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:: دوره 5، شماره 2 - ( بهار 1388 ) ::
جلد 5 شماره 2 صفحات 129-148 برگشت به فهرست نسخه ها
Monetary Policy in Iran: The Challenge of Reducing Inflation
چکیده:   (2569 مشاهده)

The conduct of monetary policy in an oil economy with a managed floating exchange rate regime can be challenging in an environment of fiscal dominance and incomplete transition to a market economy. The Five-Year Development Plans provide a natural benchmark against which to assess monetary policy performance in Iran. Price stability has proved elusive, with liquidity growth targets constantly exceeded by a large margin. The paper examines the reasons behind these results and, based on the lessons that can be drawn from the literature and the international experience, makes some proposals on how to improve on this record. Although fiscal dominance remains the main obstacle to disinflation, reforms to strengthen the anti-inflationary mandate and the operational independence of the central bank, and more effective monetary instruments are also needed.

JEL Classification: E31,E51

     
نوع مطالعه: پژوهشي | موضوع مقاله: اقتصاد پولی
دریافت: ۱۳۹۳/۲/۱ | پذیرش: ۱۳۹۳/۲/۱ | انتشار: ۱۳۹۳/۲/۱
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Bonato L, Jbili A. Monetary Policy in Iran: The Challenge of Reducing Inflation. 3. 2009; 5 (2) :129-148
URL: http://jme.mbri.ac.ir/article-1-40-fa.html

Monetary Policy in Iran: The Challenge of Reducing Inflation. 1. 1388; 5 (2) :129-148

URL: http://jme.mbri.ac.ir/article-1-40-fa.html



دوره 5، شماره 2 - ( بهار 1388 ) برگشت به فهرست نسخه ها
Journal of Money and Economy Journal of Money And Economy
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