پیوندهای مفید
آمار
| تعداد نشریات | 21 |
| تعداد شماره‌ها | 667 |
| تعداد مقالات | 9,708 |
| تعداد مشاهده مقاله | 69,194,463 |
| تعداد دریافت فایل اصل مقاله | 48,532,328 |
Analysis of the convergence of optimal monetary policies in Iran's economy and welfare | ||
| International Journal of Nonlinear Analysis and Applications | ||
| مقالات آماده انتشار، اصلاح شده برای چاپ، انتشار آنلاین از تاریخ 26 اسفند 1403 اصل مقاله (575.47 K) | ||
| نوع مقاله: Research Paper | ||
| شناسه دیجیتال (DOI): 10.22075/ijnaa.2024.35519.5283 | ||
| نویسندگان | ||
| Mostafa Eskandari1؛ Abbas Memarnejad* 1؛ Seyed Shamsoldin Hoseini2 | ||
| 1Department of Economics, Science and Research Branch, Islamic Azad University, Tehran, Iran | ||
| 2Department of Economics, Allameh Tabatabaei University, Tehran, Iran | ||
| تاریخ دریافت: 14 شهریور 1403، تاریخ بازنگری: 21 آبان 1403، تاریخ پذیرش: 24 آبان 1403 | ||
| چکیده | ||
| This study analyzes the convergence of optimal monetary policies in Iran and their impact on societal welfare using a Dynamic Stochastic General Equilibrium (DSGE) model. It evaluates strategic monetary interventions for economic stability and growth, employing an analytical-descriptive and applied research method. The model was calibrated with annual data from 1390 to 1401 (Iranian calendar years) from the Statistical Center of Iran and the Central Bank. Results show that optimal monetary policies significantly enhance economic stability and welfare by controlling inflation, stabilizing exchange rates, and promoting growth. The study emphasizes the need for coordinated monetary and fiscal policies and greater central bank independence. It suggests exploring unconventional monetary policies during economic crises, providing valuable insights for policymakers and future research. | ||
| کلیدواژه‌ها | ||
| Optimal monetary policies؛ Dynamic Stochastic General Equilibrium (DSGE) model؛ Iran's economy؛ economic stability؛ fiscal policy؛ central bank independence؛ calibration؛ inflation control؛ economic growth؛ unconventional monetary policies | ||
| مراجع | ||
|
[1] S. Albrizio, S. Choi, D. Furceri, and C. Yoon, International bank lending channel of monetary policy, J. Int. Money Finance 102 (2020), 102124. [2] A. Anzuini and L. Rossi, Unconventional monetary policies and expectations on economic variables, Empir. Econ. 63 (2022), no. 6, 3027–3043. [3] K. Assenmacher, Modeling monetary transmission in Switzerland with a structural cointegrated VAR model, Swiss J. Econ. Stat. 144 (2008), no. 2, 197–246. [4] C. Atanasova, Credit market imperfections and business cycle dynamics: A nonlinear approach, Stud. Nonlinear Dyn. Econ. 7 (2003), no. 4. [5] A. Carare, C.D. Resende, and C. Zhang, Do monetary policy frameworks matter in low income countries?, Imf Working Paper 2020 (2020), no. 139, 1. [6] C. Dery and A. Serletis, Disentangling the effects of uncertainty, monetary policy and leverage shocks on the economy, Oxford Bull. Econ. Stat. 83 (2021), no. 5, 1029–1065. [7] P. Foresti, Monetary and fiscal policies interaction in monetary unions, J. Econ. Surv. 32 (2017), no. 1, 226–248. [8] J. Gali and T. Monacelli, Optimal monetary and fiscal policy in a currency union, J. Int. Econ. 76 (2008), no. 1, 116–132. [9] A. Guler, Interaction of monetary and fiscal policies in Turkey: a dynamic time series data analysis, Bus. Econ. Res. J. 10 (2020), no. 5, 1039–1049. [10] F.A. Hajj, G. Dufrenot, K. Sugimoto, and R. Wolf, Reactions to shocks and monetary policy regimes: Inflation targeting versus flexible currency board in Ghana, South Africa and the WAEMU, William Davidson Institute Working Paper Number 1062, November 2013. [11] T.P.J. Jato and J.M. Ayaga, External economic shocks and monetary policy tools in Nigeria, Int. J. Res. Innov. Soc. Sci. 06 (2022), no. 07, 110–119. [12] H. Ji and L. Wu, Monetary-policy rule as a bridge: Predicting inflation without predictive regressions, J. Financ. Quant. Anal. 53 (2018), no. 6, 2559–2586. [13] M. Kliem and A. Kriwoluzky, Reconciling narrative monetary policy disturbances with structural VAR model shocks?, Econ. Lett. 121 (2013), no. 2, 247–251. [14] M. Lanne and H. Lutkepohl, Identifying monetary policy shocks via changes in volatility, J. Money Credit Bank. 40 (2008), no. 6, 1131–1149. [15] W. Lei, Global spillovers of China’s monetary policy, China World Econ. 32 (2024), no. 3, 1–30. [16] A. Mountford, Leaning into the wind: A structural VAR investigation of UK monetary policy, Oxford Bull. Econ. Stat. 67 (2005), no. 5, 597–621. [17] T. Mukhtar and M.Z. Younas, Monetary policy transmission mechanism of Pakistan: Evidence from bank lending and asset price channels, Asian J. Econ. Modell. 7 (2019), no. 3, 121–139. [18] J.E. Ogbuabor, C.O. Manasseh, and A. Orji, Disaggregated analysis of monetary policy effects on the agricultural sector in Nigeria, Appl. Stud. Agribus. Commerce. 14 (2020), no. 3–4, 47–58. [19] F.J. Olusegun and A. Omolade, Impact of monetary policy transmission mechanism in west African countries, Studia Univ. Vasile Goldis Arad- Econ. Ser. 32 (2022), no. 1, 20–42. [20] N. Rebei and E. Ortega, A two sector small open economy model. Which inflation to target?, Society for Computational Economics, 2005, no. 298. [21] Y. Song, Y. Yang, J. Yu, and Z. Zhao, The post-Covid-19 economic policy uncertainty and the effectiveness of monetary policy: evidence from China, Frontiers in Public Health, 9 (2021), 771364. [22] V. Ulke and H. Berument, Asymmetric effects of monetary policy shocks on economic performance: Empirical evidence from Turkey, Appl. Econ. Lett. 23 (2015), no. 5, 353–360. [23] F. Wen, F. Ming, Y. Zhang, and C. Yang, Crude oil price shocks, monetary policy, and China’s economy, Int. J. Financ. Econ. 24 (2018), no. 2, 812–827. | ||
|
آمار تعداد مشاهده مقاله: 1,169 تعداد دریافت فایل اصل مقاله: 151 |
||