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Ebrahimi, Behnam, Vaez Barzani, Mohammad. (1404). Evaluating the Inflationary Rule of Exchange Rate Determination based on the Resistive Economy Strategy (Case Study: Iran). نشریه علمی دانشگاه سیستان و بلوچستان, 17(1), 237-274. doi: 10.22111/ijbds.2025.50506.2179
Behnam Ebrahimi; Mohammad Vaez Barzani. "Evaluating the Inflationary Rule of Exchange Rate Determination based on the Resistive Economy Strategy (Case Study: Iran)". نشریه علمی دانشگاه سیستان و بلوچستان, 17, 1, 1404, 237-274. doi: 10.22111/ijbds.2025.50506.2179
Ebrahimi, Behnam, Vaez Barzani, Mohammad. (1404). 'Evaluating the Inflationary Rule of Exchange Rate Determination based on the Resistive Economy Strategy (Case Study: Iran)', نشریه علمی دانشگاه سیستان و بلوچستان, 17(1), pp. 237-274. doi: 10.22111/ijbds.2025.50506.2179
Ebrahimi, Behnam, Vaez Barzani, Mohammad. Evaluating the Inflationary Rule of Exchange Rate Determination based on the Resistive Economy Strategy (Case Study: Iran). نشریه علمی دانشگاه سیستان و بلوچستان, 1404; 17(1): 237-274. doi: 10.22111/ijbds.2025.50506.2179

Evaluating the Inflationary Rule of Exchange Rate Determination based on the Resistive Economy Strategy (Case Study: Iran)

International Journal of Business and Development Studies
مقاله 12، دوره 17، شماره 1، تیر 2025، صفحه 237-274    اصل مقاله (1.61 M)
نوع مقاله: Research Paper
شناسه دیجیتال (DOI): 10.22111/ijbds.2025.50506.2179
نویسندگان
Behnam Ebrahimi* 1؛ Mohammad Vaez Barzani2
1PhD in Monetary/Financial Economics, University of Isfahan
2Department of Economics, Faculty of Administrative Sciences and Economics, University of Isfahan, Esfahan, Iran
چکیده
The exchange rate is a critical variable that impacts the economy in the international environment. The purpose of this study is to evaluate and compare the two approaches to exchange rate determination outlined in the Law on Permanent Decrees of the Country's Development Programs under economic sanctions. The analysis involves a theoretical discussion of a set of mathematical equations and software results, obtained from the algebraic and numerical solving of a simulated version of a dynamic stochastic general equilibrium model in the context of the international economy for a small open economy. The model is calibrated using the structural parameters of the Iranian economy. The criterion for evaluating the rule and comparing it with other policy options is the "stability" of macroeconomic variables, a key aspect of the Resistive Economy Strategy as the obliging basic document in economic policy-making and planning. The stability is quantified using the "Variance" index. Based on the results of this study, the adoption of the rule-based inflationary exchange rate determination approach, compared with the contingency approach to exchange rate determination, on the one hand, offers the possibility of achieving lower inflation rates and exchange rate growth pace. On the other hand, it will reduce the instability of selected macroeconomic variables, which is desirable from the perspective of the overall policies of the resistance economy strategy. Therefore, it is recommended that, in the presence of foreign economic sanctions, the economic authority should implement inflationary rule of exchange rate determination based on the current inflation rate.
کلیدواژه‌ها
Inflationary Rule of Exchange Rate Determination (IR-ERD)؛ Discretionary Approach to Exchange Rate Determination (DA-ERD)؛ Economic Sanctions؛ and Resistive Economy Strategy (RES)
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