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Money and Inflation in the Islamic Republic of Iran

This paper looks at the determinants of inflation in Iran. Unlike the traditional estimates of the demand function for real money balances, the approach followed here focuses on the relationship between nominal variables and inflation. The model estimates are used to address the questions raised by...

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Bibliographic Details
Main Author: Bonato, Leo
Format: eBook
Language:English
Published: Washington, D.C. International Monetary Fund 2007
Series:IMF Working Papers
Subjects:
Inflation
Monetary Economics
Currency; Foreign Exchange
Inflation Targeting
Deflation
Nominal Effective Exchange Rate
Money
Foreign Exchange
Price Level
Demand For Money
Prices
Macroeconomics
Monetary Policy
Exchange Rates
Money And Monetary Policy
Iran, Islamic Republic Of
Online Access:
Collection: International Monetary Fund - Collection details see MPG.ReNa
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520 |a This paper looks at the determinants of inflation in Iran. Unlike the traditional estimates of the demand function for real money balances, the approach followed here focuses on the relationship between nominal variables and inflation. The model estimates are used to address the questions raised by the decline in inflation that occurred up to the first half of 2006, looking at the structural stability of the estimated relationships and the ability of the model to predict inflation at the end of the sample. The estimates confirm the strong relationship between money and inflation when M1 is used, with no evidence of a structural change 

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