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

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Borradores de Economía; No. 871

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2015-03-06

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2015-03-06

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spa
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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.

The opinions contained in this document are the sole responsibility of the author and do not commit Banco de la República or its Board of Directors.

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

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Esta obra está bajo licencia internacional Creative Commons Reconocimiento-NoComercial 4.0.

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