Evaluation of Trade Rent-Seeking Effects on the Iran’s Economy through Dynamic Stochastic General Equilibrium Model

Subject Areas : Labor and Demographic Economics

samaneh  moghaddasfar ¹ (Isfahan University)
seyed komail  tayebi ² (Isfahan university)
alimorad  sharifi ³ (Isfahan university)

Received: 2017-12-17 Accepted : 2017-12-17 Published : 2017-11-22

Keywords: Foreign Trade, Dynamic Stochastic General Equilibrium, Rent-Seeking, Productive Labor,

Abstract :

The purpose of this paper is to design a Dynamic Stochastic General Equilibriummodel to examine the effect of trade rent-seeking on labor behavior in Iran's economy. The empirical results of the analysis of Impulse Response Functions indicate that, with the positive shock of the trade revenue, the trade rent-seeking rate has increased, and the labors has reduced its productive activity. In order to examine more precisely the welfare cost of rent-seeking, by Lucas's compensated variation pattern has been shown to decrease a 10% in rent-seeking rate it is increased households welfare benefit by 6%. Therefore, it is suggested that the economic policymaker with the import tariff setting based on the economic and society’s livelihood needs restricts the bargaining by the owners of the profit.

References:

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