IDEAS home Printed from https://ideas.repec.org/a/mbr/jmbres/v7y2014i21p443-475.html
   My bibliography  Save this article

The Role of Institutions in Oil Resource Curse or Blessing: A Rent-Seeking Model with DSGE Approach (in Persian)

Author

Listed:
  • tayebnia, Ali

    (Iran)

  • Zamanzadeh, hmid

    (Iran)

  • Shadrokh, Mahdeih

    (Iran)

Abstract

The oil revenues have positive and negative effects on economic performance through different channels that can cause curse or blessing. The Dynamic Stochastic General Equilibrium (DSGE) model is amongst the best tools for understanding how different economic shocks affect macroeconomic variables. This study uses a DSGE model to analyze how oil shocks affect the Iranian economy in the short and long run. The model emphasizes the role of rent-seeking behavior and institutional factors in the transmission of oil shocks. The results show that a positive oil shock increases non-oil output in the short run due to expansion of demand and increased supply of goods, but leads to a decrease in non-oil output in the long run due to rent-seeking behavior and institutional weaknesses.

Suggested Citation

  • tayebnia, Ali & Zamanzadeh, hmid & Shadrokh, Mahdeih, 2014. "The Role of Institutions in Oil Resource Curse or Blessing: A Rent-Seeking Model with DSGE Approach (in Persian)," Journal of Monetary and Banking Research (فصلنامه پژوهش‌های پولی-بانکی), Monetary and Banking Research Institute, Central Bank of the Islamic Republic of Iran, vol. 7(21), pages 443-475, October.
    • Handle: RePEc:mbr:jmbres:v:7:y:2014:i:21:p:443-475
    as

    Download full text from publisher

    File URL: http://jmbr.mbri.ac.ir/article-1-319-en.pdf
    Download Restriction: no
    File URL: http://jmbr.mbri.ac.ir/article-1-319-en.html
    Download Restriction: no
    File URL: http://jmbr.mbri.ac.ir/article-1-319-fa.html
    Download Restriction: no
    ---><---

    More about this item

    JEL classification:

    • C63 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Computational Techniques
    • E02 - Macroeconomics and Monetary Economics - - General - - - Institutions and the Macroeconomy
    • E63 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Comparative or Joint Analysis of Fiscal and Monetary Policy; Stabilization; Treasury Policy
    • Q30 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Nonrenewable Resources and Conservation - - - General

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:mbr:jmbres:v:7:y:2014:i:21:p:443-475. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: M. E. (email available below). General contact details of provider: https://edirc.repec.org/data/mbcbiir.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.