Q40 (search for similar items in EconPapers)
Date: 2024
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