G2TT
来源类型FEEM working papers "Note di lavoro" series
规范类型论文
The Response of European Energy Prices to ECB Monetary Policy
Hipòlit Torró
发表日期2018
出处Economic Theory
出版年2018
语种英语
摘要To our knowledge, this paper is the first to discuss the response of European energy commodity prices to unexpected monetary policy surprises from the European Central Bank. Using the Rigobon (2003) identification through heteroscedasticity method, we find a significant and positive response during the crisis period for Brent and coal. Similar results are obtained by other authors for European financial assets in this period. This result reinforces the idea that during this period, financial assets and some commodities positively responded to conventional and unconventional expansionary monetary policy measures, increasing confidence about the survival of the European monetary union. The remaining European energy commodities (electricity, EUAs, and natural gas prices) seem to be unaffected by monetary policy actions. We think these results are of interest to those economic agents and institutions involved in European energy markets and are especially important for the European Central Bank in order to predict the consequences of its monetary policy on the inflation objective. *** Suggested citation: Torró, H. (2018), 'The Response of European Energy Prices to ECB Monetary Policy', Nota di Lavoro 9.2018, Milano, Italy: Fondazione Eni Enrico Mattei
特色分类C26;E58;G13;Q41
关键词Brent Monetary Policy European Central Bank Energy Commodities
URLhttps://www.feem.it/en/publications/feem-working-papers-note-di-lavoro-series/the-response-of-european-energy-prices-to-ecb-monetary-policy/
来源智库Fondazione Eni Enrico Mattei (Italy)
资源类型智库出版物
条目标识符http://119.78.100.153/handle/2XGU8XDN/118583
推荐引用方式
GB/T 7714
Hipòlit Torró. The Response of European Energy Prices to ECB Monetary Policy. 2018.
条目包含的文件
文件名称/大小 资源类型 版本类型 开放类型 使用许可
cover-front27.jpg(74KB)智库出版物 限制开放CC BY-NC-SA浏览
ndl2018-009.pdf(589KB)智库出版物 限制开放CC BY-NC-SA浏览
个性服务
推荐该条目
保存到收藏夹
导出为Endnote文件
谷歌学术
谷歌学术中相似的文章
[Hipòlit Torró]的文章
百度学术
百度学术中相似的文章
[Hipòlit Torró]的文章
必应学术
必应学术中相似的文章
[Hipòlit Torró]的文章
相关权益政策
暂无数据
收藏/分享
文件名: cover-front27.jpg
格式: JPEG
文件名: ndl2018-009.pdf
格式: Adobe PDF

除非特别说明,本系统中所有内容都受版权保护,并保留所有权利。