Oil and money in analyzing the impact of Oil Prices on Inflation, Growth, and Money
Resumo
In this research, with the proposed model of Kou and Peron (2007), the structural impacts of the Iranian economy due to the exogenous price of oil, with regard to production variables, inflation and volume of money as dependent and endogenous variables during the study period from April 1961 to March 2017 were investigated. The result was that five structural impacts were identified in September 1973, August 1979, August 1990, August 1994, and June 2006. The highest coefficient of oil price impact on production, inflation and growth of money was in the first and fifth regimes, respectively. Also, the highest period of oil price impact on production, inflation and growth of money was in the fourth, second and fifth regimes, respectively.
Downloads
##plugins.generic.paperbuzz.metrics##
Referências
Auty, R. M. (1993). Sustaining Development in Mineral Economies: The London Resource Curse Thesis, Routledge.
Bai, J. & Perron, P. (1998). “Estimating and Testing Linear Models with Multiple Structural Changes”. Econometrica, 66 (1), 47–78.
Berument, M. H., Ceylan, N. B. & Dogan, N. (2010). “The Impact of Oil Price Shocks on the Economic Growth of Selected MENA Countries”. The Energy Journal, 31(1), 149-176.
Burbidge, J. & Harrison, A. (1984). “Testing for the Effects of Oil-Price Rises Using Vector Autoregression”. International Economic Review, 25, 459–484.
Cashin, P., Mohaddes, K., Raissi, M. &, Raissi, M. (2014). “The Differential Effects of Oil Demand and Supply Shocks on the Global Economy”. Energy Economics, 44(3), 113-134.
Carrion-i-Silvestre, J. L., Kim, D. & Perron, P. (2009). “GLS-Based Unit Root Tests with Multiple Structural Breaks both under the Null and the Alternative Hypotheses”. Econometric Theory, 25, 1754-1792.
Chapra, M. U. (2009). “The Global Financial Crisis”. Center for Islamic Area Studies at Kyoto University (KIAS). Kyoto University Publication.
Corden, W.M. & Neary, J. P. (1982). “Booming Sector and De- Industrialization in a Small Open Economy”. The Economic Journal, 92, 825-848.
Farzanegan, M. R. & Markwardt, G. (2009). “The Effects of Oil Price Shocks on the Iranian Economy”. Energy Economics, 31, 134-151.
Ftiti, Z. (2010). “The Macroeconomic Performance of the Inflation Targeting Policy: An Approach Based on the Evolutionary co-Spectral Analysis (Extension for the Case of a Multivariate Process)”. Economic Modelling, 27, 468-476.
Copyright (c) 2019 Narimisa, M. R., Ahmad Basri, N. E., & Shayanrad, R
This work is licensed under a Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License.
