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Oil Price Uncertainty in the Iranian Economy

Author

Listed:
  • Elaheh Asadi Mehmandosti

    (Department of Economics, Alzahra University, Tehran, Iran.)

  • Fatemeh Bazzazan

    (Department of Economics, Alzahra University, Tehran, Iran.)

  • Mirhossein Mousavi

    (Department of Economics, Alzahra University, Tehran, Iran.)

Abstract

The relationship between the price of oil and the level of economic activity is a fundamental empirical issue in macroeconomics. In this research, by using a multivariate GARCH-in-Mean VAR, we try to investigate direct effects of uncertainty of oil price on macroeconomics of Iran by using annually data from 1965 to 2013.Results show that uncertainty about oil prices had a negative and significant effect on real output in our sample.

Suggested Citation

  • Elaheh Asadi Mehmandosti & Fatemeh Bazzazan & Mirhossein Mousavi, 2017. "Oil Price Uncertainty in the Iranian Economy," Iranian Economic Review (IER), Faculty of Economics,University of Tehran.Tehran,Iran, vol. 21(1), pages 137-125, Winter.
    • Handle: RePEc:eut:journl:v:21:y:2017:i:1:p:137
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