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Title: Oil return, fed funds and the dollar from 1987 to 2013
Authors: Ali, Nabil Al
Mardini, Patrick 
Affiliations: Department of Economics 
Keywords: Public finance
Inflation (monetary)
Petroleum industry
Issue Date: 2015
Publisher: IEEE
Part of: International Mediterranean Gas and Oil Conference (MedGO), 2015
Start page: 1
End page: 4
Conference: International Mediterranean Gas and Oil Conference (MedGO) (16-18 April 2015 : Mechref, Lebanon) 
After the oil crises in the 70's and at the beginning of the 80's, many authors argued that the FED's reaction to oil prices is not optimal and suggested to drop the energy component from the reaction function. This paper studies the period of 1987-2013 and shows that: (1) the FED responded to oil price inflation, (2) expansionary monetary policy fueled the surge in oil price only when it was accompanied by a depreciation of the US dollar and (3) the drop in the dollar's value increased oil prices only when fed funds rates were decreased.
Ezproxy URL: Link to full text
Type: Conference Paper
Appears in Collections:Department of Economics

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