Investigate the economical effects of world food and oil price on macroeconomic variables in Iran
Author(s):
Abstract:
This study investigates economic effects of world food and oil price on macroeconomic variables (industrial output growth, inflation, stock price indices, lending rate and real exchange rate) in Iran. Method is used to determine the influence of variables is Structural Vector Auto Regressive (SVAR). In this study, three models will be discussed separately: In the first model, the effect of global food price prices as exogenous variables on the macro variables will be measured. The second model examines the effect of oil deals on macroeconomic variables. And the third models investigate the impact of both variables (global food and oil prices) simultaneously. The data required for this study is monthly and the related period is 1380:01-1390:12. The results show that oil prices on inflation and exchange rate effects, but no significant effect on output growth and stock market. Global food price shocks have also shown similar effects on macroeconomic variables, the inflation, and the exchange rate is affected. The results of the study show that shocks in oil prices and global food prices In addition to the individual effect of each of these shocks on inflation and exchange rates, the oil shock would have significant effects on global food prices.
Keywords:
Price shock , Food , oil , SVAR , Iran
Language:
Persian
Published:
Iranian Journal of Agricultural Economics and Development, Volume:48 Issue: 2, 2017
Pages:
197 to 209
magiran.com/p1734716
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