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:: Volume 2, Issue 1 (Quarterly Journal Of Energy Policy and Planning Research 2016) ::
2016, 2(1): 33-76 Back to browse issues page
Fiscal Policy Framework for Oil Revenue Management in Iran: Stochastic Dynamic General Equilibrium Approach
Abstract:   (4771 Views)

The formulation of a fiscal policy framework in resource-rich countries with respect to other countries' experiences and local requirements is important in implementation of economic development programs. The evaluation of the effects of oil revenue and productivity shocks on macroeconomic variables is the main purpose of this study, which is addressed within the context of a DSGE model with features such as infrastructure development needs and public investment inefficiencies. Base on RBC model, Results shows that the oil revenue shock increases the consumption, the current and capital spending of the government and reduces the inflation in the short run, although because of the demand side, in medium term push, inflation increase. The results reveal that with an increase in oil revenue the National Development Fund and consequently, the financial resource for concessional facilities to the private sector will be raised.Furthermore, because of the structure of the economy that was largely unproductive and government activity in the economy lead to crowding out effect, the oil revenue investment has a little effect on the growth of the non-oil producing sector. Moreover, a productivity shock in the model has the results that are similar to theoretical expectations

Keywords: Shocks, Model DSGE, Inefficient Investment, Business Cycles, Productivity
Full-Text [PDF 1296 kb]   (1850 Downloads)    
Type of Study: Research | Subject: Special
Received: 2015/08/26 | Accepted: 2016/11/22 | Published: 2016/11/22
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Fiscal Policy Framework for Oil Revenue Management in Iran: Stochastic Dynamic General Equilibrium Approach. Quarterly Journal of Energy Policy and Planning Research. 2016; 2 (1) :33-76
URL: http://epprjournal.ir/article-1-101-en.html


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Volume 2, Issue 1 (Quarterly Journal Of Energy Policy and Planning Research 2016) Back to browse issues page
مجله پژوهش های برنامه ریزی و سیاستگذاری انرژی Journal of Energy Planning And Policy Research
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