Bahmani-Oskooee, Mohsen; Kandil, Magda - In: Emerging Markets Finance and Trade 46 (2010) 3, pp. 23-45
Conventional wisdom states that currency depreciation in oil-producing countries is 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 nonoil exports...