[Home ] [Archive]   [ فارسی ]  
:: Main :: About :: Current Issue :: Archive :: Search :: Submit :: Contact ::
:: Volume 25, Issue 84 (quartery journal of Economic Research and Policies 2018) ::
3 2018, 25(84): 7-42 Back to browse issues page
Designing and Calibrating a Core General Equilibrium Macro Model for the Iran’s Economy
Seyed Ali Madanizadeh , Mehran Ebrahimian
Asistant professor Sharif University of Technolohgy , madanizadeh@sharif.edu
Abstract:   (718 Views)

We document stylized facts of macro variables in Iran's economy and design a Dynamic General Equilibrium model with nominal sector. The model addresses the empirical findings and reflects the policy institutions in Iran's economy. The four sectors of the model, household, firm, government and central bank are specified and calibrated using stylized facts and the structure of fiscal and monitary policy in Iran. Long-run trends and fluctuations of Iran’s macro data implies separable logarithmic utility over consumption and leisure for the representative household, and Cobb-Douglas technology function for the representative firm of Iran’s economy. The demand for money is based on cash-in-advance model. Using this model, we analyze the short-run and long-run response of the economy to the real shock of total factor productivity (TFP), and also fiscal and monetary policy shocks, i.e., tax rate change and money growth shock. The proposed framework may be used as a core part in the models for macro analysis in Iran’s economy.
 

Keywords: Dynamic General Equilibrium Model, Calibration, Cash in Advance, The Macroeconomy of Iran.
Full-Text [PDF 1291 kb]   (483 Downloads)    
Type of Study: Research | Subject: Special
Received: 2016/11/15 | Accepted: 2018/03/11 | Published: 2018/03/11
Send email to the article author

Add your comments about this article
Your username or Email:

CAPTCHA code


XML   Persian Abstract   Print


Download citation:
BibTeX | RIS | EndNote | Medlars | ProCite | Reference Manager | RefWorks
Send citation to:

Madanizadeh S A, Ebrahimian M. Designing and Calibrating a Core General Equilibrium Macro Model for the Iran’s Economy . 3. 2018; 25 (84) :7-42
URL: http://qjerp.ir/article-1-1627-en.html


Volume 25, Issue 84 (quartery journal of Economic Research and Policies 2018) Back to browse issues page
فصلنامه پژوهشها و سیاستهای اقتصادی Journal of Economic Research and Policies
Persian site map - English site map - Created in 0.05 seconds with 30 queries by YEKTAWEB 3742