Investigating the Impact of Monetary Policy on Value Added Growth in Iran's Industrial Sub-Sectors (Positive Mathematical Programming Approach) with Emphasis on Wood industry sub-sector

The industry sector is considered as one of the important and vital parts of the economy. On the other hand, monetary policy is also stimulating the demand side of the economy for growth of production and labor and the level of prices. In connection with other sectors, this one has proven to play a significant role in production and productivity. The purpose of this study was to investigate the effect of monetary policy on the value added in the wood products sector is based on the use of positive mathematical programming during the periode of 1990 - 2016. In the PMP method, the data of the existing conditions are reconstructed, the constraints of decision makers' truth and the manufacturer are considered in real terms, and this optimization model is very useful for analyzing policies in the present situation. The results of this paper showed that the decreasing and incremental policies of monetary variables (liquidity and bank interest rate) in different scenarios have an effect on the added value of optimizing that subsection. Also, an important indicator of this method is to calculate the optimal value added of each sub-section in its base year and its targeting capability in some other scenarios. For example, in the first scenario, in the case of a 5, 10, and 20 percent reduction in liquidity, value added will increase by 4, 8 and 18 percent in the wood and wood products industry. In this scenario, the drop in the policy variable will also increase the bank interest rate by as much as 5, 8 and 16 percent in the added value.