The effects of oil prices on the price indices in Taiwan: International or domestic oil prices matter?

Huang, Wen‐Nan; Chao, Ming-Che

doi:10.1016/j.enpol.2012.03.035

Cited by 14 publications

(9 citation statements)

References 31 publications

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“…Furthermore, there is a non-linear adjustment between oil price changes and price indices. The present study reveals that domestic oil price shocks Granger cause domestic inflation and this result is contradictory to the finding by Huang and Chao (2012) who find that international oil price plays more important role than domestic oil price on price indices. Even though oil price uncertainty does not affect inflation, inflation itself positive causes inflation uncertainty, which supports Friedman (1977) hypothesis.…”

Section: Discussioncontrasting

confidence: 56%

“…De Gregono and Lanerretche (2007) find that the pass-through decline because of the fall in energy intensity while Chen (2009) indicates that a decline in the pass-through is due to a higher trade openness. Huang and Chao (2012) examine the effects of international and domestic oil prices on the price indices in Taiwan using monthly data from January 1999 to December 2011. They find that changes in international oil prices have more crucial impacts on the price indices than changes in domestic oil prices.…”

Section: Introductionmentioning

confidence: 99%

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Oil Price Shocks and Domestic Inflation in Thailand

Jiranyakul

2015

SSRN Journal

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This paper employ monthly data to examine the empirical relationship between oil price shocks and domestic inflation rate during 1993 and 2013. The results show that oil price, domestic or international, does not have the long-run impact on consumer prices. However, oil price shocks cause inflation to increase while oil price uncertainty does not cause an increase in inflation. Furthermore, inflation itself causes inflation uncertainty. The findings of this study encourage the monetary authorities to formulate a more accommodative policy to respond to oil price shocks.

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Section: Discussioncontrasting

confidence: 56%

Section: Introductionmentioning

confidence: 99%

Oil Price Shocks and Domestic Inflation in Thailand

Jiranyakul

2015

SSRN Journal

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“…The finding that international oil price exerts stronger impact on price indexes than domestic oil price does is found by Huang and Chao (2012). On the contrary, Cunado and de Gracia (2005) find that the short-run impact of oil price changes on changes in price index is more pronounced for domestic oil price than international oil price.…”

Section: Introductionmentioning

confidence: 92%

Crude Oil Price Changes and Inflation: Evidence for Asia and the Pacific Economies

Jiranyakul

2021

SSRN Journal

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This paper examines the influence of crude oil price on inflation in seven Asian and two of the pacific economies. The period of investigation is from 1987M5 to 2019M12. The results of cointegration tests reveal that there is stable positive long-run relationship between consumer price index and crude oil price in these countries. In the short run, there is unidirectional causality running from crude oil price change to inflation in most cases. The findings suggest accommodative monetary policy measures to combat high inflation rate.

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“…Cunado and de Gracia (2005) report that oil prices lead to a more inflationary effect on consumer price as oil prices are measured in domestic currencies for some Asian countries. Huang and Chao, (2012) using the multivariate threshold in Taiwan finds that the domestic oil prices do not increase the consumer price indices as the oil price is above the threshold level. World oil price, however, affects the wholesale price index.…”

Section: Literature Reviewsmentioning

confidence: 99%

“…Many previous empirical studies also have examined the impact of world oil price on the domestic price for developing countries and emerging market such as Cunado and de Gracia (2005), Huang and Chao, (2012), Long and Liang (2018), among the others. Cunado and de Gracia (2005) report that oil prices lead to a more inflationary effect on consumer price as oil prices are measured in domestic currencies for some Asian countries.…”

Section: Literature Reviewsmentioning

confidence: 99%

Asymmetric Oil Price Pass-Through to Disaggregate Consumer Prices in Emerging Market: Evidence From Indonesia

Widarjono

Hakim²

2019

IJEEP

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This paper investigates the inflationary asymmetric effect of oil prices to disaggregate consumer prices for Indonesia using Non-linear Autoregressive Distributed Lag model. Our study affirms that the long-run relationship exists between oil prices and the Consumer price index (CPI) as aggregate consumer price and its all sub-components. With the exception of the education price index, our results report the asymmetric impact of oil price pass-through (OPPT)) on all sub-components of CPI. Incomplete degree of OPPT is found but varied among sub-components of CPI and is attributed to energy-related goods and services. The highest degree of OPPT is foodstuffs price index, followed by the transportation price index. We also find the positive degree of OPPT is greater than the negative degree of oil price oil pass-through to disaggregate consumer price.

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The effects of oil prices on the price indices in Taiwan: International or domestic oil prices matter?

Cited by 14 publications

References 31 publications

Oil Price Shocks and Domestic Inflation in Thailand

Oil Price Shocks and Domestic Inflation in Thailand

Crude Oil Price Changes and Inflation: Evidence for Asia and the Pacific Economies

Asymmetric Oil Price Pass-Through to Disaggregate Consumer Prices in Emerging Market: Evidence From Indonesia

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