Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/245398 
Year of Publication: 
2021
Series/Report no.: 
CESifo Working Paper No. 9217
Publisher: 
Center for Economic Studies and ifo Institute (CESifo), Munich
Abstract: 
This paper considers how sanctions affected the Iranian economy using a novel measure of sanctions intensity based on daily newspaper coverage. It finds sanctions to have significant effects on exchange rates, inflation, and output growth, with the Iranian rial over-reacting to sanctions, followed up with a rise in inflation and a fall in output. In absence of sanctions, Iran's average annual growth could have been around 4 - 5 per cent, as compared to the 3 per cent realized. Sanctions are also found to have adverse effects on employment, labor force participation, secondary and high-school education, with such effects amplified for females.
Subjects: 
newspaper coverage
identification of direct and indirect effects of sanctions
Iran output growth
exchange rate depreciation and inflation
labor force participation and employment
secondary education
and gender bias
JEL: 
E31
E65
F43
F51
F53
O11
O19
O53
Document Type: 
Working Paper
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