Optimal Monetary Policy with Attention to Housing Price in the Economy of Iran: DSGEApproach<br/>

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Optimal Monetary Policy with Attention to Housing Price in the Economy of Iran: DSGEApproach

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Type of Document: M.Sc. Thesis
Language: Farsi
Document No: 42316 (44)
University: Sharif University of Techology
Department: Management and Economics
Advisor(s): Dargahi, Hassan; Ebrahimi, Illnaz
Abstract:
Purpose of this study is the assignment of the optimal monetary policy rule with attention to housing price with base of setting and to estimating a Dynamic Stochastic General Equilibrium modeling (DSGE). This study has two steps. In the first step we set a model with base of Households, firms, government, and monetary sector behavior and with attention to important variables like outcome, consumption, and investment, the model will be caliber and by simulation it will be evaluated. In the second step we determine optimal monetary rule and the model simulate again with this monetary rule. The comparison between two simulation for verity of shocks shows us that the optimal monetary policy cause stability in the inflation and output so this hypothesis satisfied that the inflation and output instability will be control by optimal monetary policy
Keywords:
Housing Price ; Iran Economy ; Dynamic Stochastic General Equilibrium ; Optimal Monetary Policy

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