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:: year 4, Issue 9 (fall 2011) ::
JMBR 2011, 4(9): 45-90 Back to browse issues page
The Effects of Oil Revenues Shocks on Real Non-oil Output
Ramin Mojab 1, Seyed Mahdi Barackchian
Abstract:   (3294 Views)

 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

Keywords: Non, oil GDP, Oil Revenue Shocks, Monetary Shocks, Partial VAR Model, Stochastic Differential Equation
Full-Text [PDF 521 kb]   (2239 Downloads)    
Type of Study: Empirical Study |
Received: 2014/08/5 | Accepted: 2014/08/5 | Published: 2014/08/5
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year 4, Issue 9 (fall 2011) Back to browse issues page
فصلنامه پژوهش‌های پولی-بانکی Journal of Monetary & Banking Research
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