Template-type: ReDIF-Paper 1.0
Author-Name: Ligia Topan
Author-Workplace-Name: Instituto Complutense de Análisis Económico. Universidad Complutense de Madrid
Author-Name: Miguel Jerez
Author-Workplace-Name: Instituto Complutense de Análisis Económico. Universidad Complutense de Madrid
Author-Name: Sonia Sotoca
Author-Workplace-Name: Instituto Complutense de Análisis Económico. Universidad Complutense de Madrid
Title: The impact of oil prices on products groups inflation: is the effect asymmetric?
Abstract: In this paper we assess the oil price pass-through into both, the global inflation in Spain and the inflation derived from the 
	non-deterministic prices of the standard European classification of product groups, during the period 2002-2018. To this end we fit a 
	transfer function to inflation in each group, extended to allow for an asymmetry in the transmission of positive/negative oil cost 
	shocks, that is, a “rockets and feathers effect”. Our results show that most often there is a significant asymmetry, which can be 
	explained by the degree of competition in each market.
Keywords: Oil price; Products groups inflation; Asymmetric effects; Transfer function.
Length: 24 pages
Creation-Date: 2020-02
Number: 2020-01
X-File-Ref: http://america.sim.ucm.es/repec/ucm/ref/doicae2001.txt
File-URL: https://eprints.ucm.es/id/eprint/59973/1/Doc.%202002.pdf
File-Format: Application/pdf
Handle: RePEc:ucm:doicae:2001