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The Effects of Oil Revenues Shocks on Real Non-oil Output (in Persian)

Author

Listed:
  • Mojab, Ramin

    (Iran)

  • Barackchian, Seyed Mahdi

    (Iran)

Abstract

The effects of oil revenue and monetary policy shocks on non-oil output is studied by modelling Long-run output function (using a stochastic differential equation approach) and estimating a partial VAR model (1988:2-2008:3). The results show that a positive oil revenue shock has a negative effect on non-oil GDP in the first period¡ but increases it in the following periods. Also¡ the results show that a monetary shock has a small role in explaining output variations. The results are controvetial and need further research. JEL Classification: C32, F43, Q32

Suggested Citation

  • Mojab, Ramin & Barackchian, Seyed Mahdi, 2011. "The Effects of Oil Revenues Shocks on Real Non-oil Output (in Persian)," Journal of Monetary and Banking Research (فصلنامه پژوهش‌های پولی-بانکی), Monetary and Banking Research Institute, Central Bank of the Islamic Republic of Iran, vol. 4(9), pages 45-90, December.
    • Handle: RePEc:mbr:jmbres:v:4:y:2011:i:9:p:45-90
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    More about this item

    Keywords

    Non; oil GDP; Oil Revenue Shocks; Monetary Shocks; Partial VAR Model; Stochastic Differential Equation;
    All these keywords.

    JEL classification:

    • C32 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Time-Series Models; Dynamic Quantile Regressions; Dynamic Treatment Effect Models; Diffusion Processes; State Space Models
    • F43 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - Economic Growth of Open Economies
    • Q32 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Nonrenewable Resources and Conservation - - - Exhaustible Resources and Economic Development

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