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International Finance Discussion Papers - Oil Shocks and the Zero Bound on Nominal Interest Rates (Paperback) Loot Price: R301
Discovery Miles 3 010
You Save: R75 (20%)
International Finance Discussion Papers - Oil Shocks and the Zero Bound on Nominal Interest Rates (Paperback): Martin Bodenstein

International Finance Discussion Papers - Oil Shocks and the Zero Bound on Nominal Interest Rates (Paperback)

Martin Bodenstein; Created by United States Federal Reserve Board, et al

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List price R376 Loot Price R301 Discovery Miles 3 010 You Save R75 (20%)

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Beginning in 2009, in many advanced economies, policy rates reached their zero lower bound (ZLB). Almost at the same time, oil prices started rising again. We analyze how the ZLB affects the propagation of oil shocks. As these shocks move inflation and output in opposite directions, their effects on economic activity are cushioned when monetary policy is constrained. The burst of inflation from an oil price increase lowers real interest rates at the ZLB and stimulates the interest-sensitive component of GDP, offsetting the usual contractionary effects. In fact, if the increase in oil prices is gradual, the persistent rise in inflation can cause a GDP expansion.

General

Imprint: Bibliogov
Country of origin: United States
Release date: February 2013
First published: February 2013
Authors: Martin Bodenstein
Creators: United States Federal Reserve Board • et al
Dimensions: 246 x 189 x 3mm (L x W x T)
Format: Paperback - Trade
Pages: 50
ISBN-13: 978-1-288-72489-5
Categories: Books > Social sciences > Politics & government > General
LSN: 1-288-72489-6
Barcode: 9781288724895

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