The Pandemic Waves' Impact on the Crude Oil Price and the Rise of Consumer Price Index: Case Study for Six European Countries
Sustainability
; 15(8):6537, 2023.
Article
Dans Anglais
| ProQuest Central | ID: covidwho-2293686
ABSTRACT
This study examines the response of the Consumer Price Index (CPI) in local currency to the COVID-19 pandemic using monthly data (March 2020–February 2022), comparatively for six European countries. We have introduced a model of multivariate adaptive regression that considers the quasi-periodic effects of pandemic waves in combination with the global effect of the economic shock to model the variation in the price of crude oil at international levels and to compare the induced effect of the pandemic restriction as well and the oil price variation on each country's CPI. The model was tested for the case of six emergent countries and developed European countries. The findings show that (i) pandemic restrictions are driving a sharp rise in the CPI, and consequently inflation, in most European countries except Greece and Spain, and (ii) the emergent economies are more affected by the oil price and pandemic restriction than the developed ones.
Environmental Studies; Consumer Price Index; non-linear regression model; post-pandemic effects; petroleum prices; OPEC basket; Pandemics; Gasoline prices; Futures; Regression analysis; Crude oil; Regression models; Consumer goods; Economic models; COVID-19; Phillips curve; Crude oil prices; Growth models; Local currencies; Coronaviruses; Oil; Greece; Romania; Europe; Slovenia; Lithuania; Germany; Spain
Texte intégral:
Disponible
Collection:
Bases de données des oragnisations internationales
Base de données:
ProQuest Central
Type d'étude:
Rapport de cas
/
Études expérimentales
langue:
Anglais
Revue:
Sustainability
Année:
2023
Type de document:
Article
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