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

Borradores de Economia
Number: 
871
Published: 
Classification JEL: 
C61, E31, E37, E52, F41

The most recent

Juan Esteban Carranza-Romero, Alejandra González-Ramírez, Mauricio Villamizar-Villegas

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