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Monetary Policy and the Oil Market. 吉野直行他編 金融政策と石油市場
・ISBN 978-4-431-55796-8 hard EUR 49.99
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| 著者・編者 | Yoshino, Naoyuki / Taghizadeh-Hesary, F. (eds.), |
|---|---|
| シリーズ | ADB Institute Series on Development Economics |
| 出版社 | (Springer, GW) |
| 出版年月 | 2016 |
| ページ数 | 143 pp. |
| 言語 | ENG |
| ニュース番号 | <629-553 629-649> |
解説
While oil price fluctuations in the past can be explained by pure supply factors, this book argues that it is monetary policy that plays a significant role in setting global oil prices. It is a key factor often neglected in much of the earlier literature on the determinants of asset prices, including oil prices. However, this book presents a framework for modeling oil prices while incorporating monetary policy. It also provides a complete theoretical basis of the determinants of crude oil prices and the transmission channels of oil shocks to the economy. Moreover, using several up-to-date surveys and examples from the real world, this book gives insight into the empirical side of energy economics. The empirical studies offer explanations for the impact of monetary policy on crude oil prices in different periods including during the subprime mortgage crisis of 2008-2009, the impact of oil price variations on developed and emerging economies, the effectiveness of monetary policy in the Japanese economy incorporating energy prices, and the macroeconomic impacts of oil price movements in trade-linked cases. This must-know information on energy
economics is presented in a reader-friendly format without being overloaded with excessive and complicated calculations. enUsed="false" QFormat="true" Name="Subtle Emphasis"/>