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Full-Text Articles in Econometrics
The Impact Of The Volatility Of Monetary Policy On A Small Economy: Some Evidence From New Zealand, Reza Moosavi Mohseni Dr., Jiling Cao, Wenjun Zhang
The Impact Of The Volatility Of Monetary Policy On A Small Economy: Some Evidence From New Zealand, Reza Moosavi Mohseni Dr., Jiling Cao, Wenjun Zhang
Reza Moosavi Mohseni
This paper investigates the impact of the international and domestic volatility of monetary policy shocks on a small economy using the GARCH-SVAR model. We enrich the SVAR model by using time-varying International and domestic volatilities as endogenous variables. The results show that although monetary policy shocks have transient effect on real economy (neutrality of money) the impact of the volatility of monetary policy shocks on real part of the economy is permanent and significant. Findings of variance decomposition also show that New Zealand heavily depends on international trade, so international monetary shocks can have a permanent impact on the local …
The Financial Crisis Impact On Potential Output In Iran, Fatemeh Almasi, Reza Moosavi Mohseni Dr., Jalili Khodaparast Shirazi Dr.
The Financial Crisis Impact On Potential Output In Iran, Fatemeh Almasi, Reza Moosavi Mohseni Dr., Jalili Khodaparast Shirazi Dr.
Reza Moosavi Mohseni
In this study the quarterly data from 1996:1-2011:2 have been used to investigate the effect of financial crisis on potential output in Iran. For this purpose potential output, natural unemployment rate, spread between short-run and long-run interest rate and real money supply variables are used to estimate Auto Regressive Model and analyze Impulse-Response function and Variance Decomposition. The results show that financial crisis has a negative impact on potential output in Iran. Also, monetary shocks have negative impact on potential output in Iran. As regards, monetary policy has no effect on actual output in long-run, it seems that monetary policies …