We develop a small open economy DSGE-based New Keynesian model incorporating the demand for oil, to focus on whether the PBoC targets core inflation or headline inflation including oil price inflation, and investigating the macroeconomic effect of oil price shocks. Based on both counterfactual ...
摘要: This Economic Letter examines the historical relationship between oil price shocks and inflation in light of some recent research and goes on to discuss what the recent jump in oil prices might mean for inflation in the future.关键词: Petroleum products - Prices Inflation (Finance Petroleum...
D., and Montan˜´es, A. (2012). "Economic growth, inflation and oil shocks: are the 1970s coming back?" Applied Economics, 44 (35), 4575-4589.Gomez-Loscos, A., Gadea, M. D., and Montanes, A. (2012). Economic growth, inflation and oil shocks: are the 1970s coming back...
从课文中,可以得出的结论是。[[A] oil price shocks are less shocking nowB] inflation seems irrelevan
The linkage between oil price shocks and economic growth with inflation in the presence of technological advances: a CGE model Boyd.The linkage between oil price shocks and economic growth with inflation in the presence of technological advances: A CGE model. Energy Policy . 2003Doroodinan K,Roy...
We find , in contrast with Clarida Galí and Gertler (QJE, 2000), that oil price shocks rather than differences in the monetary policy rules between the pre-Volcker and post-Volcker periods, are the main driving forces that explain high and persistent levels of inflation during the 70s. The...
Since the beginning of 2000s the world economy has witnessed a sub-stantial increase in oil prices, which is seen to be an important source of economic fluctuations, causing high inflation, unemployment and low or negative growth rates. Recent experience, however, has not validated this view. ...
Dynamic Ordinary Least Squares (DOLS) technique was used to estimate the effect of oil price on domestic investment in Ghana. The analysis revealed that there is long run relationship between domestic private investment, oil price shocks, exchange rate, inflation, income and credit to private ...
Third, oil price shocks tended to contribute significantly more to inflation variation in advanced economies, countries with stronger global trade and financial linkages, commodity importers, net energy importers, countries without inflation-targeting regimes, and countries with pegged exchange rate ...
This paper examines the impact of oil price shocks and attempts to explain why the rise in oil prices up to 2008 had little impact on the world economy. It makes three main arguments. First, that oil prices have never been as important as is popularly thought. Second, that the most impor...