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 InfoPaper provided by Federal Reserve Bank of Cleveland in its series Working Paper with number 0510.
Date of creation: 2005
Date of revision:
Other versions of this item:
- Carlstrom, Charles T. & Fuerst, Timothy S., 2006. "Oil Prices, Monetary Policy, and Counterfactual Experiments," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 38(7), pages 1945-1958, October.
- NEP-ALL-2006-01-01 (All new papers)
- NEP-BEC-2006-01-01 (Business Economics)
- NEP-CBA-2006-01-01 (Central Banking)
- NEP-ENE-2006-01-01 (Energy Economics)
- NEP-MAC-2006-01-01 (Macroeconomics)
- NEP-MON-2006-01-01 (Monetary Economics)
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.:
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01-9, Federal Reserve Bank of Philadelphia.
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