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How does the European Central Bank react to oil prices?

Author

Listed:
  • Guillaume L'Oeillet

    (IREA - Institut de Recherche sur les Entreprises et les Administrations - UBS - Université de Bretagne Sud)

  • Julien Licheron

    (CEPS/INSTEAD - Centre d'Etudes de Populations, de Pauvreté et de Politiques Socio-Economiques / International Networks for Studies in Technology, Environment, Alternatives, Development - Centre d'Etudes de Populations, de Pauvreté et de Politiques Socio-Economiques / International Networks for Studies in Technology, Environment, Alternatives, Development)

Abstract

Monetary 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.

Suggested Citation

  • Guillaume L'Oeillet & Julien Licheron, 2012. "How does the European Central Bank react to oil prices?," Post-Print halshs-01141297, HAL.
    • Handle: RePEc:hal:journl:halshs-01141297
    DOI: 10.1016/j.econlet.2012.04.035
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    Cited by:

    1. Christoph Siemroth, 2021. "When Can Decision Makers Learn from Financial Market Prices?," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 53(6), pages 1523-1552, September.

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