Macroeconomists have found that changes in future expectations could be the main source of economic fluctuations. On the one hand, good news about the future will lead to a bust and on the other hand, it is difficult to adapt the implicit negative movement of macroeconomic variables when they have a strong positive unconditional movement. If good news about future productivity can lead to a boom today, the awareness that productivity is worse than expected may also cause a bust while there is no actual reduction in productivity. This paper investigates the impact of news and technology shocks by using neo-Keynesian DSGE models on small open economies in Iran. The data used in this paper include seasonal time series from 1974 to 2014. Calibration was done after designing the model. The results showed that a positive technology shock would lead to a positive production deviation in the economy and deviation of consumption from the long-term static values. In addition,
