Title of article :
Oil Price Uncertainty in the Iranian Economy
Author/Authors :
Asadi Mehmandosti, Elaheh Department of Economics - Alzahra University, Tehran , Bazzazan, Fatemeh Department of Economics - Alzahra University, Tehran , Mousavi, Mirhossein Department of Economics - Alzahra University, Tehran
Abstract :
The 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 and significant effect on real output in our sample.
Keywords :
Real Options , Uncertainty , Oil Price , Multivariate GARCH-in-Mean VAR
Journal title :
Astroparticle Physics
