Quarterly Journal of Quantitative Economics (JQE)

Study of Relationship Monetary Policies and Economic Fluctuations in Iran (Rational Expectation Frame)

https://doi.org/10.22055/jqe.2010.10651
Volume 7, Issue 2 - Serial Number 2
Summer 2010
Pages 57-74
Quarterly Journal of Quantitative Economics (JQE)

Authors

Narges Khajeh Roshanayi
Nasser Shahnoushi
Yadolla Azarinfar
Roya Mohammadzadeh
Afshin Amjadi
Abstract
The main purpose of this study is to investigate impacts of monetary policy on macroeconomic variables and fluctuations with methods such as Rational Expectation (Azam theory), Pesaran and Shin and Hendry during 1973-2006.
The results show that analyzing the impacts of real effective exchange rate(reer) and inflation rate(inf) in rational expectation framework  isn’t possible. Both central bank policy tools have great impact on reer and inf (long run & short run). So choosing a good and suitable policy is very important for macroeconomic stability.

Keywords

Monetary policy
macroeconomic stability
rational expectation Iran
  • Receive Date 24 June 2014
  • First Publish Date 24 June 2014
  • Publish Date 22 June 2010

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