The Impact of Oil Price Shocks on the Iranian Economy: New evidence
In 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.
Volume (Year): 32 (2012)
Issue (Month): 3 ()
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- Mohammad Reza FARZANEGAN & Gunther MARKWARDT, "undated". "The Effects of Oil Price Shocks on the Iranian Economy," EcoMod2008 23800037, EcoMod.
- Farzanegan, Mohammad Reza & Markwardt, Gunther, 2008. "The effects of oil price shocks on the Iranian economy," Dresden Discussion Paper Series in Economics 15/08, Technische Universität Dresden, Faculty of Business and Economics, Department of Economics.
- Johansen, Soren, 1995. "Likelihood-Based Inference in Cointegrated Vector Autoregressive Models," OUP Catalogue, Oxford University Press, number 9780198774501. Full references (including those not matched with items on IDEAS)
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