NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH

Oil Price Movements and the Global Economy: A Model-Based Assessment

Selim Elekdag, Rene Lalonde, Douglas Laxton, Dirk Muir, Paolo Pesenti

NBER Working Paper No. 13792
Issued in February 2008

---- Acknowledgements -----

We thank Ryan Felushko, Laura Leon, Lei Lei Myaing, Susanna Mursula and Chris Tonetti for invaluable research assistance. This paper has benefited from helpful comments from Riccardo Cristadoro of the Banca d?Italia and participants to the Bank of Canada Workshop on Commodity Price Issues, the IMF Workshop on Open Economy Models for Policy Evaluation and presentations at the Bank of Japan, the Hong Kong Monetary Authority and the European Central Bank. This paper should not be reported as representing the views of the IMF, its Executive Board or any member government. The views expressed are those of the authors and do not necessarily reflect the views of the IMF, IMF policy, the Bank of Canada, the Federal Reserve Bank of New York, the Federal Reserve System, the National Bureau of Economic Research or any other institution mentioned herein or with which the authors are affiliated.

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