Does the inflation pass-through of gasoline price shocks depend on the level of inflation?
研究发现，当通胀水平较高时，汽油价格冲击对通胀预期以及实际通胀的传导效应更强，历史上通胀预期显著受汽油价格影响的时期主要发生在高通胀阶段。
I show that the pass-through of gasoline price shocks to inflation expectations and to a lesser extent realized inflation is larger if inflation is high. Pronounced historical contributions to inflation expectations mainly occurred in highly inflationary periods.