The Impacts of Monetary Policies in Iran: A DSGE Approach (in Persian)

Asghar Shahmordi and Eilnaz Ebrahimi
Additional contact information
Asghar Shahmordi: Iran
Eilnaz Ebrahimi: Iran

Journal of Monetary and Banking Research (فصلنامه پژوهش‌های پولی-بانکی), 2010, vol. 2, issue 3, 31-56

Abstract: Recently¡ dynamic stochastic general equilibrium models (DSGE) capture so much attention. These models¡ which first used to describe real business cycles¡ paid particular attention to technological shocks as the main sources for economic fluctuations. In fact¡ the role of monetary policies just came to light when the new Keynesians started using DSGE models by introducing nominal rigidities and imperfect competition. This paper builds a DSGE model for Iran and estimated the log-linearized version by Bayesian approach. It argues that without modeling nominal rigidities¡ the impact of monetary policies on real variables is difficult to detect. It goes further and asserts that it is only possible to investigate the real impacts of monetary policies¡ when the model is equipped with nominal rigidities.

Keywords: Dynamic Stochastic General Equilibrium; Calibration; Bayesian Approach; Nominal Rigidities (search for similar items in EconPapers)
Date: 2010
References: Add references at CitEc
Citations:

Downloads: (external link)
http://jmbr.mbri.ac.ir/article-1-37-en.pdf (application/pdf)
http://jmbr.mbri.ac.ir/article-1-37-en.html (text/html)
http://jmbr.mbri.ac.ir/article-1-37-fa.html (text/html)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:mbr:jmbres:v:2:y:2010:i:3:p:31-56

Access Statistics for this article

More articles in Journal of Monetary and Banking Research (فصلنامه پژوهش‌های پولی-بانکی) from Monetary and Banking Research Institute, Central Bank of the Islamic Republic of Iran Contact information at EDIRC.
Bibliographic data for series maintained by M. E. ().