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The role of banking sector credits with emphasis on the role of monetary policies and oil revenues in Iranian economy with DSGE model.
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Javad Khalilzadeh *   , Hassan Heidari , Sahar Bashiri |
| islamic azad university, hadishahr branch , javad.khalilzadeh@gmail.com |
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Abstract: (2882 Views) |
This study discussed the role of oil revenues and banking sector credits with an emphasis on monetary policy in Iran's economy in the form of a dynamic dynamic equilibrium model. In this study was used real seasonal per capita data for the period of 1996 to 2017 and the seasonal adjustment utilized by the Hadrik-Proskat filter and Calibration method to extract the parameters of the general equilibrium model.
For this purpose, first, the model of justification and the equations of each section were explained based on theoretical foundations and some previous studies. Then optimization of each section was done by solving its equations and the model was simulated based on the economic realities of Iran and subsequently, the simulated model was fitted with the help of variables moments that the results confirm the relative success of the simulated model with the realities of Iran's economy. Also, the immediate response to the government's oil revenue shock on variables was examined, The results showed that any positive shocks to government oil revenues would lead to an expansionary fiscal policy by the government that This increases household incomes and, while stimulating the demand side, increases household consumption by increasing household consumption. An increase in the volume of household deposits also means more funds available to banks, which will result in lower interest rates and an increase in the supply of bank loans to increase investment in enterprises and increase production that the results are in line with the theoretical expectations and economic realities of the country.
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| Keywords: Oil revenues, Bank credits, Monetary Policy, DSGE model. |
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Full-Text [PDF 973 kb]
(617 Downloads)
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Type of Study: Research |
Subject:
Special
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