TY  - UNPD
A1  - Weichenrieder, Alfons J.
T1  - A note on the role of monetary policy when natural gas supply is inelastic
T2  - SAFE working paper ; No. 360
N2  - This note argues that in a situation of an inelastic natural gas supply a restrictive monetary policy in the euro zone could reduce the energy bill and therefore has additional merits. A more hawkish monetary policy may be able to indirectly use monopsony power on the gas market. The welfare benefits of such a policy are diluted to the extent that some of the supply (approximately 10 percent) comes from within the euro zone, which may give rise to distributional concerns.
T3  - SAFE working paper - 360 
KW  - energy crisis
KW  - monetary policy
KW  - natural gas
Y1  - 2022
UR  - http://publikationen.ub.uni-frankfurt.de/frontdoor/index/index/docId/68696
UR  - https://nbn-resolving.org/urn:nbn:de:hebis:30:3-686964
UR  - https://papers.ssrn.com/sol3/papers.cfm?abstract_id=4233057
IS  - 28 September 2022
PB  - SAFE
CY  - Frankfurt am Main
ER  -