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

Thumbnail
Borradores de Economía; No. 871
Date published
2015-03-06
Date of last update
2015-03-06
Author
Hamann-Salcedo, Franz Alonso
Bejarano, Jesus
Rodríguez-Guzmán, Diego Arturo
Document language
spa
Metadata
Show full item record
Alternative metrics
Downloads
Abstract views

Las opiniones contenidas en el presente documento son responsabilidad exclusiva de los autores y no comprometen al Banco de la República ni a su Junta Directiva.
Abstract
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
JEL Codes
E52 - Monetary PolicyC61 - Optimization Techniques; Programming Models; Dynamic AnalysisE31 - Price Level; Inflation; DeflationE37 - Prices, Business Fluctuations, and Cycles: Forecasting and Simulation: Models and ApplicationF41 - Open Economy Macroeconomics
Keywords
Oil prices ; Precautionary savings ; Monetary policy ; Credit ; Leverage ; Financial accelerator ; Colombia ;
URI
https://repositorio.banrep.gov.co/handle/20.500.12134/6160
https://hdl.handle.net/20.500.12134/6160
https://doi.org/10.32468/be.871
https://ideas.repec.org/p/bdr/borrec/871.html
https://ideas.repec.org/p/col/000094/012615.html
Collections
Seleccionar año de consulta:
This work is licensed under a Creative Commons Reconocimiento-NoComercial 4.0.This document has been deposited by the author (s) under the following certificate of deposit