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Title: Monetary policy: time for oil price targeting
Authors: Ali, Nabil Al
Mardini, Patrick 
Affiliations: Department of Economics 
Keywords: Oil prices
Fed funds
Exchange rate
Subjects: Monetary policy
Issue Date: 2016
Part of: Journal of international finance and economic
Volume: 16
Issue: 1
Start page: 61
End page: 72
This paper examines the 1987-2013 period and reveals the substantial feedback occurring between the United States' monetary policy and oil returns. Feedback also exists between oil returns and the American dollar's appreciation or depreciation. Results indicate that the dollar price of oil matters to the Federal Reserve more than the dollar's exchange rate. The U.S monetary authorities have the ability to target oil prices in times where oil is an indicator of the health of global economy. This goal becomes increasingly relevant if global financial stability is in the balance.
Type: Journal Article
Appears in Collections:Department of Economics

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