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On the relationship of country geopolitical risk on energy inflation

Author

Listed:
  • Cristina Amado

    (NIPE/Center for Research in Economics and Management, University of Minho, Portugal)

  • Ignacio Garrón

    (Department of Statistics, Universidad Carlos III de Madrid, Spain)

  • Helena Veiga

    (3Department of Statistics and Instituto Flores de Lemus, Universidad Carlos III de Madrid, Spain, and BRU-IUL, Portugal)

Abstract

This paper addresses the effect of country geopolitical risk on energy inflation byemploying a methodology that combines fixed effects panel quantile regressions and local projections. The panel covers country-level indicators for 16 OECD countriesfrom January 1990 to December 2022. Results show that adverse country-specific geopolitical events are associated with upside risks on energy inflation whereas the analysis reveals insignificant effects for both the median and left tail of energy inflation distribution.

Suggested Citation

  • Cristina Amado & Ignacio Garrón & Helena Veiga, 2024. "On the relationship of country geopolitical risk on energy inflation," NIPE Working Papers 1/2024, NIPE - Universidade do Minho.
    • Handle: RePEc:nip:nipewp:1/2024
    as

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    More about this item

    Keywords

    Geopolitical risk; Energy inflation; Fixed effects; Panel data; Quantile regression.;
    All these keywords.

    JEL classification:

    • C22 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Time-Series Models; Dynamic Quantile Regressions; Dynamic Treatment Effect Models; Diffusion Processes
    • C23 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Models with Panel Data; Spatio-temporal Models
    • E31 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Price Level; Inflation; Deflation
    • Q40 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy - - - General

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