TY - JOUR AU - USTIASHVILI, Samin PY - 2021/07/12 Y2 - 2024/03/28 TI - US Withdrawal from JCPOA and the Turmoil in Iran’s Economy JF - Journal in Humanities JA - HUM VL - 10 IS - 1 SE - Articles DO - 10.31578/hum.v10i1.444 UR - https://jh.ibsu.edu.ge/jms/index.php/SJH/article/view/444 SP - 88-102 AB - <p>Many individuals and companies make their economic decisions based on political developments. This article examines an important political event,<br>namely the withdrawal of the United States from JCPOA and its impact on the Iranian capital market. With the withdrawal of the United States from<br>the JCPOA and the United States’ threats to resume sanctions, Iran’s economy had experienced turmoil and drastic changes, which clearly saw in the<br>days before and after the resumption of sanctions in Iran’s financial markets. In this study, we intend to examine the changes resulted from the US<br>withdrawal from JCPOA, its impact on Iran’s oil-dependent economy, financial markets, analyze the spread, and severity of turbulence in the Iranian<br>economy, especially the Iranian financial markets using multivariate GARCH methods. In this regard, the multivariate GARCH model (DCC) and<br>analysis of variance are used to investigate these events’ effect on the Tehran Stock Exchange index.</p><p>Keywords: ARCH, Economic Dependence, Economic Sanctions, Intensity of Turbulence in Iran’s Economy, Linear combinations of univariate<br>GARCH models, Multivariate generalized autoregressive conditional heteroscedasticity, Nonlinear combinations of univariate GARCH models, US<br>Withdrawal from JCPOA, Multivariate GARCH</p> ER -