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Investigating the Effect of Financial and Monetary Policy on the Iranian Stock Market by Using DSGE Model | ||
Iranian Economic Review | ||
مقالات آماده انتشار، پذیرفته شده، انتشار آنلاین از تاریخ 28 اردیبهشت 1399 | ||
شناسه دیجیتال (DOI): 10.22059/ier.2020.76093 | ||
نویسندگان | ||
Abdolsamad Rahmani1؛ Saeed Samadi* 1؛ Rasoul Bakhshi Dastjerdi2 | ||
1Faculty of Administrative Science and Economics, University of Isfahan, Iran. | ||
2Department of Economics, University of Isfahan, Isfahan, Iran. | ||
چکیده | ||
This paper uses a dynamic stochastic general equilibrium model to investigate the effect of fiscal and monetary policy on the stock market in Iran. Results show that a positive money shock leads to a rise in output, stock price index, and inflation. In addition, the response of the stock demand to money supply shock is negative. We found that a positive government expenditure shock led to a rise in output and inflation. The response of stock demand and stock price index to the government expenditure shocks are negative. Furthermore, results show that a stock market shock leads to a rise in output and inflation. | ||
کلیدواژهها | ||
Keywords: DSGE Modeling؛ Fiscal Policy؛ Monetary Policy؛ Stock Prices JEL Classification: E12؛ E44؛ E52؛ E32 | ||
آمار تعداد مشاهده مقاله: 1,284 |