In this paper we investigate the effect of oil price shocks on stock market index in Iran, by using of a structural VAR (SVAR) approach. We used four variables in the model namely Kilian index, global oil supply, real oil price and real stock market index. The data are monthly and spanning the period 1997M10-2014M12. We identify the effect of four different shocks on stock market including oil ...

This study aims to evaluate the effect of sentiments on Iran's economy through a New Keynesian Dynamic Stochastic General Equilibrium model in a closed economy. In this study, the coefficients of the proposed model are calibrated and estimated using the quarterly data of Iran's economy from 2004 to 2015. It shows that in the presence of sentiment, how stochastic impulses affect the main macroec...

With integrated trade and financial markets, a sudden collapse in aggregate demand in a large country can cause ‘natural real interest rates’ to fall below zero in other countries, giving rise to a global ‘liquidity trap’. This paper explores the optimal policy response following such a shock, when governments cooperate on both fiscal and monetary policy. Adjusting to a large negative demand sh...

Wage hikes affect production costs and hence are usually analysed as supply shocks. There is, however, a long-standing debate about demand effects of wage variations. In this paper, we bring together these two arguments in a Kaldorian model with group specific saving rates and a production technology that allows for redistribution between workers and entrepreneurs following a wage hike. We ther...

Various kinds of shocks can influence tourism demand cycles. However, previous studies have typically concentrated within economic frameworks in explaining variations cycles, ignoring the possibility different influencing This paper analyses various variation cycles to Bali on source market countries. Monthly tourist arrivals data from January 2002 2020 are decomposed into cyclical and irregula...

We determine empirically how the Big Three automakers accommodate shocks to demand. They have the capability to change prices, alter labor inputs through temporary layoffs and overtime, or adjust inventories. These adjustments are interrelated, non-convex, and dynamic in nature. Combining weekly plant-level data on production schedules and output with monthly data on sales and transaction price...

In the monitoring of pollutants in an aquatic environment, it is important to preserve water quality safety. Among the available analysis methods, the microbial fuel cell (MFC) sensor has recently been used as a sustainable and on-line electrochemical microbial biosensor for biochemical oxygen demand (BOD) and toxicity, respectively. However, the effect of the background organic matter concentr...

This paper analyzes the response of international oil producers to demand-induced changes in the real price of oil during 1975–2011. The goal is to disentangle fluctuations in OPEC and non-OPEC production and to derive consistent estimates of the short-run price elasticity of crude oil supply at the country level. I find that oil producers hardly respond to demand shocks within the same month, ...