Oil prices, monetary policy, and the macroeconomy
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? The authors discuss how to disentangle these two effects.
Volume (Year): (2005)
Issue (Month): Jul ()
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References listed on IDEAS
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Brookings Papers on Economic Activity,
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