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 …