دانشگاه سیستان و بلوچستان

  اخبار و اعلانات

 آمار

تعداد نشریات32
تعداد شماره‌ها735
تعداد مقالات7,132
تعداد مشاهده مقاله11,584,900
تعداد دریافت فایل اصل مقاله7,938,034
Zargarzadeh, Mina, Heidari, Hassan, Montakhab, Hedayat. (1399). The Effect of Inflation Targeting Policy Implementation on Production Gap in Iran. نشریه علمی دانشگاه سیستان و بلوچستان, 12(1), 123-148. doi: 10.22111/ijbds.2020.5441
Mina Zargarzadeh; Hassan Heidari; Hedayat Montakhab. "The Effect of Inflation Targeting Policy Implementation on Production Gap in Iran". نشریه علمی دانشگاه سیستان و بلوچستان, 12, 1, 1399, 123-148. doi: 10.22111/ijbds.2020.5441
Zargarzadeh, Mina, Heidari, Hassan, Montakhab, Hedayat. (1399). 'The Effect of Inflation Targeting Policy Implementation on Production Gap in Iran', نشریه علمی دانشگاه سیستان و بلوچستان, 12(1), pp. 123-148. doi: 10.22111/ijbds.2020.5441
Zargarzadeh, Mina, Heidari, Hassan, Montakhab, Hedayat. The Effect of Inflation Targeting Policy Implementation on Production Gap in Iran. نشریه علمی دانشگاه سیستان و بلوچستان, 1399; 12(1): 123-148. doi: 10.22111/ijbds.2020.5441

The Effect of Inflation Targeting Policy Implementation on Production Gap in Iran

International Journal of Business and Development Studies
دوره 12، شماره 1، شهریور 2020، صفحه 123-148    اصل مقاله (637.68 K)
شناسه دیجیتال (DOI): 10.22111/ijbds.2020.5441
نویسندگان
Mina Zargarzadeh1؛ Hassan Heidari2؛ Hedayat Montakhab3
1Ph.D. Candidate in Economics, Urmia University, Urmia, Iran
2Professor of Economics Department of Economics Urmia University, Urmia Iran
3Assistant professor of Economics, Faculty of Economics and Management, Urmia University, Urmia, Iran
چکیده
Given the increasing importance of achieving low and stable inflation rate during the last decades, adopting the most suitable practices to implement monetary policies has always been of concern by monetary authorities of different countries. Inflation targeting (IT) regime is the most recent strategy to guide monetary policies that have been introduced following the occurrence of exchange rate targeting and monetary targeting problems. In this respect, in the present research, the performance of a number of IT countries versus that of the non-targeting ones was first investigated employing the difference in difference (DID) method. Then, considering monetary and oil shocks, IT performance in production gap in the economy of Iran was practically examined using smooth transition autoregressive regression (STAR) model. The Results indicated that implementation of IT policy was successful in applying the four main and most influential indicators in the production of treatment countries. In addition, it was revealed that variables such as IT, oil shock, and facility and exchange rates had a statistically negative effect on production shock in the economy of Iran. However, the monetary shock was found to have a statistically positive impact on production shock. Therefore, according to the findings regarding the successful performance of targeting countries, policymakers are recommended to implement IT policy during a long-term interval in order to stabilize it and also provide its prerequisites in the economy of Iran.
JEL classification: E31, E58, E52.
کلیدواژه‌ها
Difference in difference method؛ Inflation targeting؛ Production gap؛ STAR models
مراجع
  1. Akhtar, (1996). Macroeconomic policies and problems in Bangladesh during the Mujib regime (1972-1975), Canadian Journal of Development Studies, 17 (1), 119-136.
  2. Akhtar, , & Anls, CH. (1996). Monetary and Financial Policies in Developing Countries, Growth and Stabilization: London & New York.
  3. Akuns, J. S., Obioma, E. C., Udoh, A. P., Uzonwanne, G. C., Adeke, A. I., & Mohammad, A. A., (2016). Relevance of inflation targeting for developing countries in the new normal: A case of Nigeria (CBN Working Paper Series).
  4. Asgharpour H., Salmani, B., & Jalili Marand, A. R. (2013). The effect of inflation targeting on economic growth in industrial countries, Quarterly of Economic Research and Policy, 21 (65), 5-32.
  5. Asgharpour, H., Barghi Oskooie, M. M., Salmani, B., & Jalili Marand, A. R. (2014). The effect of inflation targeting on inflation rate in non-industrial countries, Trend Quarterly, 21 (68), 55-81.
  6. Eroglu, I., Cinar, M., & Eroglu, N. (2017). An evaluation of the effectiveness of an inflation targeting strategy in Turky, Economic Research, 30 (1), 1536-1552.
  7. Harvey, M. (1997). Focusing the international personal performance appraisal process, Human Resource Development Quarterly, 8 (1), 41-62.
  8. Jendoubi, H. (2016). Inflation targeting and macroeconomic performance: The case of emerging countries, Journal of Economies and Development Studies, 4 (2), 61-74.
  9. Kamijani, A., Alavi, S. M. (2008). The counteractive effect of growth and inflation in Iran. Paper presented at 9th Annual Monetary and Foreign Exchange Conference. Monetary and Banking Research Institute. Central Bank of the Islamic Republic of Iran.
  10. Mehregan, N & Salmani, Y.(2014).Unforeseen oil Price shocks and Economic Growth in Iran; an application of Markov Switching Regression. Journal of Iranian Energy Economics, 12, 183-208.
  11. Mishkin, F. S. (2005). The Economics of Money, Banking, and Financial Market (6th ed.). Addison-Wesley Longman.
  12. Mishkin, F. S., & Westelius, N. J. )2008(. Inflation band targeting and optimal inflation contracts, Journal of Money, Credit and Banking, 40 (4), 557-582.
  13. Mousavi, M. H., & Mosta'ani, Z. (2012). Inflation targeting: Applied to optimal control theory, Economic Modeling Quarterly, 3 (19), 41-58.
  14. Roger, S. (2010). Inflation Targeting Turns 20. Finance and Development, 47 (1), 46-49.
  15. Svensson, L. E. O. (2008). Inflation targeting. In N. Durlauf, Stephen & E. L. Blume (Eds.), The New Palgrave Dictionary of Economics (2nd edition), London: Palgrave Macmillan.
  16. Svensson, L. O. (1995). Optimal inflation target. Conservative Central Banks and Linear Inflation Targets. (NBER Working Paper No. 5251).
  17. Tabatabaee, Z. (2001). Investigating the relationship between inflation and economic growth in Iran. Bank and Economy, 20, 52-57.
  18. Terasvirta, T. (1994). Specification, estimation and evaluation of smooth transition autoregressive models. Journal of the American Statistical Association, 89 (425), 208-2018.
  19. Terasvirta, T., & Anderson, H. (1992). Characterizing nonlinearities in business cycles using smooth transition autoregressive models, Journal of Applied Econometrics, 7 (S), 119-136.
  20. Van Dij, D., Terasvirta, T., & Franses, P. H. (2002). Smooth transition autoregressive models: A survey of recent developments. Econometric Reviews, 21 (1), 1-47.
آمار
تعداد مشاهده مقاله: 422
تعداد دریافت فایل اصل مقاله: 464


سامانه مدیریت نشریات علمی. طراحی و پیاده سازی از سیناوب