Erceg, Christopher; Guerrieri, Luca; Kamin, Steven B. - In: International Journal of Central Banking 7 (2011) 1, pp. 131-160
Among the various explanations for the run-up in oil prices that occurred through mid-2008, one story focuses on the role of monetary policy in the United States and in developing economies. In this view, developing countries that peg their currencies to the dollar were forced to ease their...