The Impacts of Energy Sanctions on the Black-Market Premium: Evidence from Iran

Omid Zamani, Mohammad Reza Farzanegan (), Jens-Peter Loy () and Majid Einian
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Jens-Peter Loy: Institute of Agricultural Economics, Christian-Albrechts-University Kiel

Economics Bulletin, 2021, vol. 41, issue 2, 432-443

Abstract: This study extends the literature by analyzing the effects of energy sanctions on the black-market premium on the Iranian Rial – U.S. dollar exchange rate. Using a nonlinear autoregressive distributed lag (NARDL) model from 1959 to 2017, we find that falling oil revenues as a result of sanctions have an increasing impact on the black-market premium.

Keywords: Energy Shocks; Sanction; Iran; Black-Market Premium; NARDL. (search for similar items in EconPapers)
JEL-codes: F4 Q4 (search for similar items in EconPapers)
Date: 2021-04-09
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Citations: View citations in EconPapers (6)

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