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Assessing the Effects of Financial Shocks Under Fractional and Full Reserve Banking Via the DSGE Approach | ||
| International Journal of Business and Development Studies | ||
| مقاله 2، دوره 18، شماره 1، شهریور 2026 | ||
| نوع مقاله: Research Paper | ||
| شناسه دیجیتال (DOI): 10.22111/ijbds.2026.49211.2133 | ||
| نویسنده | ||
| Farideh Khodadadi* | ||
| Economic department, Shahid Beheshti University | ||
| چکیده | ||
| To achieve this aim, two models were used, including the stochastic dynamic general equilibrium model of the new Keynesians with a perspective on the realities of the Iranian economy, followed by an analysis of the effects of shock. The input values of the model were determined, and relevant parameters were estimated using seasonal data of the Iranian economy from 1991 to 2022, using the Bayesian estimation method. Accordingly, the results of simulation on the model variables indicated the validity of the model in describing the fluctuations of the Iranian economy. An examination of the dynamics of the model showed that the effect of financial shock varied, depending on the variables under the two types of banking. The results showed that the positive shock of government consumption expenditure and government investment expenditure, under fractional reserve banking, can increase production and money supply but reduce consumption. In full reserve banking, however, they would increase consumption and production, but reduce money supply in the Iranian economy. Furthermore, by comparing the impulse response function of the selected variables in the two models, it is observed that full reserve banking caused a change in the share of shocks that make fluctuations in key variables. Even the condition of some variables has been replaced by shocks of government expenditures. Variables such as employment and production did not benefit much from these changes, whereas other variables were affected differently, especially consumption, inflation and money supply, as a result of the change in banking. | ||
| کلیدواژهها | ||
| Full reserve banking؛ Fractional reserve banking؛ Financial shocks؛ Budget deficit؛ Dynamic stochastic general equilibrium model (DSGE) | ||
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آمار تعداد مشاهده مقاله: 86 |
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