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Staggered Price and Monetary Policy in Ir (in Persian)

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  • Boostani, Reza

    (Iran)

Abstract

In this paper, a small DSGE model augmented with staggered nominal prices is utilized in order to estimate the price rigidity in Iran’s economy. The estimation of parameter of price rigidity shows that price rigidity is lower than what commonly used in literature. This would limit the effectiveness of monetary policy as a tool to stimulate the economy in short-run. JEL Classification Codes: C11, E32, E12

Suggested Citation

  • Boostani, Reza, 2013. "Staggered Price and Monetary Policy in Ir (in Persian)," Journal of Monetary and Banking Research (فصلنامه پژوهش‌های پولی-بانکی), Monetary and Banking Research Institute, Central Bank of the Islamic Republic of Iran, vol. 6(15), pages 115-128, June.
    • Handle: RePEc:mbr:jmbres:v:6:y:2013:i:15:p:115-128
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    More about this item

    JEL classification:

    • C11 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods and Methodology: General - - - Bayesian Analysis: General
    • E12 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - Keynes; Keynesian; Post-Keynesian; Modern Monetary Theory
    • E32 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Business Fluctuations; Cycles

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