Journal Article

Oil prices, monetary policy, and the macroeconomy


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;

Access Documents

Authors

Bibliographic Information

Provider: Federal Reserve Bank of Cleveland

Part of Series: Economic Commentary

Publication Date: 2005

Issue: Jul

Order Number: 1