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
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Farzanegan, Mohammad Reza & Markwardt, Gunther, 2008.
"The effects of oil price shocks on the Iranian economy,"
Dresden Discussion Paper Series in Economics, Dresden University of Technology, Faculty of Business and Economics, Department of Economics
15/08, Dresden University of Technology, Faculty of Business and Economics, Department of Economics.
- Farzanegan, Mohammad Reza & Markwardt, Gunther, 2009. "The effects of oil price shocks on the Iranian economy," Energy Economics, Elsevier, Elsevier, vol. 31(1), pages 134-151, January.
- Johansen, Soren, 1995. "Likelihood-Based Inference in Cointegrated Vector Autoregressive Models," OUP Catalogue, Oxford University Press, Oxford University Press, number 9780198774501, October.
- Pantula, Sastry G., 1989. "Testing for Unit Roots in Time Series Data," Econometric Theory, Cambridge University Press, Cambridge University Press, vol. 5(02), pages 256-271, August.
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