Analyzing Fiscal and Monetary Policies in the form of an Open DSGE Model for the Iranian Economy

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Salehian Behrouz Mohammad; ERFANI ALIREZA

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Journal: Journal of New Economy and Trade Year:2019 | Volume:13 | Issue:4 Page(s): 159-179

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Information Journal Paper

Title

Analyzing Fiscal and Monetary Policies in the form of an Open DSGE Model for the Iranian Economy

Author(s)

Salehian Behrouz Mohammad | ERFANI ALIREZA | Issue Writer Certificate

Keywords

Monetary policyQ2

Fiscal PolicyQ2

Open EconomyQ2

DSGE ModelQ1

Stochastic SimulationQ1

JEL Classification:E52Q1

E42Q1

E32Q1

E31Q1

Abstract

In this study, we analyze the fiscal and monetary policies in Iran using an open DSGE Model in which the central bank’ s policy is in the form of a McCallum rule. We estimate the structural parameters using the Bayesian method and the quarterly time series data for the period 1369 – 1394 (1990-2015). To check the validity of the results, we use the Monte Carlo Markov Chain statistics, Gelman – Brooks statistics, and also compare prior and posterior distribution functions. The results indicate a good fit of the model with the data. The simulation results also show that fiscal and monetary policies have real impacts on variables in the short run.

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APA: Copy

Salehian Behrouz, Mohammad, & ERFANI, ALIREZA. (2019). Analyzing Fiscal and Monetary Policies in the form of an Open DSGE Model for the Iranian Economy. JOURNAL OF NEW ECONOMY & COMMERCE, 13(4 ), 159-179. SID. https://sid.ir/paper/383459/en

Vancouver: Copy

Salehian Behrouz Mohammad, ERFANI ALIREZA. Analyzing Fiscal and Monetary Policies in the form of an Open DSGE Model for the Iranian Economy. JOURNAL OF NEW ECONOMY & COMMERCE[Internet]. 2019;13(4 ):159-179. Available from: https://sid.ir/paper/383459/en

IEEE: Copy

Mohammad Salehian Behrouz, and ALIREZA ERFANI, “Analyzing Fiscal and Monetary Policies in the form of an Open DSGE Model for the Iranian Economy,” JOURNAL OF NEW ECONOMY & COMMERCE, vol. 13, no. 4 , pp. 159–179, 2019, [Online]. Available: https://sid.ir/paper/383459/en

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