A segmented markets model of monetary policy is constructed, in which a novel feature is goods market segmentation, and its relationship to conventional asset market segmentation. The implications of the model for the response of prices, interest rates, consumption, labor supply, and output to monetary policy are determined. As well, optimal monetary policy is studied, as are the costs of infla...

A segmented markets model of monetary policy is constructed, in which a novel feature is goods market segmentation, and its relationship to conventional asset market segmentation. The implications of the model for the response of prices, interest rates, consumption, labor supply, and output to monetary policy are determined. As well, optimal monetary policy is studied, as are the costs of infla...

 Governments attempt to achieve the goals of low inflation rate and sustainable economic growth rate. The objective of this study is to analyze the roles of determinants such as the liquidity of money, weighted average of interest (profit) rate on banking deposits, exchange rate and the public debt on inflation and economic growth in Iran, using the quarterly data during the period of 1989-2008...

This paper studies the usefulness of the P-model in the analysis of the behaviour of prices in Iranian economy. The P-model is based on the Quantity of Theory of Money. This model believes that the price level tends to move towards the equilibrium price level. The model uses price gap to forecast inflation, if the equilibrium price is greater than the current price, there is a tendency for the ...

the interaction between nominal and real sectors is studied based on estimating a simultaneous co-integrated system including foreign and domestic prices, real output, liquidity and exchange rate variables. two co -integrating vectors namely augmented ppp and demand for money functions are identified. the results suggest that real output is a weakly exogeneous variable and relatively the leadin...