A survey of the steadiness of Iran's economy under full-reserve banking

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MAHMOUDINIA DAVOUD; Borhani Leyla; SATTARI OMID

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Journal: Journal of Economic Policy Year:2020 | Volume:11 | Issue:22 Page(s): 191-224

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Title

A survey of the steadiness of Iran's economy under full-reserve banking

Author(s)

MAHMOUDINIA DAVOUD | Borhani Leyla | SATTARI OMID | Issue Writer Certificate

Keywords

Full-reserve bankingQ1

Fractional reserve bankingQ2

Government moneyQ1

Stock-flow consistencyQ1

Abstract

Since long, Fractional reserve banking has played a role in creating private money and caused economic problems such as depression, inflation, increase of public debts, and so on. Currently, Full-reserve banking proposed as a solution to make reforms is supported by many economists. This study presents a stock-flow consistent model of Full-reserve banking for Iran's economy. Money creation at the time of government budget deficit under Full-reserve banking can provide almost zero inflation and full employment. The amount of government debts has remained unchanged, but the wealth of households has increased. The amount of bank deposits and loans has also increased in these conditions, and the liquidity of banks has been at its optimum level. This study also included the oil sector (model innovation) to examine the process of allocating oil resources to the national development under Full-reserve banking. It is found that an increase in the current expenditures will increase the allocation of oil resources to capital expenditure and reduce the resources of the development funds. However, in a new steady state, all the oil revenues move toward the national development funds and, in this case, the government experiences a small budget surplus that will persistent.

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APA: Copy

MAHMOUDINIA, DAVOUD, Borhani, Leyla, & SATTARI, OMID. (2020). A survey of the steadiness of Iran's economy under full-reserve banking. BIQUARTERLY JOURNAL OF ECONOMIC RESEARCH, 11(22 ), 191-224. SID. https://sid.ir/paper/384391/en

Vancouver: Copy

MAHMOUDINIA DAVOUD, Borhani Leyla, SATTARI OMID. A survey of the steadiness of Iran's economy under full-reserve banking. BIQUARTERLY JOURNAL OF ECONOMIC RESEARCH[Internet]. 2020;11(22 ):191-224. Available from: https://sid.ir/paper/384391/en

IEEE: Copy

DAVOUD MAHMOUDINIA, Leyla Borhani, and OMID SATTARI, “A survey of the steadiness of Iran's economy under full-reserve banking,” BIQUARTERLY JOURNAL OF ECONOMIC RESEARCH, vol. 11, no. 22 , pp. 191–224, 2020, [Online]. Available: https://sid.ir/paper/384391/en

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