The Impact of Oil Price Shocks on the Iranian Economy: New evidence
AbstractIn a cointegrated VAR model we examined the relationship between oil price and macroeconomy in Iran, which is the third largest oil exporter in the world. The sample is quarterly data, ranging from 1994:1 to 2007:4. We find that an increase in real oil prices by 1% is associated with a 0.30% increase in real GDP in the long run, whereas the short-run impact is marginal.
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Bibliographic InfoArticle provided by AccessEcon in its journal Economics Bulletin.
Volume (Year): 32 (2012)
Issue (Month): 3 ()
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Iran; oil prices; cointegration;
Find related papers by JEL classification:
- Q4 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy
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- Pantula, Sastry G., 1989. "Testing for Unit Roots in Time Series Data," Econometric Theory, Cambridge University Press, vol. 5(02), pages 256-271, August.
- Johansen, Soren, 1995. "Likelihood-Based Inference in Cointegrated Vector Autoregressive Models," OUP Catalogue, Oxford University Press, number 9780198774501.
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