چکیده:
the consequences of the decisions and policies taken for the reconstruction of Afghanistan during the past decade, showed that there should be paid more attention to the monetary policies. There is also a question that whether monetary policies have the potential to affect the production and inflation in Afghanistan or not. The aim of this paper is to explore this effect by designing a new Keynesian dynamic stochastic general equilibrium (DSGE) model.
The DSGE model used in this paper is taken from the new Keynesian theoretical foundations. It has been addressed to the role of households, firms, the monetary policy of Da Afghanistan Bank, as well as aids of international institutions as shocks that have been able to allocate a particular role in the Afghanistan's economy to itself, with regard to nominal rigidities and monopoly competition in this model. The results show the impulse response functions of production is negative to the external aid shock, financial shock, exchange rate shock, technology shock and external shock and is positive to the monetary shock and cost-shock. An impulse response function of inflation is positive for all shocks except for technology shock.
خلاصه ماشینی:
"Results showed that when there was no rigidity in the model, a momentum equal to the standard deviation of the monetary policy, would have a positive impact on the nominal interest rate, and a negative effect on the product, and would increase inflation.
By dividing the above relation into the foreign price level, the accumulation of real foreign assets is obtained as follows: ��= ��− 1 + � − � − ∗ , � (25) It is presumed that �as the inflation rate is extraneous, and also it is assumed that the dollar, due to an autoregressive process of the first model, is given in the form of a linearized logarithm: �̂= �� �̂−1 + �, � ~ �(0 , 0 ) (26) � � ��� 2 The foreign exchange system in Afghanistan is the floating management exchange system.
/ / Figure 4: An Impulse Response Functions of an Exchange Rate Shock Equivalent to a Standard Deviation for Different Time Delays Source: Research findings The occurrence of a positive shock in government spending, leads to an expansionary fiscal policy and a widespread adoption of a more productive economy by the government."