Macroeconomic Adjustments and Oil Revenue shocks: The Case of Iran
The Case Of Iran
- Editore:
LAP Lambert Academic Publishing
- EAN:
9783848417964
- ISBN:
3848417960
- Pagine:
- 416
- Formato:
- Paperback
- Lingua:
- Tedesco
Descrizione Macroeconomic Adjustments and Oil Revenue shocks: The Case of Iran
In an oil exporting developing country the issue of how to stabilise the domestic economy from oil market volatilities has been a big concern for both scholars and policy makers during the last few decades. Modelling the behaviour of key arguments involved in the transmission mechanism of oil revenues into the domestic economy is a necessary introduction to dealing with this problem.This thesis attempts to provide a careful analysis with empirical evidence of the issue of the macroeconomic effects of oil revenue fluctuations on key economic variables such as domestic and foreign prices, money demand equation, exchange rates and non-oil gdp growth set in a Dutch Disease framework for the Iranian economy during 1960-1990 period. The analysis, using annual data, employs modern econometric techniques (such as cointegration and error correction) to examine dynamics (short run) and static (long run) components of:these variables in connection with oil revenue fluctuations.Two modified versions of the Purchasing Power Parity and conventional money demand relationships are used to model black market exchange rate and monetary aspects of oil revenue changes, respectively...
