Browsing Harvard Kennedy School by Keyword "oil"
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The Currency-Plus-Commodity Basket: a Proposal for Exchange Rates in Oil-Exporting Countries to Accommodate Trade Shocks Automatically
(2017)The paper proposes an exchange rate regime for oil-exporting countries. The goal is to achieve the best of both flexible and fixed exchange rates. The arrangement is designed to deliver monetary policy that counteracts ... -
Effects of Speculation and Interest Rates in a “Carry Trade” Model of Commodity Prices
(2013)The paper presents and estimates a model of the prices of oil and other storable commodities, a model that can be characterized as reflecting the carry trade. It focuses on speculative factors, here defined as the trade-off ...