Optimal Monetary Policy and Oil Price Shocks

Monetary Policy Rules and Oil Price Shocks

In theoretical work on optimal monetary policy, it is generally assumed that. Page 5. 3 the central bank targets CPI inflation (Clarida et al. (2001)). In ...

Oil Prices, Monetary Policy and Inflation Surges

We then show that mainly accounting for the inflation surge was a combination of oil price shocks and easy money shocks, even after controlling for shocks to ...

Optimal Monetary Policy in Response to Cost-Push Shocks

168) that “it is hard to imagine . . . that the. 1973 oil shock alone could have generated high inflation . . . in the absence of an accommodating monetary ...

Oil price shocks and monetary policy in resource-rich economies ...

List of references. Adolfson, Optimal monetary policy in an operational medium-sized dsge model, J. Money Cred. Bank., № 43, с. 1287

Oil Price Shocks and Monetary Policy: The Role for Storage

The rationale behind this idea is that when goods' prices are sticky in the economy, the monetary authority can effect the level of inventories ...

Oil price shocks and the optimality of monetary policy

I find that monetary policy amplified the negative effect of the oil price shock. The optimal response to the shock would have been to raise inflation and ...

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.

Monetary policy and energy price shocks - [email protected]

The paper brings together diverse conclusions on optimal monetary conduct in response to oil/energy supply shocks and examines where our results place us along ...

Optimal monetary policy response - | nbb.be

Montoro (2012) and Natal (2012) show that when oil has low substitutability in production, exogenous oil price shocks generate an endogenous policy trade-off ...

Oil Price Shocks and the Optimality of Monetary Policy - SMU

Within an estimated dynamic stochastic general equilibrium model with the demand for oil, I contrast Ramsey optimal with estimated monetary ...

Discussion on Oil Price Shocks, Monetary Policy and Stagflation

Second, this demand-side interpretation suggests that the nature of the macroeconomic stabilisation policies for addressing movements in oil prices should be ...

Oil Shocks and Monetary Policy in an Estimated DSGE Model for a ...

With the estimated model we simulate how monetary policy and other variables would respond to an oil-price shock under the policy rule that best describes the.

Oil price shocks and macroeconomic policy in resource-rich ...

Also, our results reveal that the added features are important for the response of monetary policy to an oil price shock. Under our model set up ...

Transmission of United States Monetary Policy Shocks to Oil ...

of the world, establishing optimal monetary policy ... devoted to research of influence of oil-price shocks on monetary policy, shows that oil price shocks ...

Possible Monetary Policy Responses to the Iraqi Oil Shock

Monetary policy can, at best, reverse the decline in spending caused by higher oil prices. Monetary policy cannot reverse the increase in costs. As a result ...

How Oil Shocks Propagate: Evidence on the Monetary Policy Channel

Intuitively, with higher inflation expectations and a constant nominal interest rate, the real interest rate drops, stimulating aggregate economic activity by ...

Monetary Policy Response to Oil Price Shocks - Wiley Online Library

Their main finding in this context is that the optimal rule reacts strongly to inflation but accomodates output gap fluctuations, suggesting again a policy.

Monetary Policy Response to Oil Price Shocks - jstor

core inflation instead of headline inflation is preferable. 4. Plante (2009) finds that optimal monetary policy should stabilize a weighted average of core and.

OPTIMAL ECONOMIC POLICY AND OIL PRICES SHOCKS IN ...

We augmented New Keynesian DSGE small open economy model of Dib (2008) with the oil stabilization fund and new Taylor-type monetary policy rule and estimated ...

Monetary policy and the effect of the oil prices pass-through to inflation

In turn, monetary policy may cushion the consequences of this shock or, conversely, make them more painful. For example, Bernanke et al. (1997) ...