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Oil Imports And Inflation: An Empirical International Analysis Of The ‘Imported’ Inflation Thesis

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  • J. Cebula Richard
  • Frewer Michael

Abstract

This paper examines the effects of rising oil prices and dependence upon imported oil on inflation. For the United States, Japan, the Federal Republic of Germany, Sweden, the United Kingdom, and Australia, it is found that the price of imported oil is a significant cause of inflation. Dependence upon imported oil also is an important cause of inflation in Japan, the United States, and West Germany. Dicser Artikcl untersucht die Auswirkungen, die die steigenden ölpreise und die Abhängigkeit von öleinfuhren auf die Inflation haben. Es stellte sich heraus, dass der Prcis dcs eirigeführten öls eine wichtige Ursache der Inflation in den Vcreinigten Staaten, Japan, Bundesrepublik Deutschland, Schweden, England und Australicn ist. Abhängigkeit von öleinfuhren ist ebenfalls eine wichtige Ursache dcr Inflation in Japan, den Vereinigten Staaten und der Bundesrepublik Deutschland. Ce rapport examine les effets de l'augmentation des prix du pétrole et les répercussions qu'entrainent celle‐ci sur l'inflation. Pour les Etats‐Unis, le Japan, la République fédérale d'Allemagne, la Suède, l'Angleterre et l'Australie, il en résidle que le prix du pétrole importé est une cause importante de l'inflation. L'inflation croissants au Japan, aux Etats‐Unis et en Allemagne de l'Ouest est due cllc aussi, a ce mȩme besoin de pétrole importé.

Suggested Citation

  • J. Cebula Richard & Frewer Michael, 1980. "Oil Imports And Inflation: An Empirical International Analysis Of The ‘Imported’ Inflation Thesis," Kyklos, Wiley Blackwell, vol. 33(4), pages 615-622, November.
  • Handle: RePEc:bla:kyklos:v:33:y:1980:i:4:p:615-622
    DOI: 10.1111/j.1467-6435.1980.tb00716.x
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    Cited by:

    1. Miriam Kamah & Joshua S. Riti, 2020. "Dissecting the Linkages between Variations in Crude Oil Price and Selected Macroeconomic Variables in Nigeria," Journal of Contemporary Research in Business, Economics and Finance, Michael Laurence, vol. 2(2), pages 37-46.
    2. Robert A. Mcguire & Elliott S. Willman, 1999. "Textbook Explanations of Inflation in the 1970s," Public Finance Review, , vol. 27(1), pages 52-76, January.
    3. Ahmed, Khalid & Bhutto, Niaz Ahmed & Kalhoro, Muhammad Ramzan, 2019. "Decomposing the links between oil price shocks and macroeconomic indicators: Evidence from SAARC region," Resources Policy, Elsevier, vol. 61(C), pages 423-432.
    4. Syed Jaffar Abbas & Noman Arshed, 2023. "Examining Determinants of Regional Inflation Heterogeneity — A Robust Panel Data Analysis," SAGE Open, , vol. 13(4), pages 21582440231, December.

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