Carlstrom, Charles T. (contributor); … - 2005
posed by BGW:
“how much of output’s decline in response to an oil price shock is due to oil and how
much is due to … oil price shock if monetary policy were neutral. The question then is what does it
mean to keep monetary policy neutral … over 100 basis points with respect to a 10 percent oil price shock,
the real output response is very similar to Wicksell …