Grassi, Stefano; Ravazzolo, Francesco; Vespignani, Joaquin - 2023
-energy commodities prices. An increase in the global money supply for energy commodity prices results mostly in demand-pull inflation …. However, for non-energy commodity prices, an increase in global money supply results in demand-pull inflation and cost …-push inflation, as energy is a critical input for non-energy commodities. We introduce a Markov Switching framework with time …