Optimal Control of the Budget Deficit and Trade Deficit On Iran's Economy; (Target: Economic Growth)

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TADAYON FOJAN; Ranjbar Homayon; RAJABI MOSTAFA; SAMETI MORTEZA

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Journal Paper

Paper Information

Journal: JOURNAL OF ECONOMIC GROWTH AND DEVELOPMENT RESEARCH Year:2021 | Volume:11 | Issue:41 Page(s): 83-96

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Information Journal Paper

Title

Optimal Control of the Budget Deficit and Trade Deficit On Iran's Economy; (Target: Economic Growth)

Author(s)

TADAYON FOJAN | Ranjbar Homayon | RAJABI MOSTAFA | SAMETI MORTEZA | Issue Writer Certificate

Keywords

Optimal Control Theory

Budget Deficit

Trade Deficit

Abstract

Developing countries, including Iran, are trying to make up for the lack of private investment and other problems by Trade Deficit and Budget Deficit policies. These policies are supported by Keynes and his supporters. They believe that expansionary effects will shift the macroeconomic Budget Deficit to equilibrium. But if the Budget Deficit policy is adopted without considering the total supply, it will cause more inflation and Trade Deficit without eliminating the recession. In this study, in order to investigate the optimal path of Budget Deficit and Trade Deficit in Iran's economy, based on the design of optimal paths of economic variables during the period of 1978-2017, an Optimal Control Theory has been used. Therefore, considering the dynamic behavior of economic variables in the country, the BP-IS-LM model is fitted according to economic theories and based on the econometric bases through the three-stage least squares method. The results of this estimate are used to policy in Optimal Control Theory. The results of this study indicate that Iran's economy will need to control the government expenditures to reach the desired level of target variables, and contractile financial policies will have better results in controlling twin deficits.

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APA: Copy

TADAYON, FOJAN, Ranjbar, Homayon, RAJABI, MOSTAFA, & SAMETI, MORTEZA. (2021). Optimal Control of the Budget Deficit and Trade Deficit On Iran's Economy; (Target: Economic Growth). JOURNAL OF ECONOMIC GROWTH AND DEVELOPMENT RESEARCH, 11(41 ), 83-96. SID. https://sid.ir/paper/957565/en

Vancouver: Copy

TADAYON FOJAN, Ranjbar Homayon, RAJABI MOSTAFA, SAMETI MORTEZA. Optimal Control of the Budget Deficit and Trade Deficit On Iran's Economy; (Target: Economic Growth). JOURNAL OF ECONOMIC GROWTH AND DEVELOPMENT RESEARCH[Internet]. 2021;11(41 ):83-96. Available from: https://sid.ir/paper/957565/en

IEEE: Copy

FOJAN TADAYON, Homayon Ranjbar, MOSTAFA RAJABI, and MORTEZA SAMETI, “Optimal Control of the Budget Deficit and Trade Deficit On Iran's Economy; (Target: Economic Growth),” JOURNAL OF ECONOMIC GROWTH AND DEVELOPMENT RESEARCH, vol. 11, no. 41 , pp. 83–96, 2021, [Online]. Available: https://sid.ir/paper/957565/en

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