EVALUATING AND COMPARING OF MONETARY POLICY INSTRUMENTAL RULES FOR ECONOMIC OF IRAN

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ERFANI ALIREZA; TALEBBEIDOKHTI AZADEH

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Journal: Journal of Economic Research Year:2014 | Volume:48 | Issue:4 Page(s): 145-166

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Information Journal Paper

Title

EVALUATING AND COMPARING OF MONETARY POLICY INSTRUMENTAL RULES FOR ECONOMIC OF IRAN

Author(s)

ERFANI ALIREZA | TALEBBEIDOKHTI AZADEH | Issue Writer Certificate

Keywords

INSTRUMENTAL RULESQ2

MONETARY POLICYQ2

THE PERSISTENCE OF THE OUTPUT GAPQ2

HYBRID NEW KEYNESIAN MODELQ2

IRANIAN ECONOMYQ2

Abstract

Today, the discussion of regularity MONETARY POLICY in achieving inflation and output gap stabilization targets is important. In this paper, we investigated the persistence of output gap in IRANIAN ECONOMY. Using a HYBRID NEW KEYNESIAN MODEL over the period 1990:1- 2011:3, we compared three alternative INSTRUMENTAL RULES in MONETARY POLICY.The results indicated that in IRANIAN ECONOMY, first, output gap is forwardlooking and has little degree of persistence. Second, inflation targeting rule in comparison with the price level and speed limit targeting rule has the lowest social loss. In addition, the result of estimating coefficients under alternative rules showed that in comparison with other INSTRUMENTAL RULES, inflation targeting and the first equation of price-level targeting have well predicting power, especially in long-term forecasting horizons.

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APA: Copy

ERFANI, ALIREZA, & TALEBBEIDOKHTI, AZADEH. (2014). EVALUATING AND COMPARING OF MONETARY POLICY INSTRUMENTAL RULES FOR ECONOMIC OF IRAN. TAHGHIGHAT-E-EGHTESADI, 48(4), 145-166. SID. https://sid.ir/paper/11819/en

Vancouver: Copy

ERFANI ALIREZA, TALEBBEIDOKHTI AZADEH. EVALUATING AND COMPARING OF MONETARY POLICY INSTRUMENTAL RULES FOR ECONOMIC OF IRAN. TAHGHIGHAT-E-EGHTESADI[Internet]. 2014;48(4):145-166. Available from: https://sid.ir/paper/11819/en

IEEE: Copy

ALIREZA ERFANI, and AZADEH TALEBBEIDOKHTI, “EVALUATING AND COMPARING OF MONETARY POLICY INSTRUMENTAL RULES FOR ECONOMIC OF IRAN,” TAHGHIGHAT-E-EGHTESADI, vol. 48, no. 4, pp. 145–166, 2014, [Online]. Available: https://sid.ir/paper/11819/en

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