Causes And Effects of Oil Price Movements and Policy Implications

Organized in close collaboration with the Reinventing Bretton Woods Committee, this workshop aims to have a better understanding of causes and effects of recent oil price movements and its policy implications.

It will mainly discuss the macroeconomic effects of lower oil and commodity prices, recommended policy mix before and after a shock, and lastly the micro dynamics and structure of oil pricing. In this context, an indicative set of questions that are going to be discussed during the sessions are:

  • How sustainable are the current levels of oil prices? How likely do other commodities continue to follow this trend?
  • What will be the growth effect of falling prices on the global economy? How will the lower prices affect different economies and regions?
  • What would be the recommended macroeconomic policy mix (monetary and fiscal) to oil and commodity price shocks?
  • What would be the ex-ante and ex-post policy measures against an abrupt volatility increase?
  • How could a plausible forecast for oil prices be achieved and where are oil prices heading next?