Showing 1 - 10 of 26,341
Persistent link: https://www.econbiz.de/10015080982
Persistent link: https://www.econbiz.de/10011523827
Persistent link: https://www.econbiz.de/10001177642
The paper presents a theory of nominal asset prices for competitively owned oil. Focusing on monetary effects, with … nominal oil price that are used to illustrate the theory of oil price jumps. The evidence also indicates strong Granger … causality of the oil price by US inflation as is consistent with the theory …
Persistent link: https://www.econbiz.de/10013153361
In 2000 and 2001 Russia faced a puzzle: high world oil prices, while ensuring GDP growth and strong fiscal balance, generated serious problems for domestic monetary and exchange rate policies. The Central Bank was forced to buy excess foreign exchange supply on the market, thereby paving the way...
Persistent link: https://www.econbiz.de/10014117378
Persistent link: https://www.econbiz.de/10001135260
Beginning in 2009, in many advanced economies, policy rates reached their zero lower bound (ZLB). Almost at the same time, oil prices started rising again. We analyze how the ZLB affects the propagation of oil shocks. As these shocks move inflation and output in opposite directions, their...
Persistent link: https://www.econbiz.de/10014189147
Persistent link: https://www.econbiz.de/10010470104
Persistent link: https://www.econbiz.de/10013174926
The global oil dynamics has significant implications for both oil exporting and importing small open economies. However, much of the literature on oil shocks is oriented towards advanced oil-importing economies. Micro-founded studies that explore the effects of oil shocks from the standpoint of...
Persistent link: https://www.econbiz.de/10012297450