Modelling Oil and Monetary Shocks in the Iranian Economy: The VECMX Approach (in Persian)

Hamid Zamanzadeh ()
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Hamid Zamanzadeh: Iran

Journal of Monetary and Banking Research (فصلنامه پژوهش‌های پولی-بانکی), 2011, vol. 4, issue 9, 91-116

Abstract: The goal of this paper is to analyze the effects of oil and money on operation of macro variables of Iranian economy in short and long-run. A macro model has been designed to show three long-run relationships that contains output¡ real money balance and purchasing power parity in a vector error correction model with exogenous variables. This model has been estimated based on seasonal data during 1367 to 1387. The results confirm three long-run relationships said in Iranian economy. The responses of macroeconomic variables to oil and monetary shocks analyzed based on estimated model and impulse response functions. JEL Classification: E50, C32

Keywords: Iranian Economy; Monetary Shock; Oil Shock; Vector Error Correction Model (search for similar items in EconPapers)
Date: 2011
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Persistent link: https://EconPapers.repec.org/RePEc:mbr:jmbres:v:4:y:2011:i:9:p:91-116

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