Title of article
Effects of Oil Price Shocks on Agricultural Sector Using Dynamic Stochastic General Equilibrium Model
Author/Authors
Permeh ، Z. - Ferdowsi University of Mashhad , Ghorbani ، M. - Ferdowsi University of Mashhad , Tavakolian ، H. - Allameh Tabataba i University , Shahnoshi ، N. - Ferdowsi University of Mashhad
Pages
16
From page
1211
To page
1226
Abstract
This study aimed to develop a multi-sector Dynamic Stochastic General Equilibrium (Large DSGE) model for Iran’s economy. In this model, economy was divided into three sectors: Agriculture, non-agriculture, and oil. Imports and exports were also included in the model. In order to adapt the model with Iran’s economic conditions, price stickiness in agriculture and non-agriculture were included. Then, the impact of rising oil prices on agricultural sector was examined. To calculate the required coefficients, 1971-2012 data was gathered and Bayesian method was used. The results showed the negative impacts of rising oil prices on agriculture as well as the negative effects of Dutch Disease.
Keywords
Agriculture , Bayesian , DSGE , Multi , sector , Oil Prices , Stickiness
Journal title
Journal of Agricultural Science and Technology
Serial Year
2017
Journal title
Journal of Agricultural Science and Technology
Record number
2440577
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