Ligia Topan, César Castro, Miguel Jerez, Andrés Barge-Gil
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Oil price pass-through into inflation in Spain at national and regional level.
Oil price showed sharp fluctuations in recent years which revived the interest in its effect on inflation. In this paper, we discuss the relationship between oil price and inflation in Spain, at national and regional levels, and making the distinction between energy and non-energy inflation. To this end, we fit econometric models to measure the effect of oil price shocks on inflation and to predict them under different scenarios. Our results show that almost half of the volatility of changes in total inflation is explained by changes in oil price. As could be expected, the energy component of inflation drives this effect. We also find that, under the most likely scenarios, 1-year ahead total inflation will be moderate, with relevant differences across regions.
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SERIEs is a single-blind peer-reviewed open access journal. In the Journal Citation Reports (JCR) the impact factor of the journal in 2020 is 1.088 and, in Scopus, we are in the top quartile according to Scimago Journal Ranking and the CiteScores.
SERIEs - Journal of the Spanish Economic Association is the result of a merger between the two most important academic economics journals in Spain: Spanish Economic Review (SER) and Investigaciones Económicas (IE). The new journal publishes scientific articles in all areas of economics. We welcome both theoretical and empirical papers and place great value on applying high quality standards.
SERIEs seeks to maintain the reputation gained by its predecessors as the most prominent economics journals in Spain, and to become a major internationally recognized journal. The journal is receptive to high-quality papers on any topic and from any source. At the same time, as official journal of the Spanish Economic Association, SERIEs is very interested in high-quality empirical papers about the Spanish and the European economy.
The publication costs are covered by Spanish Economic Association so authors do not need to pay an article-processing charge.
The journal operates a single-blind peer-review system, where the reviewers are aware of the names and affiliations of the authors, but the reviewer reports provided to authors are anonymous.
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Officially cited as: SERIEs-Journal of the Spanish Economic Association
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