Investigation the possibility of hedging inflation by gold coin in Iran

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MOTAMENI MANI; ZAROKI SHAHRIAR; Zameni Kosar

مرکز اطلاعات علمی Scientific Information Database (SID) - Trusted Source for Research and Academic Resources

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Journal: Journal of Quantitative Economics Year:2019 | Volume:16 | Issue:2 Page(s): 125-143

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Title

Investigation the possibility of hedging inflation by gold coin in Iran

Author(s)

MOTAMENI MANI | ZAROKI SHAHRIAR | Zameni Kosar | Issue Writer Certificate

Keywords

goldQ2

inflationQ1

cointegrationQ1

hedgingQ2

NARDLQ1

Abstract

In countries such as Iran that face chronic inflation, inflation hedging is an essential tool for the financial market. Banks, pension funds and life insurances need this tool to survive or improve their performance. Typically, types of assets such as gold, silver, land and housing are used to maintain the value of money against inflation. While formation of coin index, the virtual market of gold is available in Tehran stock exchange. This study tries to test the ability to hedging inflation by gold using the monthly data of the consumer price index and the price of gold coins from 2005 to June 2017. The results indicate that there is an asymmetric relationship between these two variables. When prices rise above the average inflation rate, gold price will grow more than inflation. But while CPI growth is lower than the average inflation rate, there is no significant relationship between inflation and gold price changes. According to estimated coefficient and bounds test, gold can be considered as a inflation hedger in Iran.

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APA: Copy

MOTAMENI, MANI, ZAROKI, SHAHRIAR, & Zameni, Kosar. (2019). Investigation the possibility of hedging inflation by gold coin in Iran. JOURNAL OF QUANTITATIVE ECONOMICS (QUARTERLY JOURNAL OF ECONOMICS REVIEW), 16(2 ), 125-143. SID. https://sid.ir/paper/404657/en

Vancouver: Copy

MOTAMENI MANI, ZAROKI SHAHRIAR, Zameni Kosar. Investigation the possibility of hedging inflation by gold coin in Iran. JOURNAL OF QUANTITATIVE ECONOMICS (QUARTERLY JOURNAL OF ECONOMICS REVIEW)[Internet]. 2019;16(2 ):125-143. Available from: https://sid.ir/paper/404657/en

IEEE: Copy

MANI MOTAMENI, SHAHRIAR ZAROKI, and Kosar Zameni, “Investigation the possibility of hedging inflation by gold coin in Iran,” JOURNAL OF QUANTITATIVE ECONOMICS (QUARTERLY JOURNAL OF ECONOMICS REVIEW), vol. 16, no. 2 , pp. 125–143, 2019, [Online]. Available: https://sid.ir/paper/404657/en

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