%0 Report
%A Topan, Ligia Elena
%A Jerez Méndez, Miguel
%A Sotoca López, Sonia
%T The impact of oil prices on products groups inflation: is the effect asymmetric?
%J Documentos de Trabajo del Instituto Complutense de Análisis Económico (ICAE)
%D 2020
%@ 2341-2356
%U https://hdl.handle.net/20.500.14352/11812
%X In this paper we assess the oil price pass-through into both, the global inflation in Spain and the inflation derived from the non-deterministic prices of the standard European classification of product groups, during the period 2002-2018. To this end we fit a transfer function to inflation in each group, extended to allow for an asymmetry in the transmission of positive/negative oil cost shocks, that is, a “rockets and feathers effect”. Our results show that most often there is a significant asymmetry, which can be explained by the degree of competition in each market.
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