Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/213470 
Year of Publication: 
2019
Series/Report no.: 
MAGKS Joint Discussion Paper Series in Economics No. 29-2019
Publisher: 
Philipps-University Marburg, School of Business and Economics, Marburg
Abstract: 
We estimate the opportunity cost for Iran due to the Islamic revolution and eight years' war with Iraq (1978/79-1988). We apply the synthetic control method in order to compare Iran with a synthetic Iran and answer this counterfactual question. Our results show that, in total, an average Iranian has lost $34,660 (in constant 2010 US$) from 1978 to 1988. This loss is equivalent to 40% of income per capita, which an Iranian could reach at the absence of revolution and war.
Subjects: 
synthetic control method
treatment effect
Iran
war
revolution
JEL: 
C23
H56
F51
D74
Q34
Document Type: 
Working Paper

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