Oil prices, monetary policy, and the macroeconomy

Charles Carlstrom and Timothy Fuerst

Economic Commentary, 2005, issue Jul

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? The authors discuss how to disentangle these two effects.

Keywords: Monetary policy; Petroleum products - Prices (search for similar items in EconPapers)
Date: 2005
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Journal Article: Oil prices, monetary policy, and the macroeconomy (2005)
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