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J. Mon. Ec. 2013, 8(3): 117-150 Back to browse issues page
Macroeconomic Impacts of Export Barriers in a Dynamic CGE Model
Iman Haqiqi 1, Marziyeh Bahalou Horeh2
1- University of Economic Sciences, Tehran
2- University of Isfahan
Abstract:   (3343 Views)

A large economic literature discusses the implications of export sanctions for a variety of states around the world. This paper investigates the macro-level consequences of imposing oil export barriers on an oil exporting country. We employ a large real financial computable general equilibrium for Iran. The model is calibrated based on 1999 Social Accounting Matrix for the economy of Iran including 112 commodities and 47 activities. We find that the impact of a 50% negative shock in oil export would amount to a 4.6% reduction in GDP, a 6.8% fall in private consumption, a 20.2% cut in government spending, a 20.4% decrease in import, a 9.9% contraction in capital formation, and a +29.2% increase in non-oil export. We also find that there is a conflict between government benefits and national benefit. Our sensitivity analysis proves the robustness of the results. 
JEL Classification: F51, F47, C68, E16

Received: 5/21/2014         Approved: 12/14/2014

Keywords: export barriers, government spending, capital formation, Computable General Equilibrium, Social Accounting Matrix
Full-Text [PDF 463 kb]   (1757 Downloads)    
Type of Study: Research | Subject: Economics
Received: 2015/02/15 | Accepted: 2015/02/15 | Published: 2015/02/15
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Haqiqi I, Bahalou Horeh M. Macroeconomic Impacts of Export Barriers in a Dynamic CGE Model. J. Mon. Ec.. 2013; 8 (3) :117-150
URL: http://jme.mbri.ac.ir/article-1-117-en.html

Volume 8, Issue 3 (summer 2013) Back to browse issues page
Journal of Money and Economy Journal of Money And Economy
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