IMPACT OF GOVERNMENT POLICIES ON THE INFLATION RATE IN IRAN: AN APPLICATION OF LEARNING PROCESS IN THE FRAMEWORK OF RATIONAL EXPECTATIONS

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FARAHMAND GELYAN KAZEM; SHAHNOUSHI NASSER

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Journal: JOURNAL OF SUSTAINABLE GROWTH AND DEVELOPMENT (THE ECONOMIC RESEARCH) Year:2013 | Volume:13 | Issue:2 Page(s): 129-149

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Title

IMPACT OF GOVERNMENT POLICIES ON THE INFLATION RATE IN IRAN: AN APPLICATION OF LEARNING PROCESS IN THE FRAMEWORK OF RATIONAL EXPECTATIONS

Author(s)

FARAHMAND GELYAN KAZEM | SHAHNOUSHI NASSER | Issue Writer Certificate

Keywords

RATIONAL EXPECTATIONSQ3

MONETARY POLICYQ2

KALMAN FILTERQ2

INFLATIONARY EXPECTATIONSQ2

STATE SPACE MODELQ2

LEARNING PROCESSQ2

Abstract

Today, policymakers and economists use widely RATIONAL EXPECTATIONS (RE) in monetary, financial and regulatory policies to improve their country economic performance. In some of the pertinent models to these policies, expectations have been formed by assuming rationality and full information on economics. Indeed, economic agents have no perfect information about some parameters of these models. These unknown parameters can be estimated in the form RATIONAL EXPECTATIONS during LEARNING PROCESS. In this research, the impact of government policies on the inflation rate has been modeled on the basis of RATIONAL EXPECTATIONS under LEARNING PROCESS. Data has been gathered from Central Bank of Iran (CBI) and Iran’s economic development plans over the period 1989-2009. Results show that current inflation in the country originates mainly from economy structure and government policies, so share of public INFLATIONARY EXPECTATIONS is negligible. In addition, the LEARNING PROCESS in Iran will converge to RATIONAL EXPECTATIONS, thus government policies for reducing inflation and increasing employment are inefficient. It is recommended that government adopt unanticipated and sudden policies to be effective its plans.

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APA: Copy

FARAHMAND GELYAN, KAZEM, & SHAHNOUSHI, NASSER. (2013). IMPACT OF GOVERNMENT POLICIES ON THE INFLATION RATE IN IRAN: AN APPLICATION OF LEARNING PROCESS IN THE FRAMEWORK OF RATIONAL EXPECTATIONS. JOURNAL OF SUSTAINABLE GROWTH AND DEVELOPMENT (THE ECONOMIC RESEARCH), 13(2), 129-149. SID. https://sid.ir/paper/86595/en

Vancouver: Copy

FARAHMAND GELYAN KAZEM, SHAHNOUSHI NASSER. IMPACT OF GOVERNMENT POLICIES ON THE INFLATION RATE IN IRAN: AN APPLICATION OF LEARNING PROCESS IN THE FRAMEWORK OF RATIONAL EXPECTATIONS. JOURNAL OF SUSTAINABLE GROWTH AND DEVELOPMENT (THE ECONOMIC RESEARCH)[Internet]. 2013;13(2):129-149. Available from: https://sid.ir/paper/86595/en

IEEE: Copy

KAZEM FARAHMAND GELYAN, and NASSER SHAHNOUSHI, “IMPACT OF GOVERNMENT POLICIES ON THE INFLATION RATE IN IRAN: AN APPLICATION OF LEARNING PROCESS IN THE FRAMEWORK OF RATIONAL EXPECTATIONS,” JOURNAL OF SUSTAINABLE GROWTH AND DEVELOPMENT (THE ECONOMIC RESEARCH), vol. 13, no. 2, pp. 129–149, 2013, [Online]. Available: https://sid.ir/paper/86595/en

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