With the benefit of hindsight, this paper provides a fresh and comprehensive look at the causes of the 2014-16 collapse in oil prices and its impact on the global economy. It disentangles the contribution of supply and demand factors, assesses the impact on activity in oil exporters and oil...

We study how the interaction of market power and nominal price rigidity influences inflation dynamics. We formulate a tractable model of oligopolistic competition and sticky prices and derive closed-form expressions for the pass-through of idiosyncratic and common cost shocks to firms' prices....

В работе анализируется эффективность денежно кредитной политики в стра нах – крупнейших экспортерах нефти с точки зрения стерилизации шоков де нежного...

World economic growth has picked up from the sluggish pace registered at the start of the year. We expect global growth at PPP exchange rates to accelerate to 3.5 and 3.6 percent in 2017 and 2018, respectively, up from 3.1 percent this year. Growth in advanced economies will continue at a...

With the benefit of hindsight, this paper provides a fresh and comprehensive look at the causes of the 2014-16 collapse in oil prices and its impact on the global economy. It disentangles the contribution of supply and demand factors, assesses the impact on activity in oil exporters and oil...