A survey of the effective factors on reputation of monetary authority of Iran

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BASTANIFAR IMAN

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Title

A survey of the effective factors on reputation of monetary authority of Iran

Author(s)

BASTANIFAR IMAN | Issue Writer Certificate

Keywords

expected inflationQ2

inflationQ2

monterey’s authorityQ2

reputationQ1

Abstract

reputation of a monetary authority is the economic agent’ s belief on the ability of monetary authority in controlling the deviation between target inflation and observed inflation (inflation bias). Monterey authorities, on one hand, can attract agent’ s trust to his polices thereby leading to a lower inflation expectations and inflation bias. But on the other hand, government pressure on the monetary authority to compensate budget deficit or government decision to deal with unemployment would lead to higher deviation between target inflation and observed inflation. In this survey, in order to test and analyze the reputation of the monetary authority, chisel-prone’ credibility and Autoregressive Integrated Moving Average (ARIMA) lin-log models of time series based on the model of Barro and Gorden (1983) have been applied using two-tailed t-student, during the years of 1979 to 2009 (end of the forth developing plan). The results show that monetary authority was not reputational during the second, third and fourth developing plan. Also, oil price by one lag, real GDP and unemployment by 3 lags have positive effects and discretionary monetary policy (creation of money and loan) and the previous lack of reputation by two lags have negative effects on the reputation of a monetary authority.

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APA: Copy

BASTANIFAR, IMAN. (2015). A survey of the effective factors on reputation of monetary authority of Iran. TAHGHIGHAT-E-EGHTESADI, 50(2 ), 281-304. SID. https://sid.ir/paper/11802/en

Vancouver: Copy

BASTANIFAR IMAN. A survey of the effective factors on reputation of monetary authority of Iran. TAHGHIGHAT-E-EGHTESADI[Internet]. 2015;50(2 ):281-304. Available from: https://sid.ir/paper/11802/en

IEEE: Copy

IMAN BASTANIFAR, “A survey of the effective factors on reputation of monetary authority of Iran,” TAHGHIGHAT-E-EGHTESADI, vol. 50, no. 2 , pp. 281–304, 2015, [Online]. Available: https://sid.ir/paper/11802/en

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