This paper examines the effects of the U.S. shale oil boom in a two-country DSGE model where countries produce crude oil, refined oil products, and a non-oil good. The model incorporates different types of crude oil that are imperfect substitutes for each other as inputs into the refining...

This paper compares the ability of different market instruments in terms of predicting monetary policy decisions to find out which one best captures market participants policy expectations. Towards this end, policy rate expectations implied by various market instruments and different approaches...