the impact of cost pressure on money supply endogenity in iran

exogeneity and controllabillty of money is a basic assumption in neo-keynesian and monetarist analysis, as well as most contemprory economic macro-models. equilibrium path cattani & cavallo & khan model (j990)1 is employed, and pree & stienhe,2 model (j989) has been used for calculation of the real exchange rate unstability index. the results, indicate negative effects of real exchange rate deviation from its long-run equilibrium path, and real exchang rate fluctuations on the supply of agricultural products. it is also indicated that the relative price of agricultural exportable products, and sudden changes in the supply of agricultural products, as well as, technical improvements all are dignificaut factors in the expansion of export market for these products