Are Oil Shocks Inflationary?: Asymmetric and Nonlinear Specifications Versus Changes in RegimeDivisions of Research & Statistics and Monetary Affairs, Federal Reserve Board, 1999 - Petroleum products - 20 pages |
Common terms and phrases
12 lags addition to variables adjusted Andrews test Anne Wilson asymmetric and nonlinear breakpoint capacity utilization coefficients on oil columns 1-3 columns 4-6 core CPI core equation core inflation equation crude oil relative different from zero Durbin-Watson statistic Economics Discussion Series effects of oil energy price equal and opposite error bands estimates F-statistics federal funds rate Federal Reserve Board Finance and Economics Fuhrer GDP deflator Hamilton Hooker increases and decreases inflation in addition inflation measure interaction terms sum lags of inflation Louise Sheiner macroeconomic monetary policy Mork Mork's Oil Price NAIRU oil price changes oil price coefficients oil price increases oil price shocks oil price terms Output Gap p-values in columns Phillips curves PPI for crude price and interaction price index quarters since shock real effects Response of Funds responses to oil robust September 1999 standard error structurally stable sum to zero term and 12 unemployment rate