The uniform fuel subsidies lead to social and economic distortions including smuggling to neighboring countries with higher fuel prices. However, fuel smuggling can also serve to mitigate poverty in deprived places around the borders. Despite myriad studies on various economic impacts of fuel...

We show that incorporating endogenously-determined structural breaks into an asymmetric GARCH model reduces volatility persistence in Bitcoin prices. We find that both good news and bad news have less impact on volatility if structural breaks are incorporated. Hence, our results may indicate...

In an open economy, the foreign exchange rate (FER) influences incentives for the cross-border shopping of gasoline as well as the opportunity cost of using vehicles and the relative attractiveness of home versus foreign travel. Using monthly regional-level data of gasoline consumption in Iran,...

We exploit three major transport fuel (gasoline and diesel) subsidy reforms in Iran, as quasi-experiments, to investigate the impact of permanent upward price changes on the responsiveness of fuel consumption. We employ monthly regional-level data of fuel consumption in Iran and also explicitly...

We use a unique dataset on the utilization and the rental rates of offshore drilling rigs to test whether changes in uncertainty can result in changes in investment costs rather than in changes in investment levels. Our empirical analysis con firms that price uncertainty negatively affects rig...

This study investigates why the exchange rates of oil-exporting countries do not follow the monetary model after the oil prices hikes in 2000. In empirical research, real GDP is considered as real output, while changes in oil rents are not included in GDP growth. However, in practice, oil rents...