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Erscheinungsjahr: 
2008
Schriftenreihe/Nr.: 
Dresden Discussion Paper Series in Economics No. 15/08
Verlag: 
Technische Universität Dresden, Fakultät Wirtschaftswissenschaften, Dresden
Zusammenfassung: 
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.
Schlagwörter: 
macroeconomic uctuations
oil price shocks
developing economies
Iran
VAR modelling
JEL: 
E32
E37
Q32
Dokumentart: 
Working Paper

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