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Determining the fiscal Rule of the Budget Balance for the Iran Economy, Stochastic Dynamic General Balance Approach (DSGE)
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Hossien Tavakolian   |
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Abstract: (2887 Views) |
| Over the past three decades, the use of fiscal rules in the budgeting of countries has become increasingly widespread, with only five countries using central government fiscal rules in the 1990s, but today the number of countries with national rules and It has reached more than ninety countries. The purpose of this paper is to introduce and select the appropriate budget balance rule for the Iran economy and based on DSGE modeling approach considering the three structural budget balance, budget surplus and countercyclical rules. Has been used. The results show that due to a productivity shock, the policy loss function is minimized using the budget balance rule and in the case of an oil shock (price and technology) the countercyclical rule, taking into account the tax revenue gap. One of the most important suggestions of this paper is to consider the issue of rules within the framework of reforming the budgeting system in the country. |
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| Keywords: fiscal policy, fiscal rules, DSGE. |
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Full-Text [PDF 1506 kb]
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Type of Study: Research |
Subject:
Special
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