Oil Prices Pass-Through to Domestic Inflation: Symmetric Versus Asymmetric Pass-Through
Israa Ali Mahmoud Ali,
Hebatallah Ghoneim,
Werner Smolny
Abstract:This paper analyses the world oil price pass-through to Egypt’s domestic inflation rate. The paper adopts the augmented Phillips curve framework and further extends it to consider the growing body of empirical evidence, suggesting that oil prices may have asymmetric effects on inflation. Accordingly, the paper examines and compares the symmetric and the asymmetric oil price pass-through to domestic inflation in the short run and the long run. A linear ARDL-ECM and the bounds cointegration tests are applied as … Show more
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