Project: Oil shocks, business cycles and monetary policy
- project duration
- 01-OCT-08 – 30-SEP-12
- The Phd-project aims to formulate optimal monetary policy responses to oil price changes. First we identify the different kinds of oil shocks and their transmission channels to the real economy within DSHE-models. Subsequently these models are estimated with Bayesian techniques. The estimation results quantify the role of the different oil shocks and are used to formulate optimal monetary policy rules.