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

Borradores de Economia
Número: 
871
Publicado: 
Clasificación JEL: 
C61, E31, E37, E52, F41
Palabras clave: 
Oil Prices, Precautionary Savings, Monetary policy, Credit

Lo más reciente

Leonardo Fabio Morales, Leonardo Bonilla-Mejía, Didier Hermida-Giraldo, Francisco Javier Lasso-Valderrama, José Pulido
Leonardo Fabio Morales, Juan Chaparro-Cardona, Eleonora Dávalos, Nataly Corredor-Martinez

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