Ha, Jongrim; Kose, M. Ayhan; Ohnsorge, Franziska; … - 2023 - This version: December 2023
consumer price index (CPI) inflation in G7 countries, over the past half-century. We estimate a Factor-Augmented Vector … Autoregression model where a wide range of shocks, including global demand, supply, oil price, and interest rate shocks, are … report three main results. First, oil price shocks followed by global demand shocks explained the lion's share of variation …