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Technische Universität Dresden >
Fakultät Wirtschaftswissenschaften, Technische Universität Dresden >
Dresden Discussion Paper Series in Economics, Faculty of Business and Economics, TU Dresden >
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http://hdl.handle.net/10419/36478
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| Title: | | The effects of oil price shocks on the Iranian economy  |
| Authors: | | Farzanegan, Mohammad Reza Markwardt, Gunther |
| Issue Date: | | 2008 |
| Series/Report no.: | | Dresden discussion paper series in economics 15/08 |
| Abstract: | | The Iranian economy is highly vulnerable to oil price fluctuations. This paper analyzes the dynamic relationship between oil price shocks and major macroeconomic variables in Iran by applying a VAR approach. The study points out the asymmetric effects of oil price shocks; for instance, positive as well as negative oil price shocks significantly increase inflation. We find a strong positive relationship between positive oil price changes and industrial output growth. Unexpectedly, we can only identify a marginal impact of oil price fluctuations on real government expenditures. Furthermore, we observe the Dutch Disease syndrome through significant real effective exchange rate appreciation. |
| Subjects: | | macroeconomic uctuations oil price shocks developing economies Iran VAR modelling |
| JEL: | | E32 E37 Q32 |
| Document Type: | | Working Paper |
| Appears in Collections: | | Dresden Discussion Paper Series in Economics, Faculty of Business and Economics, TU Dresden
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