How inflationary are oil price shocks? A regional analysis
Christensson, Jon(2009) . How Inflationary are Oil Price Shocks? A Regional Analysis . In Proceedings: 5th Annual Symposium: Graduate Research and Scholarly Projects. Wichita, KS: Wichita State University, p. 22-23
The impact of oil shocks is analyzed by estimating an augmented Phillips curve on a national, regional and city level in the United States. A significant pass-through to inflation (including all items) is recorded for all regions, while core inflation remains largely muted. The West region has experienced a much lower pass-through than other regions and a few reasons for this are; greater oil efficiency, lower inflation variability and a lower exchange rate pass-through in the West. Also noted is an increasing trend for pass-through to inflation since the late 1980's, and the contrary was found for core inflation.
Paper presented to the 5th Annual Symposium on Graduate Research and Scholarly Projects (GRASP) held at the Hughes Metropolitan Complex, Wichita State University, May 1, 2009.
Research completed at the Department of Economics. W. Frank Barton School of Business