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The asymmetric effect of the monetary policy on the unemployment rate in Iran
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Soheil Mohammadi majd1   , Mohsen Mehara 2, Sajad Barkhordari dourbash3 , Zarir Negin taji4 , Nader Hashem nezhad aghdam1 |
1- phd student of Faculty of Economics - University of Tehran
2- Professor of Faculty of Economics - University of Tehran , mmehrara@ut.ac.ir
3- Associate Professor of Faculty of Economics - University of Tehran
4- Assistant Professor of faculty of economic- university of shahid beheshti |
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Abstract: (866 Views) |
One of the primary goals of economic policy is to achieve full employment. The economic policy affects employment through monetary and fiscal policies. Considering this effect, this study aims to investigate the asymmetric dynamic effect of liquidity growth on the unemployment rate by nonlinear autoregressive distributed lag (NRDL) approach in Iran in the period between 2005:4 to 2022:4. The results indicate the existence of asymmetry in the short term. Accordingly, a one percent positive change in liquidity growth leads to an increase in the unemployment rate by 0.21 percent, and a one percent negative change in liquidity growth leads to a decrease in the unemployment rate by 0.25. Although the effect of liquidity changes on the unemployment rate is almost low, the asymmetric effects of monetary policy that are applied by liquidity changes are evident |
Article number: 1 |
| Keywords: Monetary policy, Liquidity, Unemployment, Asymmetric effect |
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Full-Text [PDF 1242 kb]
(323 Downloads)
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Article type: Research |
Subject:
Special
Received: 2023/06/14 | Accepted: 2023/06/24 | Published: 2023/10/2
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