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Review of World Economics

, Volume 120, Issue 3, pp 580–589 | Cite as

Petroleum prices, exchange rates, and domestic inflation in developing nations

  • Dominick Salvatore
Article

Keywords

Exchange Rate Money Supply Latin American Country Domestic Price Money Balance 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.

Zusammenfassung

ölpreise, Wechselkurse und die Inflation in Entwicklungsländern. — In diesem Aufsatz wird das monetäre Modell einer geschlossenen Volkswirtschaft erweitert, um zu untersuchen, auf welchem Wege und in welchem AusmaΒ der Anstieg des Preises und der gesamten Kosten für importiertes Erdöl die Inflation in den ölimportierenden Entwicklungsländern seit Herbst 1973 beeinfluΒt hat. Der empirische Befund läΒt erkennen, daΒ die höheren ölpreise zwar zur Inflation in diesen Entwicklungsländern beigetragen haben (besonders in den groΒen Ländern und in denen mit bereits hoher Inflation), daΒ die Inflation in diesen Ländern aber hauptsächlich von der übergroΒen Expansion der heimischen Geldmenge herrührt.

Résumé

Prix pétroliers, taux de change et inflation local dans les nations développantes. — Dans cet article l’auteur étend le modéle monétaire d’une économie fermée pour examiner les canaux et l’importance relative de l’augmentation du prix et des frais totaux du pétrole importé sur l’inflation locale dans les pays développants depuis l’automne 1973. Les résultats empiriques semblent indiquer que les prix pétroliers plus hauts contribuaient à l’inflation locale dans les nations développantes qui importent du pétrole (particuliérement dans les grandes nations et dans celles d’une inflation déjà haute), mais que l’inflation dans ces nations était largement le résultat d’une excessive expansion monétaire locale.

Resumen

Precios del petróleo, tasas de cambio e inflaciön domèstica en pafses en desarrollo. — En este articulo se ha extendido el modelo monetario de economfa cerrada para examinar los canales y la importancia relativa del aumento en el precio y en el costo total del petröleo importado sobre la inflaciön domèstica en paises en desarrollo importadores de petröleo desde otono de 1973. Los resultados empiricos parecen indicar, que mientras los mayores precios del petröleo contribuyeron a la inflaciön domèstica en los pafises en desarrollo importadores de petröleo (especialmente en paises grandes y de altra inflaciön), la inflaciön en estos pafses fuè el resultado primariamente de la excesiva expansion monetaria domèstica.

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Copyright information

© Institut fur Weltwirtschaft an der Universitat Kiel 1984

Authors and Affiliations

  • Dominick Salvatore

There are no affiliations available

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