Central European Business Review Vol. 8 No. 5

Assessment of the Impact of Hard Commodity Prices Changes on Inflation in European Union Countries

DOI: https://doi.org/10.18267/j.cebr.230

[plný text (PDF)]

Indrė Lapinskaitė, Algita Miečinskienė

N/A

JEL klasifikace: A10, E3, E31, M21, N50, N54, Q02

Reference:
ABC News (2017). Wool back in fashion, pushing prices to record highs. Retrieved September 30, 2019, from http://www.abc.net.au/news/2017-01-18/wool-back-in-fashion-pushing-prices-towards-record-highs/8191458.

Aftab, S., Yaseen, M. R., & Anwar, S. (2017). Impact of rising food prices on consumer welfare in the most populous countries of South Asia. International Journal of Social economics, 44(8), 1062-1077.

Aiube, F. A. L. (2019). On the Brazilian fuel pricing policy: a Gaussian factor model approach. Applied Economics, 1-12. https://doi.org/10.1080/00036846.2019.1659929.

Awokuse, T., & Yang, J. (2003). The Informational Role of Commodity Prices in Formulating Monetary Policy: A Reexamination. Economics Letters, 79(2), 219-224.

Bloomberg (2019). Natural Gas Prices are on a Tear. Retrieved October 2, 2019, from https://www.bloomberg.com/view/articles/2017-11-13/natural-gas-prices-are-on-a-tear.

Bloomberg, S. B., & Harris, E. S. (1995). The Commodity-consumer Prices Connection: Fact or Fable? Economic Policy Review, 1(3), 21-38.

Bouchaud, J. P., Gualdi, S., Tarzia, M., & Zamponi, F. (2017). Optimal Inflation Target: Insights from an Agent-based Model. Economics: the Open Access Open-Assessment E-Journal, 12(2018-15), 1-27.

Cecchetti, S. G., & Moessner. R. (2008). Commodity Prices and Inflation Dynamics. BIS Quarterly Review. Retrieved from https://www.bis.org/publ/qtrpdf/r_qt0812f.htm.

Cekin, S. E. (2018). Inflation Targeting, Fiscal Policy, and the Exchange Rate Regime. Emerging Markets Finance & Trade, 54(9), 2093-2116.

Chen, Y., Qu, F., Li, W., & Chen, M. (2019). Volatility Spillover and Dynamic Correlation Between the Carbon Market and Energy Markets. Journal of business economics and management, 20(5), 979-999.

Chen, Z., & Bolandifar, E. (2018). Hedging through Index-based Price Contracts in Commodity-based Supply Chains. Omega. doi: https://doi.org/10.1016/j.omega.2018.10.006

Chiaie, S. D., Ferrara, L., & Giannone D. (2017). Common factors of commodity prices (European Central Bank Working paper series). Retrieved from https://www.ecb.europa.eu/pub/pdf/scpwps/ecb.wp2112.en.pdf?b5182c4253e738608925a443ebcdd409

Ciner, C. (2011). Commodity prices and inflation: Testing in the frequency domain. Research in International Business and Finance, 25(3), 229-237.

Cogoljevic, D., Gavrilovic, M., Roganovic, M., Matic, I., & Piljana, I. (2018). Analyzing of consumer price index influence on inflation by multiple linear regression. Physica A: Statistical Mechanics and its Applications, 505, 941-944.

De Gregorio, J., Landerretche, O., & Neilson, C. (2007). Another Pass-Through Bites the Dust? Oil Prices and Inflation. (Central Bank of Chile Working Papers No. 417). Retrieved from http://si2.bcentral.cl/public/pdf/documentos-trabajo/pdf/dtbc417.pdf.

EIA (2019a). Crude oil prices started 2015 relatively low, ended the year lower. Retrieved October 4, 2019, from https://www.eia.gov/todayinenergy/detail.php?id=24432.

EIA (2019b). Crude oil prices increased in 2017, and Brent-WTI spread widened. Retrieved October 4, 2019, from https://www.eia.gov/todayinenergy/detail.php?id=34372.

Eurostat (2019). HICP - inflation rate. Retrieved August 24, 2019, from https://ec.europa.eu/eurostat/tgm/table.do?tab=table&init=1〈uage=en&pcode=tec00118&plugin=1

Financial Times (2019). US oil Price Hits 2014 High Above 100$. Retrieved October 2, 2019, from http://www.ft.com/cms/s/0/5bb450f6-9281-11e3-9e43-00144feab7de.html#axzz33qo5pU85.

Fisher, B., & Kumar, A. (2010). The right way to hedge. Retrieved from http://www.mckinsey.com/ business-functions/strategy-and-corporate-finance/our-insights/the-right-way-to-hedge.

Frankel, J. A. (2006). The effect of monetary policy on real commodity prices (National Bureau of Economic Research Working Paper No. 12713). Retrieved from https://www.nber.org/papers/w12713.

Fuller, B. (2019). Aluminum MMI: Aluminum Prices Decline While Monthly Index Gains 2.3%. Retrieved September 18, 2019, from https://agmetalminer.com/2019/03/07/aluminum-mmi-aluminum-prices-decline-while-monthly-index-gains-2-3/

Furlong, F., & Ingenito, R. (1996). Commodity prices and inflation. FRBSF Economic Review, 2, 27-46.

Gaudenzi B. & Bucciol, A. (2016). Jet fuel price variations and market value: a focus on low-cost and regular airline companies. Journal of Business Economics and Management, 17(6), 977-991.

Gerdesmeier, D. (2009). Stability of Prices: Why is that importantly for you? Retrieved from https://www.ecb.europa.eu/pub/pdf/other/whypricestability_en.pdf.

Ghoshray, A., Kejriwal, M., & Wohar, M. E. (2014). Breaks, trends and unit roots in commodity prices: a robust investigation. Studies in Nonlinear Dynamics & Econometrics, 18(1), 23-40.

Grybaitė, V., & Stankevičienė. J. (2018). An empirical analysis of factors affecting sharing economy growth. Oeconomia Copernicana, 9(4), 635-654.

Index Mundi (2019a). Aluminum. Retrieved August 25, 2019, from http://www.indexmundi.com/commodities/?commodity=aluminum&months=60.

Index Mundi (2019b). Copper. Retrieved August 25, 2019, from http://www.indexmundi.com/commodities/?commodity=copper&months=60.

Index Mundi (2019c). Natural Gas. Retrieved August 25, 2019, from http://www.indexmundi.com/commodities/?commodity=natural-gas&months=60.

Index Mundi (2019d). Coal. Retrieved August 25, 2019, from http://www.indexmundi.com/commodities/?commodity=coal-australian&months=60.

Index Mundi (2019e). Crude Oil (petroleum). Retrieved August 25, 2019, from http://www.indexmundi.com/commodities/?commodity=crude-oil&months=60.

International Monetary Fund (2015). World Economic Outlook. Retrieved from file:///C:/Users/690/Downloads/_textpdf.pdf.

Koyfman, A. (2009). Aluminum Price Outlook. Retrieved September 6, 2019, from http://www.wealthdaily.com/articles/aluminum-price-outlook/2111.

Krichene, N. (2008). Recent Inflationary Trends in World Commodities Markets (IMF Working Paper No. WP/08/130). Retrieved from https://www.imf.org/external/pubs/ft/wp/2008/wp08130.pdf.

Kyrtsou, C., & Labys, W. C. (2006). Evidence for chaotic dependence between US inflation and commodity prices. Journal of Macroeconomics, 28(1), 256-266.

Lynch, M. (2019). What Happened to Oil Prices in 2018? Retrieved October 4, 2019, from https://www.forbes.com/sites/michaellynch/2019/01/02/what-happened-to-oil-prices-in-2018/#72d96b936d83

Malliaris, A. G. (2006). US inflation and commodity prices: Analytical and empirical Issues. Journal of Macroeconomics, 28(1), 267-271.

Martins, J. H. (2003). Minimum Living Level and Consumer Price Index: what's in a name? Development Southern Africa, 20(2), 197-212.

Masso, J., & Staeher K. (2005). Inflation dynamics and nominal adjustment in the Baltic States. Research in International Business and Finance, 19(2), 281-303.

Metal Miner (2017). 3 Reasons Why Aluminum Prices Will Rise in 2017. Retrieved August 28, 2019, from https://agmetalminer.com/2017/01/17/3-reasons-why-aluminum-prices-will-rise-in-2017.

Miečinskienė, A., & Lapinskaitė, I. (2014). The research on the impact of the changes of commodity price level in the world commodity exchanges on variation of general price level. Journal of Scientific Papers Economics & Sociology, 7(3), 71-88.

Miečinskienė, A., & Ževžikova, O. (2008). Price level changes of the key consumption product groups. In 5th international scientific conference "Business and management' 2008": selected papers. Vilnius, Lithuania.

Mining (2019). Copper to be best performing commodity of 2017 - analysts. Retrieved September 30, 2019, from http://www.mining.com/copper-best-performing-commodity-2017-analysts/.

Reuters (2008). Copper price volatility seen high in 2008/09 - CPM. Retrieved September 30, 2019, from http://www.reuters.com/article/2008/05/10/copper-conference-idUSN1065788520080510.

Reuters (2014). Thermal coal prices to drop further on oversupply. weak demand. Retrieved September 30, 2019, from http://in.reuters.com/article/2014/03/20/energy-coal-prices-idINL6N0MH30Y20140320.

Russell, C. (2017). Coal, a scarce commodity? Retrieved October 2, 2019, from http://www.thehindu.com/business/Industry/coal-a-scarce-commodity/article19944886.ece.

Saleuddin, R. & Coffman, DM. (2018) Can inflation expectations be measured using commodity futures prices? Structural Change and Economic Dynamics, 45, 37-48.

Schwarzer, J. A. (2018). Cost-Push and Demand-Pull Inflation: Milton Friedman and the "Cruel Dilemma". Journal of economic perspectives, 32(1), 195-210.

Sekine, A. & Tsuruga, T. (2018). Effects of Commodity Price Shocks on Inflation: A Cross Country Analysis. Understanding Persistent Deflation. Oxford Economic Papers, 70(4), 1108-1135.

Sinicakova, M. (2013). Transmission of inflation and economic growth in the euro area in the respect to a single monetary rule. Journal of Applied Economic Sciences, 8(4), 499-509.

Sinicakova, M., Sulikove, V., Horvath, J., Gazda, V., & Grof, M. (2011). Behaviour of inflation within V4 countries. International Research Journal of Finance and Economics, 70, 59-67.

Tully, E., & Lucey, B. M. (2007). A Power GARCH examination of the gold market. Research in International Business and Finance, 21(2), 316-325.

Verheyen, F. (2010). Monetary policy, commodity prices and inflation: Empirical evidence from the US (Ruhr Economic Papers #216). Retrieved https://www.econstor.eu/dspace/bitstream/10419/45303/1/655732020.pdf.

Yao, CZ., & Kuang, PC. (2019). A study of lead-lag structure between international crude oil price and several financial markets. Physica A: Statistical Mechanics and its Applications, 531. https://doi.org/10.1016/j.physa.2019.121755

Yellen, J. (2011, April 11). Commodity Prices, the Economic Outlook, and Monetary Policy. Retrieved from https://www.federalreserve.gov/newsevents/speech/yellen20110411a.htm.

Weby Vysoké školy ekonomické v Praze využívají pro optimalizaci svého obsahu a poskytovaných služeb cookies. Prosíme o udělení souhlasu s jejich uložením.

Vyberte služby, pro které chcete povolit využívání cookies: