Audzei and Sutóris ask whether inflation-targeting monetary policy affects households' incentives to invest in energy conservation, and whether the standard central bank response to energy price …
In a heterogeneous-agent New Keynesian model of an energy-importing small open economy, realistically high MPCs combined with a realistically low elasticity of substitution between energy and other …
PublishedJournal of Monetary EconomicsOnline 1 Dec 2025Published Dec 2025
This paper estimates the effect of oil price fluctuations on US banking variables using a Bayesian SVAR with sign restrictions following Baumeister and Hamilton (2019). Oil market shocks that lead to …
PublishedClassicJournal of Economic LiteraturePublished Nov 2008
This 2008 Journal of Economic Literature survey reviews the methodological developments that, in the author's view, have overturned the older consensus that oil and energy price shocks are simply …