Rethinking Monetary Policy in the Framework of Inclusive and Sustainable Growth

Pérez‐Moreno, Salvador; Martín-Fuentes, Natalia; Albert, Juan-Francisco

doi:10.1007/978-3-030-84288-8_8

Cited by 5 publications

(1 citation statement)

References 71 publications

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“…It is important to mention that successive economic booms and recessions are the result of using unsustainable economic policies. A country's economy can be called a successful economy when it experiences constant growth rates with a continuous increase in productivity in the long term [1][2][3][4][5][6][7][8][9].…”

Section: Introductionmentioning

confidence: 99%

The Effects of Monetary Policy on Macroeconomic Variables through Credit and Balance Sheet Channels: A Dynamic Stochastic General Equilibrium Approach

et al. 2023

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Economic policies aimed at managing economic variables in the short and long term have always been of special importance. These policies seek to reduce economic fluctuations in the short term and increase sustainable economic growth in the long term. One of these policies is monetary policy, which is mainly carried out by central banks worldwide. This paper uses the Keynesian Dynamic Stochastic General Equilibrium (DSGE) model to examine the effects of monetary policy on the real variables of the Iranian economy through the credit channel and the balance sheet channel. The presented model analyzed information about macroeconomic variables in Iran for the period from 1990 to 2020. The obtained results show that with the implementation of restrictive monetary policy in the economy, all productive activities of enterprises decreased, and this led to a decrease in household income, which in turn reduced household savings in the form of bank deposits. Because the most important sources of financing for banks are deposits, the ability of banks to offer loans was reduced. On the other hand, a restrictive monetary shock was associated with a decline in the value of corporate securities. As a result, the amount of received loans by firms was reduced by the value of the assets. This reduced the demand of banks for bank loans, which intensified the effects of the initial shock, along with a reduction in the banks’ ability to provide lending services. Further, the results indicate the relative success of the model in simulating Iran’s macro economy.

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Section: Introductionmentioning

confidence: 99%

The Effects of Monetary Policy on Macroeconomic Variables through Credit and Balance Sheet Channels: A Dynamic Stochastic General Equilibrium Approach

et al. 2023

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Impact-Relation Map of Innovative Service Development Regarding the Sustainable Growth for Emerging Markets

2022

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This paper introduces a tool for new service development in the context of emerging economies. For this aim, two-stage decision making model is applied for measuring the new service development-enhanced sustainable growth of emerging economies. At the first stage, bipolar q-ROF M-SWARA with golden cut is used for weighting the new service development process. At the second stage, bipolar q-ROF ELECTRE with golden cut is employed for illustrating the impact-relation map of sustainable growth determinants with respect to the new service development process for emerging economies. The novelties of this study are to construct a novel decision-making approach by using the bipolar q-ROFSs and golden cut and to figure out the influencing degrees and directions of sustainable growth determinants for emerging economies. It is also determined that testing has the highest significance while creating a new service for sustainable growth. Ranking results also demonstrate that qualified organizational teams and equipment is the most critical factor regarding innovative service process-based sustainable growth. It is necessary to adapt current technological developments to new products to be developed for sustainable growth. In this context, technological advances for these products should be followed carefully. In this process, it would be appropriate for companies to reach this goal by employing qualified personnel.

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Editorial: Distributional Effects of Monetary Policy

Arestis

Pérez‐Moreno

2022

Journal of Economic Policy Reform

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Rethinking Monetary Policy in the Framework of Inclusive and Sustainable Growth

Cited by 5 publications

References 71 publications

The Effects of Monetary Policy on Macroeconomic Variables through Credit and Balance Sheet Channels: A Dynamic Stochastic General Equilibrium Approach

The Effects of Monetary Policy on Macroeconomic Variables through Credit and Balance Sheet Channels: A Dynamic Stochastic General Equilibrium Approach

Impact-Relation Map of Innovative Service Development Regarding the Sustainable Growth for Emerging Markets

Editorial: Distributional Effects of Monetary Policy

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