The Relationship between Oil Prices and Inflation – the Role of Oil Dependency
In the last decades, due to geopolitical tensions, climate change, and technological advancements, countries worldwide are becoming less dependent on oil. This thesis aims to establish if decreased oil dependence weakens the impact of oil price shocks on inflation, thus contributing to the existing literature on the oil-inflation relationship. To this end, a Structural Vector Autoregressive (SVAR)
