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Unforeseen Oil Price Shocks and Economic Growth in Iran: an Application of Markov Switching Regression
2014
Pizhūhishnāmah-i Iqtiṣād-i Inirzhī-i Īrān
The Economy Affected by Oil Price Shocks when that's Similar Shocks Didn't occurred in nearest recent period. In other hands, the relationship between oil price shocks and the Iran economy changed by economic structural changes. For these reasons, present study has been investigate the effects of unforeseen oil price shocks on economic growth during the period 1367.1 -1389.4 using Markov switching model. The Results show that the impact of positive unforeseen oil price shocks on economic growth
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