Considering Russia’s rich and vast oil resources, this country is one of the world’s greatest producers and exporters of this nonrenewable energy resource, and like other petrostates, receives a major part of its national income in this way. The dependence of Russia’s budget on oil has raised the significance of world oil price fluctuations for this country. Since 1970s, the global oil market h...

background: theoretically, a vital factor in development has been the resilience and strength of socio-economic system to confront instabilities and crises. the precaution, however, is that an error might be committed, where, instead of finding the root causes of diseases we are mobilizing the forces to confront the signs of illness, leaving the diseases to grow and damage the lesser developed ...

One of the striking features of the business cycles is the patterns of co-movement of output, inflation, interest rates, and real equity prices across countries. This paper empirically examines the effects of domestic and foreign monetary policies on Iranchr('39')s macroeconomic variables (including real production, inflation, short-term interest rate, and real exchange rate) using quarterly da...

We develop an agent-based model of traditional banks and asset managers to investigate the contagion risk related fire sales balance sheet interactions. take a structural approach price formation in as Bluhm et al. (2014) introduce market clearing mechanism with endogenous prices. find that, first, which are active both interbank securities markets act plague-spreaders during financial distress...

Over the last two decades, developing countries have witnessed major macroeconomic shocks that have had significant impacts on the level of poverty and the distribution of incomes in these countries. Some of these shocks are the result of fluctuations in the world prices of crucial developing countries export products, whereas others are endogenously produced by economic policy reforms such as ...