Paper: Commodity e inflación

Do Commodity Price Spikes Cause Long-Term Inflation?

Abstract:

This public policy brief examines the relationship between trend inflation and commodity price
increases and finds that evidence from recent decades supports the notion that commodity price 
changes do not affect the long-run inflation rate. Evidence from earlier decades suggests that 
effects on inflation expectations and wages played a key role in whether commodity price 
movements altered trend inflation.  This brief  is based on a  memo  to the  president of the 
Federal Reserve Bank of Boston as background to a meeting of the Federal Open Market
Committee.
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