LUCAS CRITIQUE AND PHILLIPS CURVE: THE CASE OF IRAN 1961-2007

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HADIAN EBRAHIM; NEJATI MAHDI

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Journal: Macroeconomic Research Letter Year:2009 | Volume:9 | Issue:2 (35) Page(s): 127-140

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Information Journal Paper

Title

LUCAS CRITIQUE AND PHILLIPS CURVE: THE CASE OF IRAN 1961-2007

Author(s)

HADIAN EBRAHIM | NEJATI MAHDI | Issue Writer Certificate

Keywords

LUCAS CRITIQUEQ2

PHILLIPS CURVEQ3

IRANIAN ECONOMYQ2

Abstract

LUCAS CRITIQUE based on the optimize decisions of economic units is changed systematically with changing in decision-making process of policy makers, caused that the ability of macro-economic models has been considered such as the PHILLIPS CURVE in the prediction of the economic policies. Based on the importance of these models and using them to predict, the dependence to the LUCAS CRITIQUE test and on the other words to the parameters stability test in the desired models are required. Regarding the importance of PHILLIPS CURVE in the monetary and fiscal policies, in this study tried to focus to the parameters stability test. To reach the goal, methods of Bai and Perron and also annual data during 1961-2007 in IRANIAN ECONOMY have been used. The findings show that along with changes in expectations of economic units, the PHILLIPS CURVE with different slope has shifted and the parameters have not the required stability. As a result the economic policy makers in Iran cannot rely on the existence of a significant relationship between economic variables of the past using PHILLIPS CURVE model and broaden it to the future and based on that, predict the interesting economic policies.

Cites

NONLINEAR MODELING OF STRUCTURAL BREAKS CONCERNING MONEY DEMAND FUNCTION IN IRAN USING FUZZY APPROACH

References

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APA: Copy

HADIAN, EBRAHIM, & NEJATI, MAHDI. (2009). LUCAS CRITIQUE AND PHILLIPS CURVE: THE CASE OF IRAN 1961-2007. JOURNAL OF MACROECONOMICS (JOURNAL OF ECONOMICS SCIENCES), 9(2 (35)), 127-140. SID. https://sid.ir/paper/150905/en

Vancouver: Copy

HADIAN EBRAHIM, NEJATI MAHDI. LUCAS CRITIQUE AND PHILLIPS CURVE: THE CASE OF IRAN 1961-2007. JOURNAL OF MACROECONOMICS (JOURNAL OF ECONOMICS SCIENCES)[Internet]. 2009;9(2 (35)):127-140. Available from: https://sid.ir/paper/150905/en

IEEE: Copy

EBRAHIM HADIAN, and MAHDI NEJATI, “LUCAS CRITIQUE AND PHILLIPS CURVE: THE CASE OF IRAN 1961-2007,” JOURNAL OF MACROECONOMICS (JOURNAL OF ECONOMICS SCIENCES), vol. 9, no. 2 (35), pp. 127–140, 2009, [Online]. Available: https://sid.ir/paper/150905/en

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