OPTIMAL EXCHANGE REGIM FOR IRANIAN ECONOMY: DSGE APPROACH

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MAHMOUDZADEH MOHAMMAD; SADEGHI SOMAYEH

مرکز اطلاعات علمی Scientific Information Database (SID) - Trusted Source for Research and Academic Resources

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Journal: Journal of Economic Research Year:2017 | Volume:52 | Issue:1 Page(s): 139-162

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Title

OPTIMAL EXCHANGE REGIM FOR IRANIAN ECONOMY: DSGE APPROACH

Author(s)

MAHMOUDZADEH MOHAMMAD | SADEGHI SOMAYEH | Issue Writer Certificate

Keywords

EXCHANGE RATE REGIMEQ2

MONETARY POLICYQ2

PASS-THROUGH EXCHANGE RATE EFFECTQ1

DSGE MODELQ1

Abstract

This paper compares alternative MONETARY POLICY rules for Iranian economy in faces to both internal and external shocks. In other words, we focus on investigating of macroeconomic variables responses respected to money base and terms of trade shocks, under three types of monetary rules including fixed exchange rate, inflation targeting and floating of nominal exchange rate at the hard peg through an intermediate EXCHANGE RATE REGIME.The results show that the intermediate EXCHANGE RATE REGIME create higher volatilities in investment and production in both tradable and non tradable sectors, but the reactions of inflation and real exchange rate are convincing. By contrast, the inflation targeting rule induces to lower volatilities in investment, consumption and production, but it tends to higher volatilities of inflation and real exchange rate. Therefore, it seems appropriate for Iranian monetary authorities to conduct this rule in the context of an intermediate EXCHANGE RATE REGIME, as a preliminary phase before the transition to a floating regime.

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APA: Copy

MAHMOUDZADEH, MOHAMMAD, & SADEGHI, SOMAYEH. (2017). OPTIMAL EXCHANGE REGIM FOR IRANIAN ECONOMY: DSGE APPROACH. TAHGHIGHAT-E-EGHTESADI, 52(1 ), 139-162. SID. https://sid.ir/paper/11760/en

Vancouver: Copy

MAHMOUDZADEH MOHAMMAD, SADEGHI SOMAYEH. OPTIMAL EXCHANGE REGIM FOR IRANIAN ECONOMY: DSGE APPROACH. TAHGHIGHAT-E-EGHTESADI[Internet]. 2017;52(1 ):139-162. Available from: https://sid.ir/paper/11760/en

IEEE: Copy

MOHAMMAD MAHMOUDZADEH, and SOMAYEH SADEGHI, “OPTIMAL EXCHANGE REGIM FOR IRANIAN ECONOMY: DSGE APPROACH,” TAHGHIGHAT-E-EGHTESADI, vol. 52, no. 1 , pp. 139–162, 2017, [Online]. Available: https://sid.ir/paper/11760/en

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