In this paper we use the frequency domain Granger causality test of Breitung/Candelon (2006) to analyse short and long-run causality between energy prices and prices of food commodities. We find that the oil price Granger causes all the considered food prices. However, when controlling for...

This article examines the effect of inflation expectation uncertainty on inflation, inflation expectations and the output gap. For monetary policy, guiding inflation expectations provides an instrument to affect economic conditions. However, expectation uncertainty may undermine monetary...