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Il cambio dollaro/euro, il prezzo del petrolio e la Banca Centrale Europea (Dollar/Euro Exchange Rate, Oil Price and the European Central Bank)

Moneta e Credito

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Title Il cambio dollaro/euro, il prezzo del petrolio e la Banca Centrale Europea (Dollar/Euro Exchange Rate, Oil Price and the European Central Bank)
 
Creator Sylos Labini, Stefano
 
Subject —
Devaluation, Exchange Rates, Monetary
E58, F31
 
Description In this paper an analysis on dollar/euro exchange rate, oil price and European Central Bank monetary policy is worked out. Firstly, data on the main variables related with the exchange rate and an equation to explain the variation of the exchange rate in the period March 1998-September 2000 are presented; secondly, the consequences of oil price growth and eurodevaluation on the US and European economies are taken into account; lastly, different policy strategies to stop eurodevaluation are discussed. The European Central Bank strategy, that consists of small increases of the interest rate, is not reaching any result. An alternative strategy is based on innovative public demand, that should be financed by European bonds using "central bank excess funds" as security. Public demand of infrastructures and new technologies should aim at reducing oil dependence and would stimulate growth and sustainable development in Europe, with positive effects on the exchange rate.       JEL Codes: E58, F31Keywords: Devaluation, Exchange Rates, Monetary
 
Publisher Associazione Economia civile
 
Contributor —
 
Date 2012-04-19
 
Type info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
Articolo peer-review
 
Format application/pdf
 
Identifier http://ojs.uniroma1.it/index.php/monetaecredito/article/view/9798
 
Source Moneta e Credito; Vol 53, N° 211 (2000)
Moneta e Credito; Vol 53, N° 211 (2000)
2037-3651
 
Language ita
 
Relation http://ojs.uniroma1.it/index.php/monetaecredito/article/view/9798/9683
 
Rights Copyright (c) 2016 Stefano Sylos Labini
http://creativecommons.org/licenses/by-nc-nd/4.0