While oil price fluctuations in the past can be explained by pure supply factors, this book argues that it is monetary policy that plays a significant role in s

The global crude oil market is critically important in many respects. It is the fuel that drives the global economy and, as such, is the focus of climate polici

This paper examines the relationship between monetary policy and oil prices within a world oil demand and supply model. Low price and high income elasticities o

United States monetary policy has traditionally been modeled under the assumption that the domestic economy is immune to international factors and exogenous sho

Economic growth, low inflation, and financial stability are among the most important goals of policy makers, and central banks such as the Federal Reserve are k