TY - BOOK ID - 84542971 TI - An Estimated Dynamic Stochastic General Equilibrium Model of the Jordanian Economy AU - Poghosyan, Tigran. AU - Beidas-Strom, Samya. PY - 2011 SN - 1462355722 1455290211 1283558734 9786613871183 1455216828 PB - Washington, D.C. : International Monetary Fund, DB - UniCat KW - Monetary policy KW - Foreign exchange rates KW - Consumption (Economics) KW - Income KW - Family income KW - Fortunes KW - Household income KW - Personal income KW - Economics KW - Finance KW - Property KW - Wealth KW - Gross national product KW - Profit KW - Purchasing power KW - Consumer demand KW - Consumer spending KW - Consumerism KW - Spending, Consumer KW - Demand (Economic theory) KW - Exchange rates KW - Fixed exchange rates KW - Flexible exchange rates KW - Floating exchange rates KW - Fluctuating exchange rates KW - Foreign exchange KW - Rates of exchange KW - Monetary management KW - Economic policy KW - Currency boards KW - Money supply KW - Econometric models. KW - Rates KW - Inflation KW - Macroeconomics KW - Macroeconomics: Consumption KW - Saving KW - Energy: Demand and Supply KW - Prices KW - Price Level KW - Deflation KW - Labor Economics: General KW - Labour KW - income economics KW - Consumption KW - Oil prices KW - Oil consumption KW - Labor KW - Labor economics KW - Jordan KW - Income economics UR - https://www.unicat.be/uniCat?func=search&query=sysid:84542971 AB - This paper presents and estimates a small open economy dynamic stochastic general-equilibrium model (DSGE) for the Jordanian economy. The model features nominal and real rigidities, imperfect competition and habit formation in the consumer’s utility function. Oil imports are explicitly modeled in the consumption basket and domestic production. Bayesian estimation methods are employed on quarterly Jordanian data. The model’s properties are described by impulse response analysis of identified structural shocks pertinent to the economy. These properties assess the effectiveness of the pegged exchange rate regime in minimizing inflation and output trade-offs. The estimates of the structural parameters fall within plausible ranges, and simulation results suggest that while the peg amplifies output, consumption and (price and wage) inflation volatility, it offers a relatively low risk premium. ER -