Systematic Monetary Policy and the Effects of Oil Price Shocks
Систематическая денежно-кредитная политика и последствия нефтяных ценовых шоков
1997-01-01
SCID: 54.1/5tqgm6xw
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macroeconomic effectsmonetary policyoil price shockssystematic monetary policy
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Abstract (AI)
Ben S. Bernanke, Mark Gertler, Mark Watson, Christopher A. Sims, Benjamin M. Friedman, Systematic Monetary Policy and the Effects of Oil Price Shocks, Brookings Papers on Economic Activity, Vol. 1997, No. 1 (1997), pp. 91-157
Key Findings
1
It focuses on distinguishing the direct effects of oil price increases from effects caused by the monetary policy response.
2
The analysis highlights monetary policy as a potentially important channel shaping the economy’s response to oil price shocks.
3
The paper examines how systematic monetary policy influences the macroeconomic effects of oil price shocks.
Research Object
systematic monetary policy responses to oil price shocks
Research Subject
the effects of oil price shocks on economic activity under alternative monetary policy rules
Publication Details
Publication Date
1997-01-01
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