indexed to the nominal price and, as a result, their investment is more sensitive to nominal price shocks. We also find that … the overall degree of nominal indexation increases with the uncertainty of the price level. An implication of this is that … economies with higher price-level uncertainty are less vulnerable to a price shock of a given magnitude, that is, aggregate …

same country. Two types of monetary policy, inflation targeting (IT) and price level targeting (PT), have very different … implications for the price level path subsequent to a price-level shock, and consequently, have different redistributional …% price-level increase under IT is about three times larger than under PT. Households' and foreigners' wealth losses from a …

indexed to the nominal price and, as a result, their investment is more sensitive to nominal price shocks. We also find that … the overall degree of nominal indexation increases with the uncertainty of the price level. An implication of this is that … economies with higher price-level uncertainty are less vulnerable to a price shock of a given magnitude, that is, aggregate …

The dramatic reduction in global demand, and the decline in the spot price of crude oil in the second half of last year …

model, the change in the price of a commodity depends on the unanticipated changes in demand factors, along with the real …

’ positions do not predict oil-price changes, but that oil-price changes predict changes in positions. Third, the evidence … indicates that financial firms’ positions did not cause the market to expect persistent price increases during 2007/08. Other … emerging Asia. Of these two explanations, the one that seems most consistent with the facts explains oil-price fluctuations in …

production, so its effect on the price of oil is expected to be limited. Furthermore, the United States enjoys unique …

The dramatic reduction in global demand, and the decline in the spot price of crude oil in the second half of last year …