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Investigation of Producers Financial Challenging’s with Emphasis on the Role of Monetary Policy and the Banking Sector Credits: Application of DSGE Model

Author

Listed:
  • Khalilzadeh, Javad

    (Ph.D. Candidate in Economics, Urmia University)

  • Heidari , Hassan

    (Associate Professor of Economics, Urmia University)

  • Feizi , Soleiman

    (Assistant Professor of Economics, Urmia University)

  • Bashiri, Sahar

    (Economics & Competitiveness Studies Research Department)

Abstract

This study has investigated the challenges of financing of Iranian manufacturing institutions, considering the function of monetary policy and banking sector's credits in the form of a DSGE model. For this, the real per-capita of seasonal data of 1995 to 2014 that have been deterending by Hodrick-Prescott Filtering and the calibration method were used to extract the parameters. After modeling and explaining the equations of each section, in relation to optimization and simulation of the model using variable moments were performed. The results obtained confirmed the relative success of the simulated model with the realities of Iran's economy. Afterwards, the functions of the instant reaction to productivity shock and the shock of growth in money volumes were reviewed. The results showed that the positive shock of productivity and the growth of the volume of money increased the production via the channel of increasing investment and lowering interest rates respectively. That the results were consistent with the theoretical expectations and economic realities of Iran.

Suggested Citation

  • Khalilzadeh, Javad & Heidari , Hassan & Feizi , Soleiman & Bashiri, Sahar, 2018. "Investigation of Producers Financial Challenging’s with Emphasis on the Role of Monetary Policy and the Banking Sector Credits: Application of DSGE Model," Quarterly Journal of Applied Theories of Economics, Faculty of Economics, Management and Business, University of Tabriz, vol. 4(4), pages 61-90, March.
    • Handle: RePEc:ris:qjatoe:0090
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    More about this item

    Keywords

    Monetary policy; Financing; Banking sector; DSGE model;
    All these keywords.

    JEL classification:

    • E23 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Production
    • E52 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Monetary Policy
    • G17 - Financial Economics - - General Financial Markets - - - Financial Forecasting and Simulation
    • L10 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - General

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