[Home ] [Archive]   [ فارسی ]  
:: Main :: About :: Archive :: Search :: Submit :: Contact ::
Main Menu
Journal Information::
Articles archive::
For Authors::
For Reviewers::
Contact us::
Site Facilities::
Search in website

Advanced Search
Receive site information
Enter your Email in the following box to receive the site news and information.
:: Volume 2, Issue 8 (9-2012) ::
2012, 2(8): 87-117 Back to browse issues page
Monetary Policy under Fiscal Dominance and Implicit Inflation Target in Iran: A DSGE Approach
Hossein Tavakolian , Akbar Komijani
Abstract:   (9495 Views)

  It is more likely that the monetary policy in Iran is discretionary and not based on a rule or a target. Besides, what is clear is that there have been explicit targets for inflation and economic growth in all five-year development plans (except the fifth plan). However, the question is that do policy makers observe the targets of development plans? Using an adjusted New Keynesian DSGE model for Iran, in this study we investigate the monetary policy under fiscal dominance and implicit inflation targeting of Iran. The results show that in most plans monetary authorities do not observe the explicit targets of five-year plans. The estimated monetary reaction function is only able to explain the period 2001-2011. The other result is that implementation delays of public projects have considerable effects on output and private consumption.

Keywords: Monetary Policy, DSGE, Implicit Inflation Target, Fiscal Dominance.
Type of Study: Applicable | Subject: پولی و مالی
Received: 2012/09/3 | Accepted: 2012/11/12 | Published: 2012/09/15
Send email to the article author

Add your comments about this article
Your username or Email:


XML   Persian Abstract   Print

Download citation:
BibTeX | RIS | EndNote | Medlars | ProCite | Reference Manager | RefWorks
Send citation to:

tavakolian H, komijani A. Monetary Policy under Fiscal Dominance and Implicit Inflation Target in Iran: A DSGE Approach. Journal title 2012; 2 (8) :87-117
URL: http://jfm.khu.ac.ir/article-1-539-en.html

Rights and permissions
Creative Commons License This work is licensed under a Creative Commons Attribution-NonCommercial 4.0 International License.
Volume 2, Issue 8 (9-2012) Back to browse issues page
فصلنامه تحقیقات مدلسازی اقتصادی Journal of Economic Modeling Research
Persian site map - English site map - Created in 0.1 seconds with 37 queries by YEKTAWEB 4645