Economic policy propositions: an overview

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Chapter 5 in Monetary Policy and Crude Oil, 2017, pp 199-222 from Edward Elgar Publishing

Abstract: This chapter starts with the identification of the main problems arising from the connections of monetary policy and financial markets with the crude oil market. First, financial investment in the oil futures market enhances oil price volatility and hence financial and economic instability. Second, since an increased oil price caused by speculation raises investment in the spot market, we end up with higher oil production and consumption, which is a problem against the background of climate change. Several existing policy propositions aiming at addressing stability and ecological sustainability are considered. These are futures market regulation, counteracting oil market interventions, an oil supply target and a tax on oil production. All of the approaches feature some strengths and some weaknesses.

Keywords: Economics and Finance; Environment (search for similar items in EconPapers)
Date: 2017
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Citations: View citations in EconPapers (4)

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