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Investigating the Impact of Covid-19 Outbreak Crisis on the Exchange Rate with Emphasis on Oil Price Changes
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Hamid Kakaei1   , Soheil Roodari , Amirmansoor Tehranchian *2 , Atefeh Namdari3 |
1- Islamic Azad University of Tehran
2- Mazandaran University , m.tehranchian@umz.ac.ir
3- Tehran |
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Abstract: (1810 Views) |
The purpose of this study is to investigate the effects of the Covid-19 outbreak crisis on the exchange rate with emphasis on oil price changes in the period of 2020/02/19 - 2020/12/20 on a daily basis. Markov switching approach has been used to estimate the pattern. The results show that the Covid-19 crisis and the growth of the number of patients alone do not have a significant effect on the exchange rate in the country, but in terms of oil price changes, the prevalence of Covid-19 leads to a significant increase in exchange rates in both regimes and exchange rates. Has been. This increase has been greater at the level and below the exchange rate regime. Accordingly, if the Covid-19 crisis can change oil prices by reducing oil supply and demand, it will have a positive and significant impact on the exchange rate at all levels. Because the main supply of foreign exchange in the Iranian economy is due to the country's oil revenues and restrictions on this factor can be effective in creating changes in the exchange rate in the country.
JEL Classification: D51, E3, E42.
Keywords: Covid-19, Exchange Rate, Oil Prices, Regime Change.
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| Keywords: Covid-19, Exchange Rate, Oil Prices, Regime Change. |
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Full-Text [PDF 1398 kb]
(508 Downloads)
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Type of Study: Research |
Subject:
Oil-Market
Received: 2021/12/24 | Accepted: 2022/09/1 | Published: 2022/09/1 | ePublished: 2022/09/1
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