Monetary Policy Response to Oil Price Shocks

With this back- ground, the fiscal and monetary response to the 1979-80 oil-price shock was very different. Discretionary fiscal policy subtracted an estimated ...

[PDF] Systematic Monetary Policy and the Effects of Oil Price Shocks

Macroeconomic shocks such as wil price increases induce a systematic (endogenous) response of monetary policy. We develop a VAR-based technique for ...

DP7594 Does the Fed Respond to Oil Price Shocks? - CEPR

Since Bernanke, Gertler and Watson (1997), a common view in the literature has been that systematic monetary policy responses to the ...

Monerary Policy Response to Oil Price Shocks - SNB

How should monetary authorities react to an oil price shock? The New Keynesian literature has concluded that ensuring perfect price ...

Can Monetary Policy Mitigate The Effects of Oil Shocks? A Follow-Up

Indeed HH point out that most studies of the oil-economy relationship show that the biggest impacts come after twelve months. HH redo the BGW ...

Oil Price Shock and Fiscal-Monetary Policy Variables in Nigeria

fact that the monetary and fiscal policy variable response of oil price shocks may be more pronounced for most oil exporting countries ...

Oil Price Shocks, Rigidities and the Conduct of Monetary Policy

The strong and sustained rise in oil prices observed in recent years poses a challenge to monetary policy and its ability to simultaneously ...

Monetary policy and the effects of oil price shocks on ... - NASA ADS

To assess the relative contribution of oil shocks and endogenous monetary policy responses to the economic downturns, I shut off the responses of the call money ...

Oil Shocks and Aggregate Macroeconomic Behavior

A recent paper by Bernanke, Gertler and Watson (1997) suggests that monetary policy could be used to eliminate any recessionary consequences of an oil price ...

Oil Price Shocks and Monetary Policy | OilPrice.com

1. It can tighten policy to keep inflation from rising. · 2. It can use expansionary monetary policy to try to offset the impact of oil prices on ...

Federal Reserve Bank of San Francisco Working Paper Series ...

Federal Reserve Bank of San Francisco Working Paper Series Monetary Policy Response to Oil Price Shocks Monetary Policy Response to Oil Price Shocks.

Financial and monetary policy responses to oil price shocks

Furthermore, we nd that the response of interest rates to an oil price shock depends heavily on the monetary policy regime of each country. Finally, stock ...

Reactions of the monetary policy to oil price shocks - ResearchGate

... They employed a structural vector auto-regressive model and found that increasing oil prices reduces output and investment but boosts inflation and interest ...

Does the Fed Respond to Oil Price Shocks? - Search eLibrary :: SSRN

Since Bernanke, Gertler and Watson (1997), a common view in the literature has been that systematic monetary policy responses to the inflation ...

A Look Inside a Key Economic Debate: How Should Monetary Policy ...

Some softness in measures of consumer confidence suggests that consumers tend to be less confident about the future when oil prices rise. If ...

Financial and monetary policy responses to oil price shocks

Furthermore, we find that the response of interest rates to an oil price shock depends heavily on the monetary policy regime of each country. Finally, stock ...

how should monetary policy respond to price increases driven by ...

In fact, tightening monetary policy solely in response to contractionary supply shocks would ... oil prices have on the world economy. The ...

OPTIMAL MONETARY POLICY AND OIL PRICE SHOCKS

DSGE framework can solve the timing and the shape of impulse responses problem, however, fails to replicate the size of the impulse responses. Thus, in DSGE ...

Comment: Oil Shocks and Aggregate Macroeconomic Behavior - jstor

JEL codes: E32, E50. Keywords: oil shocks, monetary policy. A LARGE NUMBER OF studies have reported a correlation between increases in oil prices and subsequent ...

DP18755 How Oil Shocks Propagate: Evidence on the Monetary ...

Using high-frequency responses of oil futures prices to prominent oil market news, we ... monetary policy for oil shock propagation.