The dynamic effect of micro-structural shocks on private investment behavior
This paper estimates the dynamic effect of three micro-structural shocks, namely, investment-specific technology, markup and technology shocks to key components of the Iranian economy: private investment behaviour. The identification strategy positions the structural shocks to private investment beh...
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Technical University of Kosice
2021
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Online Access: | http://eprints.utm.my/id/eprint/95779/1/NanthakumarLoganathan2021_TheDynamicEffectOfMicroStructuralShocks.pdf http://eprints.utm.my/id/eprint/95779/ http://dx.doi.org/10.46544/AMS.v26i1.01 |
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my.utm.957792022-05-31T13:19:06Z http://eprints.utm.my/id/eprint/95779/ The dynamic effect of micro-structural shocks on private investment behavior Akbari, Mehrad Loganathan, Nanthakumar Tavakolian, Hossein Mardani, Abbas Streimikiene, Dalia HB Economic Theory This paper estimates the dynamic effect of three micro-structural shocks, namely, investment-specific technology, markup and technology shocks to key components of the Iranian economy: private investment behaviour. The identification strategy positions the structural shocks to private investment behaviour in the Dynamics Stochastic General Equilibrium (DSGE) framework with a three-accuracy test estimation: The Brooks and Gelman test, the Metropolis-Hastings jumping distribution acceptance ratio, and the distribution of the deep posteriors parameters are asymptotically normal. The quarter economic data of Iran economy from July 1988 until March 2015 is applied. The findings illustrate that the structural shocks about technology have a similar impact and cause a growth in private investment, and the only difference is, in investment-specific technology shock due to a temporary decrease in the capital expenses installation (Tobin's Q), an investment boom is driven. In contrast, the price markup shock due to inflation causes a decline in all investment indices. Technical University of Kosice 2021 Article PeerReviewed application/pdf en http://eprints.utm.my/id/eprint/95779/1/NanthakumarLoganathan2021_TheDynamicEffectOfMicroStructuralShocks.pdf Akbari, Mehrad and Loganathan, Nanthakumar and Tavakolian, Hossein and Mardani, Abbas and Streimikiene, Dalia (2021) The dynamic effect of micro-structural shocks on private investment behavior. Acta Montanistica Slovaca, 26 (1). pp. 1-17. ISSN 1335-1788 http://dx.doi.org/10.46544/AMS.v26i1.01 |
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HB Economic Theory Akbari, Mehrad Loganathan, Nanthakumar Tavakolian, Hossein Mardani, Abbas Streimikiene, Dalia The dynamic effect of micro-structural shocks on private investment behavior |
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This paper estimates the dynamic effect of three micro-structural shocks, namely, investment-specific technology, markup and technology shocks to key components of the Iranian economy: private investment behaviour. The identification strategy positions the structural shocks to private investment behaviour in the Dynamics Stochastic General Equilibrium (DSGE) framework with a three-accuracy test estimation: The Brooks and Gelman test, the Metropolis-Hastings jumping distribution acceptance ratio, and the distribution of the deep posteriors parameters are asymptotically normal. The quarter economic data of Iran economy from July 1988 until March 2015 is applied. The findings illustrate that the structural shocks about technology have a similar impact and cause a growth in private investment, and the only difference is, in investment-specific technology shock due to a temporary decrease in the capital expenses installation (Tobin's Q), an investment boom is driven. In contrast, the price markup shock due to inflation causes a decline in all investment indices. |
format |
Article |
author |
Akbari, Mehrad Loganathan, Nanthakumar Tavakolian, Hossein Mardani, Abbas Streimikiene, Dalia |
author_facet |
Akbari, Mehrad Loganathan, Nanthakumar Tavakolian, Hossein Mardani, Abbas Streimikiene, Dalia |
author_sort |
Akbari, Mehrad |
title |
The dynamic effect of micro-structural shocks on private investment behavior |
title_short |
The dynamic effect of micro-structural shocks on private investment behavior |
title_full |
The dynamic effect of micro-structural shocks on private investment behavior |
title_fullStr |
The dynamic effect of micro-structural shocks on private investment behavior |
title_full_unstemmed |
The dynamic effect of micro-structural shocks on private investment behavior |
title_sort |
dynamic effect of micro-structural shocks on private investment behavior |
publisher |
Technical University of Kosice |
publishDate |
2021 |
url |
http://eprints.utm.my/id/eprint/95779/1/NanthakumarLoganathan2021_TheDynamicEffectOfMicroStructuralShocks.pdf http://eprints.utm.my/id/eprint/95779/ http://dx.doi.org/10.46544/AMS.v26i1.01 |
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13.18916 |