Monetary Policy and Crude Oil

Prices, Production and Consumption

AvBasil Oberholzer

Inbunden, Engelska, 2017

Del i serien New Directions in Post-Keynesian Economics series

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Beskrivning

The global crude oil market is critically important in many respects. It is the fuel that drives the global economy and, as such, is the focus of climate policies. Moreover, crude oil is the basis of a tradable financial asset. It is therefore connected to several outstanding macroeconomic developments of recent years, including financial market fluctuations, the financial crisis and the exceptional conduct of monetary policy. This book investigates the impacts of monetary policy and the financial system on the global crude oil market. Furthermore, it outlines how monetary policy may also be used to guarantee stability and to contribute to ecological sustainability. This unique and innovative book will appeal to students and economists interested in macroeconomics, the environment, energy and monetary policy. It will also be essential reading for policy makers and those interested in economic policy that will benefit both society and the environment.

Produktinformation

Utgivningsdatum:2017-07-28
Mått:156 x 234 x undefined mm
Format:Inbunden
Språk:Engelska
Serie:New Directions in Post-Keynesian Economics series
Förlag:Edward Elgar Publishing Ltd
ISBN:9781786437884

Utforska kategorier

Energiindustri inom Ekonomi och Ledarskap
Makroekonomi inom Ekonomi och Ledarskap
Miljöekonomi inom Ekonomi och Ledarskap

Mer om författaren

Basil Oberholzer, Economist, Swiss Federal Office for the Environment, Switzerland

Recensioner i media

'This book unveils how and why monetary policy decisions, notably by the US Federal Reserve, affect the crude oil market at the global level, impacting on oil prices as well as on oil production, thereby affecting financial stability and environmental conditions negatively. Basil Oberholzer puts forward an innovative policy mix that addresses both these issues through an oil-price targeting system combined with various market-based fiscal policy tools. This volume must be read by all policy makers around the world.'

Innehållsförteckning

Contents: PART I FACTS AND THEORY OF MONETARY POLICY AND CRUDE OIL 1. The Crude Oil Market and its Driving Forces 2. Monetary Policy and Crude Oil: A Theoretical Analysis PART II MONETARY POLICY AND CRUDE OIL IN THE REAL WORLD 3. US Monetary Policy and the Global Crude Oil Market 4. Empirical Evidence: Monetary Policy Impacts on Oil Market Variables PART III ACHIEVING STABILITY AND SUSTAINABILITY: ECONOMIC POLICY MAKING 5. Economic Policy Propositions: An Overview 6. An Economically Stable Way Out of Fossil Energies Index