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Exchange Rate Fluctuations and Output in Oil-Producing Countries - The Case of Iran (Electronic book text)
Exchange Rate Fluctuations and Output in Oil-Producing Countries - The Case of Iran (Electronic book text): Mohsen...
Exchange Rate Fluctuations and Output in Oil-Producing Countries - The Case of Iran (Electronic book text): Mohsen...

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Exchange Rate Fluctuations and Output in Oil-Producing Countries - The Case of Iran (Electronic book text)

Mohsen Bahmani-Oskooee

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Conventional wisdom states that currency depreciation in oil-producing countries are contractionary because demand effects, limited by the prevalence of oil exports priced in dollars, are more than offset by adverse supply effects. Iran, however, has experienced a rapid increase in non-oil exports in the last decade. Against this background, the paper tests whether the conventional wisdom still applies to Iran and concludes that the emergence of the non-oil export sector has made currency depreciation expansionary. The expansionary effect is particularly evident with respect to anticipated persistent depreciation in the long-run. Notwithstanding the varying effects of exchange rate fluctuations on the demand and supply sides of the economy, managing a flexible exchange rate gradually over time towards achieving stability in the real effective exchange rate may strike the necessary balance.

General

Imprint: Not Avail
Country of origin: United States
Release date: May 2007
Authors: Mohsen Bahmani-Oskooee
Format: Electronic book text
Pages: 34
ISBN-13: 978-6613822420
Barcode: 9786613822420
Categories: Books
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LSN: 6613822426

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