نوع مقاله : علمی
نویسندگان
1 دانشگاه تهران، دانشکده اقتصاد
2 دکتری پیام نور تهران
3 دانشگاه پیام نور تهران، دانشکده اقتصاد
4 تبریز، ائلگلی، فلکه گلشهر، کوی البرز، بن بست صدف، پلاک 14/1، طبقه سوم
چکیده
کلیدواژهها
موضوعات
عنوان مقاله [English]
نویسندگان [English]
Since the end of the Great Moderation period, there has been an increase in studies proposing alternatives to the current dominant monetary policy regime (inflation targeting). One of these popular alternatives is nominal GDP targeting. The current research empirically investigates the issue of nominal GDP targeting against other monetary policies such as inflation targeting (Taylor's laws) within the framework of a neo-Keynesian stochastic dynamic general equilibrium model. This model has been fitted through a combination of calibration and Bayesian estimation of parameters, using data from Iran during the seasonal period of 1370:1-1398:4. Therefore, at first, a new Keynesian (DSGE) model with investment adjustment costs, prices and real wage stickiness, public sector and imperfect competition, along with various shocks is designed and then with using Bayesian methods, we estimated and compared these models on the data of Iran. The results have shown that first; The impact of monetary policy shocks on the variables used in the models is in the same direction and the Central Bank of Iran reacts less aggressively to the increase in production and inflation rate than their steady state values. Secondly;The effectiveness of production variables and inflation rate from monetary shocks of nominal GDP targeting law is more than Taylor's law
کلیدواژهها [English]
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