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Commodity Prices and Markets, East Asia Seminar on Economics, Volume 20

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Commodity Prices and Markets This PDF is a selection from a published volume from the National Bureau of Economic Research Volume Title: Commodity Prices and Markets, East Asia Seminar on Economics, Volume 20 Volume Author/Editor: Takatoshi Ito and Andrew K. Rose, editors Volume Publisher: University of Chicago Press Volume ISBN: 0-226-38689-9 ISBN13: 978-0-226-38689-8 Volume URL: http://www.nber.org/books/ito_09-1 Conference Date: June 26-27, 2009 Publication Date: February 2011 Chapter Title: Comment on "Oil and Macroeconomy: The Case of Korea" Chapter Authors: Tokuo Iwaisako Chapter URL: http://www.nber.org/chapters/c11866 Chapter pages in book: (290 - 292) 290 Junhee Lee and Joonhyuk Song Tokuo Iwaisako is the principal economist of the Policy Research Institute, Ministry of Finance, Government of Japan, and a visiting researcher at the Institute of Economic Research, Hitotsubashi University. Bodenstein, M., C. J. Erceg, and L. Guerrieri. 2008. Optimal monetary policy with distinct core and headline infl ation rates. Journal of Monetary Economics 55: 18–33. Bowman, A. W., and A. Azzalini. 1997. Applied smoothing techniques for data anal- ysis, Oxford Statistical Science Series 18. New York: Oxford University Press. Cogley, T. 2002. A simple adaptive measure of core infl ation. Journal of Money, Credit and Banking 34:94–113. Den Haan, W. J. 1996. The comovements between real activity and prices at different business cycle frequencies. NBER Working Paper no. 5553. Cambridge, MA: Na- tional Bureau of Economic Research, May. Dhawan, R., and K. Jeske. 2007. Taylor rules with headline infl ation: A bad idea. Federal Reserve Bank of Atlanta Working Paper no. 2007- 14. Goodfriend, M., and R. King. 1997. The new neoclassical synthesis and the role of monetary policy. NBER macroeconomics annual 12:231–96. Guo, H., and K. L. Kliesen. 2005. Oil price volatility and U.S. macroeconomic Activ- ity. Federal Reserve Bank of St. Louis Review (Novembe

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