Economics, Econometrics and Finance
4 years ago

Monetary policy reacts to oil price shocks, impacting economy significantly.

RePEc: Research Papers in Economics
Systematic Monetary Policy and the Effects of Oil Price Shocks
Ben Bernanke, Mark Gertler, Mark Waston

Paper Summary

The article explores how oil price increases affect the economy and how monetary policy responds to these shocks. The researchers developed a technique to separate the direct impact of the oil price shock from the effects of the policy response to the shock.

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