Monetary Policy Responses to Oil Price Fluctuations

By Martin Bodenstein, Luca Guerrieri, Lutz Kilian. IMF Economic Review, 2012

200 citations recorded by the source corpus.

Subfields: Economics and Econometrics, Renewable Energy, Sustainability and the Environment

View Paper: https://www.semanticscholar.org/paper/53df52194c08090045b104ea5d8504770958393c

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Citations in the corpus

The Great Plunge in Oil Prices: Causes, Consequences, and Policy Responses (2015, unknown): “Stabilizing the output gap appears a key objective for central banks, not only from a welfare perspective, but also because it can contribute to lower volatility of price and wage inflation (Bodenstein, Guerrieri, and Kilian 2012).”
Forty Years of Oil Price Fluctuations: Why the Price of Oil May Still Surprise Us (2016, background): “4 major oil price fluctuations dating back to 1973 are largely explained by shifts in the demand for crude oil (see, e.g., Barsky and Kilian 2002, 2004; Kilian 2009a; Kilian and Murphy 2012, 2014; Bodenstein et al. 2012; Lippi and Nobili 2012; Baumeister and Peersman 2013; Kilian and Hicks 2013; Kil”
Quantitative Effects of the Shale Oil Revolution (2015, unknown): “Recent examples include Backus and Crucini (2000), Blanchard and Gali (2010), Bodenstein et al. (2011, 2012), Bodenstein and Guerrieri (2011), DeMiguel and Manzano (2006), Leduc and Sill (2007), and Nakov and Pescatori (2010a,b).”
HOW DOES STOCK MARKET VOLATILITY REACT TO OIL PRICE SHOCKS? (2017, unknown): “For instance, studies on the relation between monetary policy and asset price volatility [e.g., Bernanke and Gentler (1999)] should be extended to include the global oil market, building on the global DSGE framework developed in Bodenstein et al. (2012), for example.”
Oil Prices, Exchange Rates and Interest Rates (2019, background): “For example, Brown and Phillips (1986) and Trehan (1986) suggested that the appreciation of the dollar in the early 1980s lowered the demand for oil outside of the United States and stimulated the supply of oil outside of the United States, contributing to the fall in the real price of oil.”
The Role of Oil Price Shocks in Causing U.S. Recessions (2014, background): “Stock and Watson (2012), on the other hand, concede that higher oil prices contributed to this recession, but attribute the bulk of the economic decline to other causes including the worsening of U.S. and global credit conditions.”
Oil Price Shocks: Causes and Consequences (2014, result): “This claim is incorrect, as has been demonstrated in Bodenstein, Guerrieri, and Kilian (2012) within the framework of a global DSGE model with fully endogenous oil prices.”