Oil Prices, Monetary Policy, and Counterfactual Experiments
AbstractRecessions 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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Bibliographic InfoArticle provided by Blackwell Publishing in its journal Journal of Money, Credit and Banking.
Volume (Year): 38 (2006)
Issue (Month): 7 (October)
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Web page: http://www.blackwellpublishing.com/journal.asp?ref=0022-2879
Other versions of this item:
- Charles T. Carlstrom & Timothy S. Fuerst, 2005. "Oil prices, monetary policy, and counterfactual experiments," Working Paper 0510, Federal Reserve Bank of Cleveland.
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