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:: Volume 12, Issue 48 (Spring 1395 2016) ::
QEER 2016, 12(48): 1-32 Back to browse issues page
An Investigation of the Impact of Oil Revenue Shocks on Output and Inflation under Conditions of Price and Wage Stickiness
Ahmad Jafari Samimi1 , Roozbeh Balounejad Nouri * 2, Amir Mansoor Tranchian1
1- University of Mazandaran
2- , roozbeh_noury@yahoo.com
Abstract:   (5307 Views)

Abstract

Output and inflation are two important indicators used to measure economic performance.  This study aims to investigate the effects of oil revenue shocks on output and inflation. To this end, we design an open dynamic stochastic general equilibrium (DSGE) model for the Iranian economy. We proceed to estimate impulse response functions of the Iranian economy to oil revenues shocks after linearization and calibration of model coefficients. Comparing estimated values of variables with the actual data of the economy indicate the relative success of the model in predicting changes in output and inflation. The results indicate that positive shocks of oil revenues increase output and inflation in the Iranian economy.

JEL Classification: C63، E63، Q43، E32

Keywords: Dynamic Stochastic General Equilibrium, New Open Economy Macroeconomic, Price and wage Stickiness
Full-Text [PDF 466 kb]   (2609 Downloads)    
Type of Study: Research | Subject: Macro Economic-Currencies
Received: 2014/06/10 | Accepted: 2016/01/10 | Published: 2016/06/20 | ePublished: 2016/06/20
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Jafari Samimi A, Balounejad Nouri R, Tranchian A M. An Investigation of the Impact of Oil Revenue Shocks on Output and Inflation under Conditions of Price and Wage Stickiness. QEER 2016; 12 (48) :1-32
URL: http://iiesj.ir/article-1-351-en.html


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Volume 12, Issue 48 (Spring 1395 2016) Back to browse issues page
فصلنامه مطالعات اقتصاد انرژی Quarterly Energy Economics Review
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