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Nature of Oil Price Shocks and Monetary Policy / Junhee Lee, Joonhyuk Song.
- Format:
- Book
- Author/Creator:
- Lee, Junhee.
- Series:
- Working Paper Series (National Bureau of Economic Research) no. w15306.
- NBER working paper series no. w15306
- Language:
- English
- Physical Description:
- 1 online resource: illustrations (black and white);
- Place of Publication:
- Cambridge, Mass. National Bureau of Economic Research 2009.
- Summary:
- We investigate the nature of oil price shocks to the Korean economy in recent years and find that the recent hike in oil price is induced by the increase in oil demand in contrast to the previous years when oil price run-up is mostly from supply disruptions. We also study how monetary responses to oil price shocks affect economic stability and find that an accommodative policy yields more stable outcomes.
- Notes:
- Print version record
- September 2009.
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