Why hasn't the jump in oil prices led to a recession?

John Fernald () and Bharat Trehan ()

FRBSF Economic Letter, 2005, issue nov18

Abstract: Oil prices have increased substantially over the last several years. When oil price increases of this magnitude occurred during the 1970s, they were associated with severe recessions. Why hasn't that happened this time around? This Letter explores some answers to that question.

Keywords: Recessions; Petroleum products - Prices (search for similar items in EconPapers)
Date: 2005
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