The Role of National Development Fund in Confrontation Oil Shocks in Iran Economy from Government Expenditure Channel by Using a Dynamic Stochastic General Equilibrium Model

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TAVAKOLI S.; HOUSHMAND M.; SALIMIFAR M.; GORJI E.

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Journal: JOURNAL OF APPLIED ECONOMICS STUDIES IN IRAN Year:2020 | Volume:9 | Issue:33 Page(s): 57-91

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Title

The Role of National Development Fund in Confrontation Oil Shocks in Iran Economy from Government Expenditure Channel by Using a Dynamic Stochastic General Equilibrium Model

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Keywords

Dynamic Stochastic General Equilibrium (DSGE) ModelQ1

Oil ShockQ2

Fiscal PolicyQ1

Transmission Mechanism of Oil ShocksQ2

National Development FundQ1

Abstract

The aim of this study is to assess the effects of Oil Shocks on economic variables of Iran as an oil exporting country with a National Development Fund. For this purpose, in case that the government relies heavily on oil revenue, we provide a dynamic stochastic general-equilibrium (DSGE) model. In the following, we study two different policy for oil revenue volatility and provid a dynamic stochastic general-equilibrium model for policy A and B and estimate them. The results of the paper shows when the government saves its oil revenue in an oil fund and invests each period only the return from the fund plus a small additional fraction, the shock generates a milder and more long-lasting expansion, efectively insulating the economy from the volatility of oil prices.

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APA: Copy

TAVAKOLI, S., HOUSHMAND, M., SALIMIFAR, M., & GORJI, E.. (2020). The Role of National Development Fund in Confrontation Oil Shocks in Iran Economy from Government Expenditure Channel by Using a Dynamic Stochastic General Equilibrium Model. JOURNAL OF APPLIED ECONOMICS STUDIES IN IRAN, 9(33 ), 57-91. SID. https://sid.ir/paper/385208/en

Vancouver: Copy

TAVAKOLI S., HOUSHMAND M., SALIMIFAR M., GORJI E.. The Role of National Development Fund in Confrontation Oil Shocks in Iran Economy from Government Expenditure Channel by Using a Dynamic Stochastic General Equilibrium Model. JOURNAL OF APPLIED ECONOMICS STUDIES IN IRAN[Internet]. 2020;9(33 ):57-91. Available from: https://sid.ir/paper/385208/en

IEEE: Copy

S. TAVAKOLI, M. HOUSHMAND, M. SALIMIFAR, and E. GORJI, “The Role of National Development Fund in Confrontation Oil Shocks in Iran Economy from Government Expenditure Channel by Using a Dynamic Stochastic General Equilibrium Model,” JOURNAL OF APPLIED ECONOMICS STUDIES IN IRAN, vol. 9, no. 33 , pp. 57–91, 2020, [Online]. Available: https://sid.ir/paper/385208/en

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