The Distributional Implications of the Impact of Fuel Price Increases on Inflation PDF Download
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Author: Mr. Kangni R Kpodar
Publisher: International Monetary Fund
ISBN: 1616356154
Category : Business & Economics
Languages : en
Pages : 34
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Book Description
This paper investigates the response of consumer price inflation to changes in domestic fuel prices, looking at the different categories of the overall consumer price index (CPI). We then combine household survey data with the CPI components to construct a CPI index for the poorest and richest income quintiles with the view to assess the distributional impact of the pass-through. To undertake this analysis, the paper provides an update to the Global Monthly Retail Fuel Price Database, expanding the product coverage to premium and regular fuels, the time dimension to December 2020, and the sample to 190 countries. Three key findings stand out. First, the response of inflation to gasoline price shocks is smaller, but more persistent and broad-based in developing economies than in advanced economies. Second, we show that past studies using crude oil prices instead of retail fuel prices to estimate the pass-through to inflation significantly underestimate it. Third, while the purchasing power of all households declines as fuel prices increase, the distributional impact is progressive. But the progressivity phases out within 6 months after the shock in advanced economies, whereas it persists beyond a year in developing countries.
Author: Mr. Kangni R Kpodar
Publisher: International Monetary Fund
ISBN: 1616356154
Category : Business & Economics
Languages : en
Pages : 34
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Book Description
This paper investigates the response of consumer price inflation to changes in domestic fuel prices, looking at the different categories of the overall consumer price index (CPI). We then combine household survey data with the CPI components to construct a CPI index for the poorest and richest income quintiles with the view to assess the distributional impact of the pass-through. To undertake this analysis, the paper provides an update to the Global Monthly Retail Fuel Price Database, expanding the product coverage to premium and regular fuels, the time dimension to December 2020, and the sample to 190 countries. Three key findings stand out. First, the response of inflation to gasoline price shocks is smaller, but more persistent and broad-based in developing economies than in advanced economies. Second, we show that past studies using crude oil prices instead of retail fuel prices to estimate the pass-through to inflation significantly underestimate it. Third, while the purchasing power of all households declines as fuel prices increase, the distributional impact is progressive. But the progressivity phases out within 6 months after the shock in advanced economies, whereas it persists beyond a year in developing countries.
Author:
Publisher: DIANE Publishing
ISBN: 1428950044
Category : Gasoline
Languages : en
Pages : 166
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Book Description
Author: United States. Congress. Senate. Committee on Energy and Natural Resources. Subcommittee on Energy Regulation
Publisher:
ISBN:
Category : Gasoline
Languages : en
Pages : 178
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Book Description
Author:
Publisher: DIANE Publishing
ISBN: 1428972285
Category :
Languages : en
Pages : 32
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Book Description
Author: Christopher Steiner
Publisher: Grand Central Publishing
ISBN: 0446562025
Category : Social Science
Languages : en
Pages : 184
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Book Description
An extraordinarily insightful and thought-provoking look at how our society and culture are going to change, and change rapidly, as the price of gasoline, heating oil, and all other everyday consumer products that are derived from oil continue to escalate. Imagine an everyday world in which the price of gasoline (and oil) continues to go up, and up, and up. Think about the immediate impact that would have on our lives. Of course, everybody already knows how about gasoline has affected our driving habits. People can't wait to junk their gas-guzzling SUVs for a new Prius. But there are more, not-so-obvious changes on the horizon that Chris Steiner tracks brilliantly in this provocative work. Consider the following societal changes: people who own homes in far-off suburbs will soon realize that there's no longer any market for their houses (reason: nobody wants to live too far away because it's too expensive to commute to work). Telecommuting will begin to expand rapidly. Trains will become the mode of national transportation (as it used to be) as the price of flying becomes prohibitive. Families will begin to migrate southward as the price of heating northern homes in the winter is too pricey. Cheap everyday items that are comprised of plastic will go away because of the rising price to produce them (plastic is derived from oil). And this is just the beginning of a huge and overwhelming domino effect that our way of life will undergo in the years to come. Steiner, an engineer by training before turning to journalism, sees how this simple but constant rise in oil and gas prices will totally re-structure our lifestyle. But what may be surprising to readers is that all of these changes may not be negative - but actually will usher in some new and very promising aspects of our society. Steiner will probe how the liberation of technology and innovation, triggered by climbing gas prices, will change our lives. The book may start as an alarmist's exercise.... but don't be misled. The future will be exhilarating.
Author: United States. Congress. Senate. Committee on Energy and Natural Resources
Publisher:
ISBN:
Category : Gasoline
Languages : en
Pages : 148
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Book Description
Author: Mr.David Coady
Publisher: International Monetary Fund
ISBN: 1475571194
Category : Business & Economics
Languages : en
Pages : 23
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Book Description
Many developing and emerging countries do not fully pass-through increases in international fuel prices to domestic retail prices, with adverse consequences for fuel tax revenues and tax volatility. The adoption of an automatic fuel pricing mechanism can help to address this problem, and the incorporation of a price smoothing mechanism can ensure pass-through over the medium term but also avoid sharp increases (and decreases) in domestic prices. This technical note addresses the following issues: (i) the design of an automatic fuel pricing mechanism; (ii) the incorporation of domestic price smoothing and resulting tradeoffs; (iii) the transition from ad hoc pricing adjustments to an automatic mechanism; and (iv) policies to support this transition and the maintenance of an automatic mechanism. A standardized template for simulating and evaluating the implications of alternative pricing mechanisms for price and fiscal volatility is available on request.
Author: United States. General Accounting Office
Publisher:
ISBN:
Category : Consumer protection
Languages : en
Pages : 36
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Book Description
Author: United States. Congress. Senate. Committee on Governmental Affairs. Permanent Subcommittee on Investigations
Publisher:
ISBN:
Category : Business & Economics
Languages : en
Pages : 728
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Book Description
Author: Frank H. Murkowski
Publisher: DIANE Publishing
ISBN: 0756700418
Category :
Languages : en
Pages : 125
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Book Description
Witnesses: Sen. Evan Bayh, Jeff Bingaman, Conrad Burns, Kent Conrad, Pete Domenici, Byron Dorgan, Peter Fitzgerald, Kay Bailey Hutchison, Tim Johnson, Mary Landrieu, Blanche Lincoln, Trent Lott, Frank Murkowski, Don Pickles, and Craig Thomas; Danny Biggs, Nat. Stripper Well Assoc.; Jonathan Cuneo, Amer. Antitrust Inst.; Gary Fonay, Lynx Petrol., Hobbs, NM; Dewey Bartlett, Jr., Keener Oil and Gas Co.; Jay Hakes, Energy Info. Admin., DoE; Steve Layton, Indep. Petrol. Assoc. of Amer.; John Lichtblau, Petrol. Ind. Res. Fdn.; Robert Palmer, Rowan Co., Inc.; L. R. Raymond, Exxon Corp.; and Ed Schafer, Gov., N.D, and Interstate Oil and Gas Compact Comm.
