Quantitative Determination Of Optimal Fiscal And Monetary Policies: A Stochastic Optimal Control Analysis For Iran

quantitative determination of optimal fiscal and monetary policies: a stochastic optimal control analysis for iran

Optimality Of Monetary And Fiscal Policies In Iran: An Application Of The Stochastic Optimal Control Theory

optimality of monetary and fiscal policies in iran: an application of the stochastic optimal control theory

Effects of Fiscal and Monetary Policies on the Iranian Economy: An Optimal Control Approach

This paper evaluates the interacted effects of the fiscal and monetary policies on the nominal and real macro-variables of the Iranian economy. Our analysis is thus based on the optimal control theory by which the optimal path of the control variables including monetary and fiscal tools are determined over the period 1963-2006. We also use a macro-econometric model in form of a simultaneous equ...

Optimal Growth Using Fiscal and Monetary Policies

Institut International d’Economie Politique IIEP International Economic Policy Institute IEPI Institut International d’Economie Politique IIEP International Economic Policy Institute IEPI Institut International d’Economie Politique IIEP International Economic Policy Institute IEPI Institut International d’Economie Politique IIEP International Economic Policy Institute IEPI Institut Internationa...

Optimal Fiscal and Monetary Policy

We study optimal fiscal and monetary policy in an environment where explicit frictions give rise to valued money, making money essential in the sense that it expands the set of feasible trades. Our main results are in stark contrast to the prescriptions of earlier flexible-price Ramsey models. The two most important findings that emerge from our work are that the Friedman Rule is typically not ...