Investigating the Distributional Effects of Macro-prudential Policies on Iran's Economic Variables based on the DSGE Model

Document Type : Research Paper

Authors

1 Assistant Professor, Department of Islamic Economics, Faculty of Economic and Administrative Sciences, Qom University, Qom, Iran.

2 Department of Accounting and Management, Islamic Azad University, Karaj Branch, Karaj, Iran

3 Professor, Department of Financial Management, Faculty of Social Sciences and Economics, AlZahra University, Tehran, Iran

10.22051/ieda.2024.45238.1378

Abstract

After the financial crisis of 2008, the use of macro-prudential policies increased by central banks to stabilize the entire financial system and achieve goals such as inflation stability and economic growth. Considering that the indicators of banking health in the Iranian economy show the unhealthiness of banks and, on the other hand, the use of asset-based tools provides different access for different groups of loan applicants, in this study, an attempt has been made by using the DSGE model including heterogeneous households. Moreover, using the statistical information of 1989-2021, the final effects of precautionary policies on the distribution of income and wealth should be investigated. The results show that the use of these tools, on the one hand, leads to the reduction of inequality through increasing financial stability and economic growth, and on the other hand, due to the increase in the cost of access to credit for low-income households, it increases inequality, so the final result depends on the outcome of these two effects

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References

منابع
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Iranian Economic Development Analyses
Volume 9, Issue 2 - Serial Number 24
October 2023
Pages 277-294

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