Oil Prices and Interest Rates Drive Unemployment in Iran: Study
The study looked at how oil prices, interest rates, and unemployment are connected in Iran from 1981 to 2013. They found that when oil prices go up, unemployment goes down by 2.28%. An increase in interest rates leads to a 0.94% rise in unemployment in the long run. Also, a 1% increase in private sector investment results in a 0.80% decrease in unemployment. The study showed that oil prices and interest rates are causes of unemployment in Iran.