The role of productivity growth changes in determining optimal monetary and fiscal policies from the ramsey problem

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IZADI HAMID REZA; MARZBAN HOSSEIN

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Journal: Journal of Quantitative Economics Year:2019 | Volume:16 | Issue:2 Page(s): 37-71

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Title

The role of productivity growth changes in determining optimal monetary and fiscal policies from the ramsey problem

Author(s)

IZADI HAMID REZA | MARZBAN HOSSEIN | Issue Writer Certificate

Keywords

productivity growthQ1

monetaryQ2

fiscal policyQ1

ramsey problemQ1

DSGEQ1

Abstract

This paper by changing the trend of annual productivity growth computes the optimal monetary and fiscal policy for the Iranian economy in the context of ramsey problem using a Dynamic Stochastic General Equilibrium model in an estimated medium-scale model The results indicate that in the presence of sticky prices. Zero inflation and close to zero, as a result of the optimal outcome and underprice flexibility. In addition, the negative tax rate on capital return introduced as a result of the optimal policy in this model. By increasing the productivity rate, as well as increasing knowledge and labor productivity, the level of production and supply increased and, as a result, did not increase even with increasing demand for total inflation. In fact, any policy that encourages the motivation of work and activity for the people of the community will lead to an increase in production and employment, and this increase in annual productivity will reduce inflation.

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APA: Copy

IZADI, HAMID REZA, & MARZBAN, HOSSEIN. (2019). The role of productivity growth changes in determining optimal monetary and fiscal policies from the ramsey problem. JOURNAL OF QUANTITATIVE ECONOMICS (QUARTERLY JOURNAL OF ECONOMICS REVIEW), 16(2 ), 37-71. SID. https://sid.ir/paper/382122/en

Vancouver: Copy

IZADI HAMID REZA, MARZBAN HOSSEIN. The role of productivity growth changes in determining optimal monetary and fiscal policies from the ramsey problem. JOURNAL OF QUANTITATIVE ECONOMICS (QUARTERLY JOURNAL OF ECONOMICS REVIEW)[Internet]. 2019;16(2 ):37-71. Available from: https://sid.ir/paper/382122/en

IEEE: Copy

HAMID REZA IZADI, and HOSSEIN MARZBAN, “The role of productivity growth changes in determining optimal monetary and fiscal policies from the ramsey problem,” JOURNAL OF QUANTITATIVE ECONOMICS (QUARTERLY JOURNAL OF ECONOMICS REVIEW), vol. 16, no. 2 , pp. 37–71, 2019, [Online]. Available: https://sid.ir/paper/382122/en

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