United States monetary policy has traditionally been modeled under the assumption that the domestic economy is immune to international factors and exogenous sho

This paper presents a simple macroeconomic model of the oil market. The model incorporates features of oil supply such as depletion, endogenous oil exploration

This paper provides new evidence of the macroeconomic effects of public investment in advanced economies. Using public investment forecast errors to identify th

The sharp drop in oil prices is one of the most important global economic developments over the past year. The SDN finds that (i) supply factors have played a s