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Oil Prices, Monetary Policy, and Counterfactual Experiments Author info | Abstract | Publisher info | Download info | Related research | Statistics Carlstrom, Charles T.
Fuerst, Timothy S.
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Recessions are associated with both rising oil prices and increases in the federal funds rate. Are recessions caused by the spikes in oil prices or by the sharp tightening of monetary policy? This paper discusses the difficulties in disentangling these two effects.
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Article provided by Blackwell Publishing in its journal Journal of Money, Credit and Banking .
Volume (Year): 38 (2006)
Issue (Month): 7 (October)
Pages: 1945-1958
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Handle: RePEc:mcb:jmoncb:v:38:y:2006:i:7:p:1945-1958Contact details of provider: Web page: http://www.blackwellpublishing.com/journal.asp?ref=0022-2879
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References listed on IDEAS Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile , click on "citations" and make appropriate adjustments.: Kim, In-Moo & Loungani, Prakash, 1992.
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Journal of Money, Credit and Banking ,
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Bernanke, Ben S & Gertler, Mark & Watson, Mark W, 2004.
"Oil Shocks and Aggregate Macroeconomic Behavior: The Role of Monetary Policy: Reply ,"
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Erceg, Christopher J. & Henderson, Dale W. & Levin, Andrew T., 2000.
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Other versions: Hooker, Mark A., 1996.
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Leduc, Sylvain & Sill, Keith, 2004.
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references Cited by : (explanations , Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile , click on "citations" and make appropriate adjustments.)
Antón Nákov & Andrea Pescatori, 2007.
"Oil and the Great Moderation ,"
Banco de España Working Papers
0735, Banco de España.
[Downloadable!]
Other versions: Anna Kormilitsina, 2009.
"Oil Price Shocks and the Optimality of Monetary Policy ,"
Departmental Working Papers
0901, Southern Methodist University, Department of Economics.
[Downloadable!]
Alan S. Blinder & Jeremy B. Rudd, 2008.
"The Supply-Shock Explanation of the Great Stagflation Revisited ,"
NBER Working Papers
14563, National Bureau of Economic Research, Inc.
[Downloadable!] (restricted)
Other versions: Anton Nakov & Andrea Pescatori, 2007.
"Inflation-output gap trade-off with a dominant oil supplier ,"
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0710, Federal Reserve Bank of Cleveland.
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Other versions: Nicoletta Batini & Eugen Tereanu, 2009.
"What Should Inflation Targeting Countries Do When Oil Prices Rise and Drop Fast? ,"
IMF Working Papers
09/101, International Monetary Fund.
[Downloadable!]
Munechika Katayama, .
"Declining Effects of Oil-Price Shocks ,"
Departmental Working Papers
2009-02, Department of Economics, Louisiana State University.
[Downloadable!]
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