oil price uncertainty in the iranian economy

Oil Price Uncertainty in the Iranian Economy

T he relationship between the price of oil and the level of economic activity is a fundamental empirical issue in macroeconomics. In this research, by using a multivariate GARCH-in-Mean VAR, we try to investigate direct effects of uncertainty of oil price on macroeconomics of Iran by using annually data from 1965 to 2013.Results show that uncertainty about oil prices had a negative a...

Factors Affecting The Non-oil Exports In Iranian Economy

Oil Price Shocks and Economic Fluctuations in Iran as a Small Open Oil Exporting Economy

Oil price shocks are the major source of economic instability in oil exporting developing countries, including Iran. In this paper a Multi Sector Dynamic Stochastic General Equilibrium model, with emphasis on optimization of oil sector as a producing sector is designed. Furthermore, an optimizing import sector is introduced into the model by considering the price rigidity in imported goods as a...

Shadow Price Specification of Natural Gas in Production Activities of the Iranian Economy

Natural gas plays a key role in Iran’s economy and using its shadow price in allocating it to different sectors can lead to optimal use of this resource. This study uses a non-linear input-output model to estimate the shadow price of natural gas in different economic sectors in Iran. The study uses values of the input-output table constructed by the Statistics Center of Iran for the year 2011. ...

The Effect of Oil Price Uncertainty on Food Price in South Africa

This paper examines the effect of the volatility of oil prices on food price in South Africa using monthly data covering the period 2002:01 to 2014:09. Food price is measured by the South African consumer price index for food while oil price is proxied by the Brent crude oil. The study employs the GARCH-in-mean VAR model, which allows the investigation of the effect of a negative and positive s...

The Most Revenue Efficiency with Price Uncertainty

    In this paper, a new revenue efficiency data envelopment analysis (RE-DEA) approach is considered for finding the most revenue efficient unit with price uncertainty in both optimistic and pessimistic perspectives. The optimistic and pessimistic perspectives use efficient frontier and inefficient frontier, respectively. An integrated model is introduced to find decision making units (DMUs) t...