In this paper, the asymmetric effects of oil price shocks on GDP have been investigated by co-integration analysis in Iran economy during the period 1960-2010. We used Hodrick-Prescott filtering to separate positive shocks from negative shocks. The results showed that in long run the negative...

A central problem in empirical macroeconomics is to determine when and how much the exchange rate is misaligned. This paper clarifies and calculates the concept of the equilibrium real exchange rate, using a structural vector auto regression (VAR) model. By imposing long-run restrictions on a...

In this study, we attempted to determine the key factors leading to economic growth for Iran economy over the period 1960–2006. In particular, we sought to clarify whether the growth of Iran was driven mainly by factor accumulation or by improvements in efficiency namely, debate of K (factor...