Score contribution per author:
α: calibrated so average coauthorship-adjusted count equals average raw count
While recent work has emphasized that production networks help in the propagation of oil shocks, this paper emphasizes the role of social connections in propagating the effect of oil shocks on inflation expectations. Using a dataset of Euro Area member states, the paper shows that social connectedness has a significant role in the propagation of oil shocks on inflation expectations, with the network effects dominating the direct effects. The effects have become stronger in recent years.