EFFECTS OF MONETARY POLICY ON GROSS DEVELOPMENT PRODUCT AND INFLATION THROUGH HOUSE PRICE INDEX IN IRAN

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SHARIFI RENANI H.; GHOBADI S.; AMROLLAHI F.; HONARVAR N.

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Journal: Journal Of Development Economics and Planning Year:2012 | Volume:1 | Issue:1 Page(s): 49-68

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Title

EFFECTS OF MONETARY POLICY ON GROSS DEVELOPMENT PRODUCT AND INFLATION THROUGH HOUSE PRICE INDEX IN IRAN

Author(s)

SHARIFI RENANI H. | GHOBADI S. | AMROLLAHI F. | HONARVAR N. | Issue Writer Certificate

Keywords

ASSET PRICE CHANNELQ2

PRICE INDEXQ3

VECTOR ERROR CORRELATION MODELQ2

DEBT OF BANKS TO THE CENTRAL BANKQ2

REQUIRED RESERVE RATIOQ2

Abstract

The purpose of this research was to analyze the effect of monetary policy on gross domestic product and inflation via house PRICE INDEX as a proxy for other assets in Iran in 1989-2008. For the analysis time series data and vector error correlation method were used. The results showed that in the pattern 1 the positive monetary shocks in the short run increased the product and decreased the prices but, in the long run it decreased the product and increased the prices. The debt shocks of the banks to the central bank in the short run had little effect on the product and the prices. In the intermediate run these shocks had decreased the product and increased the prices. And in the long run it increased the product and decreased the prices. In pattern 2 positive shock of the legal deposits ratio leads to decrease in the production and increase in the inflation in the short, intermediate and the long run, through the banking lending. Results shoed also that money policy instruments (banks loan to the central bank and the rate of legal deposits) had a little effect on the granted facilities of the banks.

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APA: Copy

SHARIFI RENANI, H., GHOBADI, S., AMROLLAHI, F., & HONARVAR, N.. (2012). EFFECTS OF MONETARY POLICY ON GROSS DEVELOPMENT PRODUCT AND INFLATION THROUGH HOUSE PRICE INDEX IN IRAN. JOURNAL OF DEVELOPMENT ECONOMICS AND PLANNING, 1(1 ), 49-68. SID. https://sid.ir/paper/254813/en

Vancouver: Copy

SHARIFI RENANI H., GHOBADI S., AMROLLAHI F., HONARVAR N.. EFFECTS OF MONETARY POLICY ON GROSS DEVELOPMENT PRODUCT AND INFLATION THROUGH HOUSE PRICE INDEX IN IRAN. JOURNAL OF DEVELOPMENT ECONOMICS AND PLANNING[Internet]. 2012;1(1 ):49-68. Available from: https://sid.ir/paper/254813/en

IEEE: Copy

H. SHARIFI RENANI, S. GHOBADI, F. AMROLLAHI, and N. HONARVAR, “EFFECTS OF MONETARY POLICY ON GROSS DEVELOPMENT PRODUCT AND INFLATION THROUGH HOUSE PRICE INDEX IN IRAN,” JOURNAL OF DEVELOPMENT ECONOMICS AND PLANNING, vol. 1, no. 1 , pp. 49–68, 2012, [Online]. Available: https://sid.ir/paper/254813/en

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