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https://scholarhub.balamand.edu.lb/handle/uob/719| Title: | Oil return, fed funds and the dollar from 1987 to 2013 - Preliminary; Please do not quote or cite without the authors' permission | Authors: | Ali, Nabil Al Mardini, Patrick |
Affiliations: | Department of Economics | Keywords: | Public finance Depreciation Inflation (monetary) Oils Petroleum industry Pricing |
Issue Date: | 2015 | Publisher: | IEEE | Part of: | International Mediterranean Gas and Oil Conference (MedGO), 2015 | Start page: | 1 | End page: | 4 | Conference: | International Mediterranean Gas and Oil Conference (MedGO) (16-18 April 2015 : Mechref, Lebanon) | Abstract: | After the oil crises in the 70's and at the beginning of the 80's, many authors argued that the FED's reaction to oil prices is not optimal and suggested to drop the energy component from the reaction function. This paper studies the period of 1987-2013 and shows that: (1) the FED responded to oil price inflation, (2) expansionary monetary policy fueled the surge in oil price only when it was accompanied by a depreciation of the US dollar and (3) the drop in the dollar's value increased oil prices only when fed funds rates were decreased. |
URI: | https://scholarhub.balamand.edu.lb/handle/uob/719 | Ezproxy URL: | Link to full text | Type: | Conference Paper |
| Appears in Collections: | Department of Economics |
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