Vybor denez︠h︡no-kreditnoĭ politiki v strane-eksportere nefti
Année de publication
2004
Circulation
500 exemplaires
Langue
In Russian. Title and Annotation in English
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The paper analyzes efficacy of monetary and credit policy in major oil-exporting economies in terms of sterilization of shocks caused by money offer and fluctuations of export revenues affected by changes in price for oil on the global market. Section 1 tests a hypothesis of efficiency of the monetary and credit policy in oil exporting economies under external price shock. Section 2 presents a macroeconomic model of general equilibrium with money in the function of profit which describes a small open economy exporting raw materials, the prices for which are exogenously set on the world market.
