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:: Volume 16, Issue 66 (Fall 1399 2020) ::
QEER 2020, 16(66): 154-191 Back to browse issues page
Investigating the Use of Oil Revenues with the Assumption of Dutch Disease in Different Economic Sectors of Iran: a Dynamic Computable General Equilibrium (DCGE) Approach
Azam Ghezelbash
Abstract:   (332 Views)
The use of revenue from natural resources, including oil, has always attracted the attention of politicians, economists and political scientists as well as various social groups. Here, we study the optimal consumption of oil revenues under different interest rate and social discount rate scenarios, and presence of Dutch disease, using a dynamic computable general equilibrium approach.The results of the research show that we can only achieve an optimal level of  Dutch disease if the social time preference rate is lower than the interest rate. This will optimize the Dutch disease by increasing the consumption path and increasing the relative weight of tradeable goods and increased imports. This would also increase the consumption of oil revenues in the industrial sector, which is one of the main consumers of petroleum products. This path reduces the use of oil revenues in the agricultural sector. We note substantial allocation of oil revenues in the oil and power sector. The share of the service sector has a slight upward trend. Exports of crude oil initially increases and then decreases, due to the aging of oil reservoirs and consequently lower recovery.
 JEL Classification: D5, Q3, I31
Keywords: Management of Oil Revenues, Dutch Disease, Dynamic Computable General Equilibrium, Iran

 
Keywords: Management of Oil Revenues, Dutch Disease, Dynamic Computable General Equilibrium, Iran
Full-Text [PDF 9392 kb]   (105 Downloads)    
Type of Study: Thesis(PhD.) | Subject: OPEC
Received: 2020/12/9 | Accepted: 2020/11/30 | Published: 2020/11/30 | ePublished: 2020/11/30
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Ghezelbash A. Investigating the Use of Oil Revenues with the Assumption of Dutch Disease in Different Economic Sectors of Iran: a Dynamic Computable General Equilibrium (DCGE) Approach. QEER. 2020; 16 (66) :154-191
URL: http://iiesj.ir/article-1-1371-en.html


Volume 16, Issue 66 (Fall 1399 2020) Back to browse issues page
فصلنامه مطالعات اقتصاد انرژی Quarterly Energy Economics Review
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