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Staggered Price and Monetary Policy in Ir
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Reza Boostani *   |
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Abstract: (3359 Views) |
In this paper, a small DSGE model augmented with staggered nominal prices is utilized in order to estimate the price rigidity in Iran’s economy. The estimation of parameter of price rigidity shows that price rigidity is lower than what commonly used in literature. This would limit the effectiveness of monetary policy as a tool to stimulate the economy in short-run.
JEL Classification Codes: C11, E32, E12 |
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Full-Text [PDF 497 kb]
(1536 Downloads)
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Type of Study: Empirical Study |
Received: 2014/08/9 | Accepted: 2014/08/9 | Published: 2014/08/9
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