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Comparing the Impact of Monetary Base Components on Inflation in Iran (Quantile Regression Approach)
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Mahnaz Sorkhvandi1   , Kiomars Sohaili2 |
1- Postdoctoral Researcher of Razi University
2- Scientific Board of Razi University , ksohaili@razi.ac.ir |
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Abstract: (660 Views) |
One of the economic problems that has affected many countries, including Iran, is inflation. Inflation causes many social and economic problems, and most economists and politicians are looking for a solution to curb inflation. One of the variables that affect inflation in Iran is liquidity and the monetary base, and in this research, the effects of the components of the monetary base on inflation in Iran have been evaluated. In this research, the statistical data of the years 1975-2020 were used and the model used is quantile regression.
The results of the research show that for the first model, in conditions of medium and high inflation, with the increase of the monetary base, inflation increases, but in low inflation, the monetary base has no effect on inflation. GDP growth rate also has no effect on inflation.
And in high and low inflation, with the increase in the exchange rate, inflation increases. that with the increase or decrease of the expected inflation, the inflation of the current period will also increase or decrease.
According to the estimation results for the second model, it can be said that with the increase in the growth rate of banks' debt to the central bank, the growth rate of the exchange rate and expected inflation in high and low inflation, inflation increases and other variables have no effect on inflation. |
Article number: 1 |
| Keywords: Monetary base, Inflation, Quantile Regression, Bank Debt, Exchange Rate |
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Full-Text [PDF 959 kb]
(206 Downloads)
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Article type: Research |
Subject:
Special
Received: 2024/06/16 | Accepted: 2024/09/9 | Published: 2024/12/30
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