The Impacts of Energy Sanctions on the Black-Market Premium Evidence from Iran

Omid Zamani; Mohammad Reza Farzanegan; Jens Peter Loy; Majid Einian

The Impacts of Energy Sanctions on the Black-Market Premium Evidence from Iran

Omid Zamani^*
, Mohammad Reza Farzanegan
, Jens Peter Loy
, Majid Einian

^*Corresponding author for this work

Not published at Aalto University

University of Marburg
Kiel University
Central Bank of Iran
Thünen Institute of Market Analysis

Research output: Contribution to journal › Article › Scientific › peer-review

11 Citations (Scopus)

Abstract

This study extends the literature by analyzing the effects of energy sanctions on the black-market premium on the Iranian Rial – U.S. dollar exchange rate. Using a nonlinear autoregressive distributed lag (NARDL) model from 1959 to 2017, we find that falling oil revenues as a result of sanctions have an increasing impact on the black-market premium.

Original language	English
Pages (from-to)	432-443
Number of pages	12
Journal	Economics Bulletin
Volume	41
Issue number	2
Publication status	Published - 2021
MoE publication type	A1 Journal article-refereed

Keywords

exchange rate
shocks
trade
tests

Cite this

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title = "The Impacts of Energy Sanctions on the Black-Market Premium Evidence from Iran",

abstract = "This study extends the literature by analyzing the effects of energy sanctions on the black-market premium on the Iranian Rial {\textendash} U.S. dollar exchange rate. Using a nonlinear autoregressive distributed lag (NARDL) model from 1959 to 2017, we find that falling oil revenues as a result of sanctions have an increasing impact on the black-market premium.",

keywords = "exchange rate, shocks, trade, tests",

author = "Omid Zamani and Farzanegan, \{Mohammad Reza\} and Loy, \{Jens Peter\} and Majid Einian",

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T1 - The Impacts of Energy Sanctions on the Black-Market Premium Evidence from Iran

AU - Zamani, Omid

AU - Farzanegan, Mohammad Reza

AU - Loy, Jens Peter

AU - Einian, Majid

PY - 2021

Y1 - 2021

N2 - This study extends the literature by analyzing the effects of energy sanctions on the black-market premium on the Iranian Rial – U.S. dollar exchange rate. Using a nonlinear autoregressive distributed lag (NARDL) model from 1959 to 2017, we find that falling oil revenues as a result of sanctions have an increasing impact on the black-market premium.

AB - This study extends the literature by analyzing the effects of energy sanctions on the black-market premium on the Iranian Rial – U.S. dollar exchange rate. Using a nonlinear autoregressive distributed lag (NARDL) model from 1959 to 2017, we find that falling oil revenues as a result of sanctions have an increasing impact on the black-market premium.

KW - exchange rate

KW - shocks

KW - trade

KW - tests

UR - https://www.scopus.com/pages/publications/85109893064

M3 - Article

AN - SCOPUS:85109893064

VL - 41

SP - 432

EP - 443

JO - Economics Bulletin

JF - Economics Bulletin

IS - 2

ER -

The Impacts of Energy Sanctions on the Black-Market Premium Evidence from Iran

Abstract

Keywords

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