Erceg, Christopher; Guerrieri, Luca; Kamin, Steven B. - Federal Reserve Board (Board of Governors of the … - 2009
Among the various explanations for the runup in oil and commodity prices of recent years, one story focuses on the role … overheating, excess demand for oil and other commodities, and rising commodity prices. We assess that hypothesis using the Federal … the sustained runup in oil prices observed until earlier this year. Moreover, a closer look at exchange rates and interest …