Question: How often is negative supply shocks associated with recessions? Plot on a quarterly basis since 1971 the real price of oil measured as the ratio

How often is negative supply shocks associated with recessions? Plot on a quarterly basis since 1971 the real price of oil measured as the ratio of the nominal price of oil (FRED code: OILPRICE) to the U.S. Consumer Price Index (CPIAUCSL). Identify recessions that may have been triggered in part by an oil price shock.

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