How does the European Central Bank react to oil prices?
AbstractMonetary policy may constitute a short-term explanation of the non-linearity in the relationship between oil prices and output. The role of oil prices in the ECB reaction is thus investigated with an extended Taylor rule including several oil prices indicators.
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Bibliographic InfoArticle provided by Elsevier in its journal Economics Letters.
Volume (Year): 116 (2012)
Issue (Month): 3 ()
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Web page: http://www.elsevier.com/locate/ecolet
Oil prices; Monetary policy; Nonlinearity;
Find related papers by JEL classification:
- E52 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Monetary Policy
- E58 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Central Banks and Their Policies
- Q43 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy - - - Energy and the Macroeconomy
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