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The Behavior of households using the dynamic stochastic general equilibrium model: alternative models

This paper endeavors to present a dynamic stochastic general equilibrium (DSGE) model that can assay and check the traces of changes in utility in Iran's economy by defining different utility functions for households. It uses data from 1998 to 2020 and assays Iranian households’ behavior wi...

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Main Author: Hamid Reza Izadi,
Format: Article
Language:English
Published: Penerbit Universiti Kebangsaan Malaysia 2023
Online Access:http://journalarticle.ukm.my/21998/1/JeM_1.pdf
http://journalarticle.ukm.my/21998/
https://www.ukm.my/jem/view-articles/
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spelling my-ukm.journal.219982023-08-07T03:12:34Z http://journalarticle.ukm.my/21998/ The Behavior of households using the dynamic stochastic general equilibrium model: alternative models Hamid Reza Izadi, This paper endeavors to present a dynamic stochastic general equilibrium (DSGE) model that can assay and check the traces of changes in utility in Iran's economy by defining different utility functions for households. It uses data from 1998 to 2020 and assays Iranian households’ behavior within the framework of a DSGE model. A number of modifications to the standard model have been introduced to enforce stationarity and household behavior. To this aim, this rummage, with a glimpse at the existing economic literature, will present a DSGE model for a small open economy with changing utility function. Three different characteristics are considered for this purpose, namely an endogenous discount factor model, a debt-elastic interest-rate premium model, and a portfolio adjustment costs model. The results show that all models assert virtually identical dynamics at business-cycle frequencies as measured impulse response functions. The notable difference among the alternative models is that the debt-elastic interest-rate premium model and the portfolio adjustment costs model have dynamic changes. Penerbit Universiti Kebangsaan Malaysia 2023 Article PeerReviewed application/pdf en http://journalarticle.ukm.my/21998/1/JeM_1.pdf Hamid Reza Izadi, (2023) The Behavior of households using the dynamic stochastic general equilibrium model: alternative models. Jurnal Ekonomi Malaysia, 57 (1). pp. 1-8. ISSN 0127-1962 https://www.ukm.my/jem/view-articles/
institution Universiti Kebangsaan Malaysia
building Tun Sri Lanang Library
collection Institutional Repository
continent Asia
country Malaysia
content_provider Universiti Kebangsaan Malaysia
content_source UKM Journal Article Repository
url_provider http://journalarticle.ukm.my/
language English
description This paper endeavors to present a dynamic stochastic general equilibrium (DSGE) model that can assay and check the traces of changes in utility in Iran's economy by defining different utility functions for households. It uses data from 1998 to 2020 and assays Iranian households’ behavior within the framework of a DSGE model. A number of modifications to the standard model have been introduced to enforce stationarity and household behavior. To this aim, this rummage, with a glimpse at the existing economic literature, will present a DSGE model for a small open economy with changing utility function. Three different characteristics are considered for this purpose, namely an endogenous discount factor model, a debt-elastic interest-rate premium model, and a portfolio adjustment costs model. The results show that all models assert virtually identical dynamics at business-cycle frequencies as measured impulse response functions. The notable difference among the alternative models is that the debt-elastic interest-rate premium model and the portfolio adjustment costs model have dynamic changes.
format Article
author Hamid Reza Izadi,
spellingShingle Hamid Reza Izadi,
The Behavior of households using the dynamic stochastic general equilibrium model: alternative models
author_facet Hamid Reza Izadi,
author_sort Hamid Reza Izadi,
title The Behavior of households using the dynamic stochastic general equilibrium model: alternative models
title_short The Behavior of households using the dynamic stochastic general equilibrium model: alternative models
title_full The Behavior of households using the dynamic stochastic general equilibrium model: alternative models
title_fullStr The Behavior of households using the dynamic stochastic general equilibrium model: alternative models
title_full_unstemmed The Behavior of households using the dynamic stochastic general equilibrium model: alternative models
title_sort behavior of households using the dynamic stochastic general equilibrium model: alternative models
publisher Penerbit Universiti Kebangsaan Malaysia
publishDate 2023
url http://journalarticle.ukm.my/21998/1/JeM_1.pdf
http://journalarticle.ukm.my/21998/
https://www.ukm.my/jem/view-articles/
_version_ 1773544662290661376
score 13.211869

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