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Monetary Policy in Fossil Fuel Exporters : The Curse of Horizons / Rabah Arezki.
World Bank Open Knowledge Repository (formerly "World Bank E-Library Publications") Available online
View online- Format:
- Book
- Government document
- Author/Creator:
- Arezki, Rabah.
- Series:
- Policy research working papers.
- World Bank e-Library.
- Language:
- English
- Subjects (All):
- Commodity Exporters.
- Energy.
- Energy and Environment.
- Energy Demand.
- Finance and Financial Sector Development.
- Financial Structures.
- Inflation.
- Macroeconomic Management.
- Macroeconomics and Economic Growth.
- Monetary Policy.
- Policy Coordination.
- Stranded Assets.
- Local Subjects:
- Commodity Exporters.
- Energy.
- Energy and Environment.
- Energy Demand.
- Finance and Financial Sector Development.
- Financial Structures.
- Inflation.
- Macroeconomic Management.
- Macroeconomics and Economic Growth.
- Monetary Policy.
- Policy Coordination.
- Stranded Assets.
- Physical Description:
- 1 online resource (19 pages)
- Other Title:
- Monetary Policy in Fossil Fuel Exporters
- Place of Publication:
- Washington, D.C. : The World Bank, 2019.
- System Details:
- data file
- Summary:
- This paper examines the role of monetary policy in fossil fuel exporters at different horizons. The main argument is that central banks in these economies need to look beyond the horizon of the business cycle. In the short run, (independent) monetary policy should flexibly target inflation. In the medium run, central banks need to coordinate with fiscal authorities to ensure that monetary policy operates around a credible and sustainable fiscal anchor. In the long run, central banks should beware of the existential threats posed by new risks related to stranded assets.
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