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Monetary policy implications for an oil-exporting economy of lower long-run international oil prices

Franz Alonso
Hamann-Salcedo
Jesús Antonio
Bejarano-Rojas
Diego Arturo
Rodríguez-Guzmán
Domingo, 1 Marzo 2015

The sudden collapse of oil prices poses a challenge to inflation targeting central banks in oil exporting economies. This paper illustrates that challenge and conducts a quantitative assessment of the impact of permanent changes in oil prices in a small a