BIS Releases Research Paper on the Impact of Large Oil and Gas Discoveries on Inflation
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The Bank for International Settlements (BIS) has released a working paper that examines the impact of news about future output on current inflation in open economies. The study uses a sample of 1,309 large oil and gas discoveries across 79 economies from 1980 to 2019, selecting events with a production lag of at least five years as observable news shocks about future output. The paper notes that the inflation increase resulting from such large oil and gas discoveries primarily occurs in economies with inflexible exchange rate regimes, while the inflation effect is essentially absent under flexible exchange rate systems.
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- Bank for International Settlements BIS: Research papersBIS Working Paper: The Impact of Large Oil and Gas Discoveries as Future Output News Shocks on Inflation in Open Economies
The Bank for International Settlements (BIS) released a working paper that studies the impact of news about future output on current inflation in open economies, using a sample of 1,309 large oil and gas discoveries across 79 economies from 1980 to 2019, selecting events with a production lag of at least five years as observable future output news shocks.
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