An Estimated Dynamic Stochastic General Equilibrium Model of the Jordanian Economy /

An Estimated Dynamic Stochastic General Equilibrium Model of the Jordanian Economy /

This paper presents and estimates a small open economy dynamic stochastic general-equilibrium model (DSGE) for the Jordanian economy. The model features nominal and real rigidities, imperfect competition and habit formation in the consumer's utility function. Oil imports are explicitly modeled...

Full description

Bibliographic Details
Main Author: Poghosyan, Tigran
Other Authors: Beidas-Strom, Samya
Format: Journal
Language:English
Published: Washington, D.C. : International Monetary Fund, 2011.
Series:IMF Working Papers; Working Paper ; No. 2011/028
Online Access:Full text available on IMF
LEADER 02022cas a2200253 a 4500
001 AALejournalIMF007024
008 230101c9999 xx r poo 0 0eng d
020 |c 5.00 USD 
020 |z 9781455216758 
022 |a 1018-5941 
040 |a BD-DhAAL  |c BD-DhAAL 
100 1 |a Poghosyan, Tigran. 
245 1 3 |a An Estimated Dynamic Stochastic General Equilibrium Model of the Jordanian Economy /  |c Tigran Poghosyan, Samya Beidas-Strom. 
264 1 |a Washington, D.C. :  |b International Monetary Fund,  |c 2011. 
300 |a 1 online resource (51 pages) 
490 1 |a IMF Working Papers 
500 |a <strong>Off-Campus Access:</strong> No User ID or Password Required 
500 |a <strong>On-Campus Access:</strong> No User ID or Password Required 
506 |a Electronic access restricted to authorized BRAC University faculty, staff and students 
520 3 |a This paper presents and estimates a small open economy dynamic stochastic general-equilibrium model (DSGE) for the Jordanian economy. The model features nominal and real rigidities, imperfect competition and habit formation in the consumer's utility function. Oil imports are explicitly modeled in the consumption basket and domestic production. Bayesian estimation methods are employed on quarterly Jordanian data. The model's properties are described by impulse response analysis of identified structural shocks pertinent to the economy. These properties assess the effectiveness of the pegged exchange rate regime in minimizing inflation and output trade-offs. The estimates of the structural parameters fall within plausible ranges, and simulation results suggest that while the peg amplifies output, consumption and (price and wage) inflation volatility, it offers a relatively low risk premium. 
538 |a Mode of access: Internet 
700 1 |a Beidas-Strom, Samya. 
830 0 |a IMF Working Papers; Working Paper ;  |v No. 2011/028 
856 4 0 |z Full text available on IMF  |u http://elibrary.imf.org/view/journals/001/2011/028/001.2011.issue-028-en.xml  |z IMF e-Library 

Similar Items