What should inflation targeting countries do when oil prices rise and drop fast? / prepared by Nicoletta Batini and Eugen Tereanu.
After a long period of global price stability, in 2008 inflation increased sharply following unprecedented increases in the price of oil and other commodities, notably food. Although inflation remained lower and growth higher in inflation targeting countries than elsewhere, almost everywhere price s...
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| Format: | eBook |
| Language: | English |
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[Washington D.C.] :
International Monetary Fund,
2009.
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| Series: | IMF working paper ;
WP/09/101. |
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Table of Contents:
- VI. Bracing for Future ShocksVII. Concluding Remarks and Policy Implimentations; 6. Optimized Feedback Coefficients Under Three Alternative Future Oil Scenarios; References.
- Contents; I. Introduction; Tables; 1. Oil Price Developments; II. Relevant Literature; III. Methodology, Data and Calibration; IV. Optimal Policy Responses and Optimal Horizons to a 2000s-Type Supply Shock; A. Optimal Policy Responses under a 2000s-Type Oil Shock; 2. Welfare Statistics-Various Oil Regimes; B. Optimal Horizons for a 2000s-Type Oil Shock; 3. Optimal Policy Horizons Under Alternative Oil Regimes; 4. Optimal Policy Horizons Under Alternative Oil Regimes (α = 0.3); V. Optimal Rules Under Imperfect Credibility; 5. Optimal Feedback Horizons Under Alternative Oil Regimes.