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Business Cycle with Bank Intermediation in Oil Economies

Author

Listed:
  • Mr. Hamid R Tabarraei
  • Hamed Ghiaie
  • Asghar Shahmoradi

Abstract

The structural model in this paper proposes a micro-founded framework that incorporates an active banking sector with an oil-producing sector. The primary goal of adding a banking sector is to examine the role of an interbank market on shocks, introduce a national development fund and study its link to the banking sector and the government. The government and the national development fund directly play key roles in the propagation of the oil shock. In contrast, the banking sector and the labor market, through perfect substitution between the oil and non-oil sectors, have major indirect impacts in spreading shocks.

Suggested Citation

  • Mr. Hamid R Tabarraei & Hamed Ghiaie & Asghar Shahmoradi, 2018. "Business Cycle with Bank Intermediation in Oil Economies," IMF Working Papers 2018/999, International Monetary Fund.
    • Handle: RePEc:imf:imfwpa:2018/999
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    Cited by:

    1. King Yoong Lim & Shuonan Zhang, 2023. "Optimal fiscal management in an economy with resource revenue‐financed government‐linked companies," International Journal of Finance & Economics, John Wiley & Sons, Ltd., vol. 28(2), pages 2202-2225, April.

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