In this paper, based on error correction model by using panel data, an empirical analysis of demand for international reserves for 16 Islamic countries is investigated. Besides addressing conventional issues, the model explicitly incorporates the impact of expected export revenues and the impact...

This paper studies the business cycle characteristics of the Iranian economy and the co-movements of macroeconomic variables with oil prices. As is common in most developing and emerging countries, volatility of business cycles in Iran is high. Except for monetary aggregates, co-movements of...

For decades, energy prices have been controlled by the government in Iran. This policy had a long lasting impact on almost all economic variables in Iran. To date, under tremendous pressure to adequately meet the huge domestic demands for energy inputs, the government has decided to...