More Gray, More Volatile? Aging and (Optimal) Monetary Policy


Book Description

The evidence on the inflation impact of aging is mixed, and there is no evidence regarding the volatility of inflation. Based on advanced economies’ data and a DSGE-OLG model, we find that aging leads to downward pressure on inflation and higher inflation volatility. Our paper is also the first, using this framework, to discuss how aging affects the transmission channels of monetary policy. We are also the first to examine aging and optimal central bank policies. As aging redistributes wealth among generations and the labor force becomes more scarce, our model suggests that aging makes monetary policy less effective and in more gray societies central banks should react more strongly to nominal variables.













Botanical Gazette


Book Description

Publishes research in all areas of the plant sciences.







Safety Engineering in the Oil and Gas Industry


Book Description

When accidents occur in the oil and gas industry, the impacts can be profound. Serious injury or death to workers, environmental disasters and colossal costs for insurance or clean ups make the industry a hazardous one to operate in. Disasters become major news events such as the Prestige oil spill, Piper Alpha, Exxon Valdez oil spill and Deepwater Horizon. A move towards improving the health and safety of the industry is underway. This book emphasizes controlling, managing, and mitigating the risk of hazards in the oil and gas industry, increasing safety, and protecting the environment by identifying the hazards in the oil and gas industry through safety engineering techniques and management methods. Safety Engineering in the Oil and Gas Industry discusses how to improve safety and reliability in the oil and gas industry so that hazards can be reduced to the lowest level feasible. It covers the techniques needed to operate safely in an oil and/or gas industry setting, the standards that should be adhered to, the impacts of PPE, fire and explosions, equipment and infrastructure failures and storage and reliability engineering, amongst many other topics. This book is written in an easy-to-read and appealing style and multiple-choice questions are included to help with learning and understanding the concepts included. Underpinned by real life case studies and examples, this book aims to allow readers to consider how they can reduce the costs associated with bad safety practices to their business through maintained and consistent health, safety and environmental (HSE) standards. This book is a must-read for any student or professional studying or working in the oil and gas industries. It also has additional appeal to those with an academic or professional interest in occupational health and safety, civil engineering, offshore engineering and maritime engineering.