A central problem ill 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 VAR model for Iran, lour structural shocks are identified: nominal demand, real demand, supply and oi...

Nowadays one of the most important issues in our economy, both from economic and political view is the link between monetary policy and business cycle fluctuations. Amongst the shocks related to the supply side, the shock of oil price is the important factor that has affected the world economy since the 1970s. This paper examines the effects of monetary policy and oil price shocks on the busine...

This paper provides a novel perspective to the nexus of oil prices and stock markets by examining impact price shocks on market anomalies. After decomposing into three types , we find that aggregate demand have strongest influence In contrast, supply oil-specific little impact. Similar results are also found in industry analysis. Interestingly, link between anomalies is among firms with either ...