ENERGY PRICE REFORM AND OPTIMAL MONETARY POLICY: DSGE APPROACH

Q: How can I download an article?

To download an article from SID, first log in to the site, search for the article title, and click on the 'Download Article' option.

Q: How can I download an ISI article?

To download an ISI article on SID, enter the keyword or article title in the search bar, view the relevant results, click on the desired article, and select the 'Download Article' option.

Q: How can I access the SID database?

To access the SID database, visit SID.ir, create an account, and log in to access scientific resources.

Q: Is downloading articles from SID free?

Some articles on SID are available for free, while others require payment. Details are specified on the article's page.

FARAZMAND HASAN; ARMAN SEYED AZIZ; AFGHEH SYED MORTEZA; GHORBANNEZHAD MOJTABA

Scientific Information Database (SID) - Trusted Source for Research and Academic Resources

Journal Paper

Paper Information

Journal: Journal of Quantitative Economics Year:2016 | Volume:13 | Issue:2 (49) Page(s): 41-69

Download Full-Text

مرکز اطلاعات علمی Scientific Information Database (SID) - Trusted Source for Research and Academic Resources

Persian Verion

View:

784

Download:

Cites:

Information Journal Paper

Title

ENERGY PRICE REFORM AND OPTIMAL MONETARY POLICY: DSGE APPROACH

Author(s)

FARAZMAND HASAN | ARMAN SEYED AZIZ | AFGHEH SYED MORTEZA | GHORBANNEZHAD MOJTABA | Issue Writer Certificate

Keywords

ENERGY PRICE SHOCKQ1

DSGEQ1

OPTIMAL MONETARY POLICYQ1

Abstract

The aim of this study is to design a dynamic stochastic general equilibrium model to consider the effects of energy price reform on macroeconomic and optimal reaction of central bank in Iran. In this regard, we design a dynamic stochastic general equilibrium model for economy of Iran, so that energy is included in the household bundle as a separate commodity and in the production function as an input. To investigate the role of monetary Authority, first, we used a reaction function for the central bank, so that indicating the discretionary behavior of central bank. Using calibration and solving the model, the effects of ENERGY PRICE SHOCK on macroeconomic variables were investigated. To evaluate the optimal response of the central bank to the ENERGY PRICE SHOCK, optimal monetary rule is obtained using stochastic optimal control. Finally, by substituting the optimal rule rather than the central bank reaction function, the impact of ENERGY PRICE SHOCK is investigated. The results indicate that the central bank can use the OPTIMAL MONETARY POLICY rule have better responses to ENERGY PRICE SHOCK and reduce the effect of its stagflation.

Cites

No record.

References

ارزیابی آثار تکانه های پولی و مالی با تاکید بر تعامل ترازنامه نظام بانکی و بخش حقیقی اقتصاد ایران: رویکرد DSGE

Cite

APA: Copy

FARAZMAND, HASAN, ARMAN, SEYED AZIZ, AFGHEH, SYED MORTEZA, & GHORBANNEZHAD, MOJTABA. (2016). ENERGY PRICE REFORM AND OPTIMAL MONETARY POLICY: DSGE APPROACH. JOURNAL OF QUANTITATIVE ECONOMICS (QUARTERLY JOURNAL OF ECONOMICS REVIEW), 13(2 (49)), 41-69. SID. https://sid.ir/paper/110672/en

Vancouver: Copy

FARAZMAND HASAN, ARMAN SEYED AZIZ, AFGHEH SYED MORTEZA, GHORBANNEZHAD MOJTABA. ENERGY PRICE REFORM AND OPTIMAL MONETARY POLICY: DSGE APPROACH. JOURNAL OF QUANTITATIVE ECONOMICS (QUARTERLY JOURNAL OF ECONOMICS REVIEW)[Internet]. 2016;13(2 (49)):41-69. Available from: https://sid.ir/paper/110672/en

IEEE: Copy

HASAN FARAZMAND, SEYED AZIZ ARMAN, SYED MORTEZA AFGHEH, and MOJTABA GHORBANNEZHAD, “ENERGY PRICE REFORM AND OPTIMAL MONETARY POLICY: DSGE APPROACH,” JOURNAL OF QUANTITATIVE ECONOMICS (QUARTERLY JOURNAL OF ECONOMICS REVIEW), vol. 13, no. 2 (49), pp. 41–69, 2016, [Online]. Available: https://sid.ir/paper/110672/en

Related Journal Papers