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The Effects Of Oil Price Shocks On Monetary Policy In Iran

Author

Listed:
  • Ebrahim Siami
  • Fatemeh Fahimifar

    (Islamic Azad University, Central Tehran Branch, Iran)

Abstract

Changes and increases in the price of oil are effective on the aggregate economic. So, it's important to study on oil price shocks, because they affect on economic growth& monetary policy. In this paper a structural and generalized VAR modeless has been considered for Iran in order to study the direct effects of oil price shocks on output and prices and reaction of monetary variables to external shocks over the period 1991:I–2008:I (1370:I_1386: IV). Empirical analysis shows that inflation rate increase and exchange rate decrease and gross domestic product has fluctuations.

Suggested Citation

  • Ebrahim Siami & Fatemeh Fahimifar, 2010. "The Effects Of Oil Price Shocks On Monetary Policy In Iran," International Conference on Business and Economic Research (ICBER 2010) Proceeding 2010-062, Conference Master Resources.
    • Handle: RePEc:cms:1icb10:2010-062
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    File URL: http://www.internationalconference.com.my/proceeding/icber2010_proceeding/PAPER_062_EffectsOfOil.pdf
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    References listed on IDEAS

    as
    1. Cunado, J. & Perez de Gracia, F., 2005. "Oil prices, economic activity and inflation: evidence for some Asian countries," The Quarterly Review of Economics and Finance, Elsevier, vol. 45(1), pages 65-83, February.
    Full references (including those not matched with items on IDEAS)

    More about this item

    Keywords

    Oil price shocks; monetary policy;

    JEL classification:

    • E31 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Price Level; Inflation; Deflation
    • E32 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Business Fluctuations; Cycles

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