in this research, potential effects of oil and monetary policy shocks on economic growth of iran are examined and share of each of them on economic growth are calculated during 1974-2006 period and potential mutual effects of those shocks by using the vector auto regressive (var) model are analysed. results of this research show that oil shocks significantly affected the economic growth in iran...

The purpose of this paper is to discuss the choice between an exchange rate target and an inflation target for Norway. The paper also contains a brief discussion of the objectives of monetary policy and of an optimal delegation of monetary policy in a representative democracy, which serves to place this choice in a broader context. 1 Monetary policy goals Let me start from the presumption that ...

This paper studies the interaction between monetary and macro-prudential policies in a simple model with both nominal and financial frictions. The nominal friction gives rise to a conventional monetary policy objective emphasized in the New Keynesian literature. The financial friction, in the form of an occasionally binding collateral constraint, gives rise to a financial stability objective. ...

This is a special conference for the Federal Reserve Bank of Boston, and for me personally. The role of monetary aggregates in monetary policy was intensely controversial when I joined the staff of the Board of Governors in May 1969. I was immediately asked to join the staff of the newly formed FOMC Committee on the Directive. Governor Sherman Maisel chaired that committee; the other two member...

the aim of this paper is to investigate the existence of the new non-ricardian regime policy in iranian economy. we detected signs of the non-ricardian regime from quarterly data of 1369 to 1391. to investigate further a dynamic stochastic general equilibrium model is designed to estimate the fiscal and monetary parameters using a bayesian approach. our results indicated a passive monetary poli...

Nowadays one of the most important issues in our economy, both from economic and political view is the link between monetary policy and business cycle fluctuations. Amongst the shocks related to the supply side, the shock of oil price is the important factor that has affected the world economy since the 1970s. This paper examines the effects of monetary policy and oil price shocks on the busine...

Granular residual is created in the banking network when there are a few large banks with many small banks. In this case, the effect of the shocks on each bank not lost in total that can lead to macro-economic consequences. The transmission of monetary policy through change in bank facilities is one of the key mechanisms affecting monetary policies. The power of transmission of monetary policy ...