Ider, Gökhan; Kriwoluzky, Alexander; Kurcz, Frederik; … - 2024
energy prices. Second, through Lucas critique-robust counterfactual analysis, we uncover that the ECB's ability to affect … fast-moving energy prices plays an important role in the transmission of monetary policy. Third, we empirically document … prices. Crucially, the tightening required depends on the ECB's ability to influence global energy prices. Finally, we find …