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Information Journal Paper

Title

TEST OF TIME INCONSISTENCY OF IRAN’S ECONOMY

Pages

  699-727

Abstract

 Time inconsistency is a situation in which preferences of a decision maker (a planner or an agent) change over time. Kydland and Prescott the economics nobel laurated (2004) declares that the reason of STAGFLATION in the 1970s is due to the upward shifting expected inflation, because of the short run and discretionary government intervention on the economy. Therefore, the most important issue of a government is changing the structure and way of decision making among the decion makers overcome the expected inflation. In this paper, we introduce the phenomenon of TIME INCONSISTENCY based on kydland and prescot (1977) model and testing it by focusing on fiscal section of Iran’s economy by using. the long-run Phillips curve, time series data for years of 1979 to 2009 (end of the fourth developing plan of Iran) and the method of ordinary least squares (OLS). It has also used Augmented Dicky Fuler test of Unit root and VAR Estimation. In order to test the locus Crises, recursive and rolling regression have been applied. The results show that Iran’s economy suffers from the phenomenon of TIME INCONSISTENCY, because of government’s fiscal discreationary policy making.

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    APA: Copy

    BASTANIFAR, IMAN. (2015). TEST OF TIME INCONSISTENCY OF IRAN’S ECONOMY. TAHGHIGHAT-E-EGHTESADI, 49(4), 699-727. SID. https://sid.ir/paper/12145/en

    Vancouver: Copy

    BASTANIFAR IMAN. TEST OF TIME INCONSISTENCY OF IRAN’S ECONOMY. TAHGHIGHAT-E-EGHTESADI[Internet]. 2015;49(4):699-727. Available from: https://sid.ir/paper/12145/en

    IEEE: Copy

    IMAN BASTANIFAR, “TEST OF TIME INCONSISTENCY OF IRAN’S ECONOMY,” TAHGHIGHAT-E-EGHTESADI, vol. 49, no. 4, pp. 699–727, 2015, [Online]. Available: https://sid.ir/paper/12145/en

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