Oil prices, monetary policy, and counterfactual experiments

Charles Carlstrom and Timothy Fuerst

No 510, Working Papers (Old Series) from Federal Reserve Bank of Cleveland

Abstract: 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.

Keywords: Petroleum products - Prices; Monetary policy; Business cycles (search for similar items in EconPapers)
Date: 2005
New Economics Papers: this item is included in nep-bec, nep-cba, nep-ene, nep-mac and nep-mon
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Citations: View citations in EconPapers (7)

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Related works:
Journal Article: Oil Prices, Monetary Policy, and Counterfactual Experiments (2006)
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Persistent link: https://EconPapers.repec.org/RePEc:fip:fedcwp:0510

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DOI: 10.26509/frbc-wp-200510

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