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The Effects Of Oil Price Shocks On Monetary Policy In Iran

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Executive Summary

Changes and increases in the price of oil are effective on the aggregate economic. So, it's important to study on oil price shocks, because they affect on economic growth& monetary policy. In this paper, a structural and generalized VAR modeless has been considered for Iran in order to study the direct effects of oil price shocks on output and prices and reaction of monetary variables to external shocks over the period 1991:I - 2008:I. Empirical analysis shows that inflation rate increase and exchange rate decrease and gross domestic product has fluctuations.

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