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Study the effect of the monetary and financial shocks in the real sector of Iran's economy with considering of gharz-al -hasanah deposits in the context of a DSGE model

Author

Listed:
  • Sadeghpour, Solmaz

    (Ph.D. Student of Economics, Urmia University)

  • Heidari, Hassan

    (Professor of Economics, Urmia University, Faculty of Economics and Management)

  • Mohseni Zenozi, Seyyed Jamaleddin

    (Associate Professor of Economics, Urmia University, Faculty of Economics and Management)

Abstract

In the present study, the aim is to investigate the effect of monetary and financial shocks on the real sector of Iran's economy under two different scenarios. For this purpose, in the framework of DSGE model, after optimizing and extracting the conditions of the first order, the linear-logarithmic shape of the equations has been obtained and the model has been simulated. The results indicate that the fluctuations of the variables under both simulated scenarios are consistent with the theoretical foundations of the economy, which shows the high accuracy of the model in fitting the Iranian economy. On the other hand, the instantaneous reaction functions of the variables show that the assumption of discussing the observance of bank resources and expenditures in the first scenario has significantly reduced the range of economic fluctuations (business cycles) and under this scenario the economy after facing shock. The outsiders are back in balance faster

Suggested Citation

  • Sadeghpour, Solmaz & Heidari, Hassan & Mohseni Zenozi, Seyyed Jamaleddin, 2021. "Study the effect of the monetary and financial shocks in the real sector of Iran's economy with considering of gharz-al -hasanah deposits in the context of a DSGE model," Quarterly Journal of Applied Theories of Economics, Faculty of Economics, Management and Business, University of Tabriz, vol. 8(1), pages 89-114, June.
    • Handle: RePEc:ris:qjatoe:0219
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    More about this item

    Keywords

    Resources and expenditure of gharz-al-hasanah; Financial shocks; Monetary shocks; DSGE model;
    All these keywords.

    JEL classification:

    • C22 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Time-Series Models; Dynamic Quantile Regressions; Dynamic Treatment Effect Models; Diffusion Processes
    • C53 - Mathematical and Quantitative Methods - - Econometric Modeling - - - Forecasting and Prediction Models; Simulation Methods
    • E32 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Business Fluctuations; Cycles
    • E52 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Monetary Policy

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