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Information Journal Paper

Title

AN INVESTIGATION INTO IRAN ENDOGENEITY OF MONEY SUPPLY

Pages

 Start Page 233 | End Page 255

Abstract

 Effectiveness and efficiency of monetary policy in economics, first of all is related to assumption of exogeneity or ENDOGENEITY of monetary policy. Domain of these two assumptions affects Effectiveness, efficiency and regulation of monetary policy. There are so many studies and views about dominance of these two assumptions. Empirical test is a solution for understanding the dominance of different views in a given country. There have been some investigations to study ENDOGENEITY of Iran money supply, but here - unlike previous studies – the direct test and Sargan test according to seasonal data between1375-1391 based on two important views of STRUCTURALISM and ACCOMMODATIONISM has been used. The Results show that firstly, money is endogenous. Secondly, concerning the ENDOGENEITY of money, STRUCTURALISMs' approach matches more to Iran economics than ACCOMMODATIONISMs' view. Necessary of change in targeting; from monetary targeting and liquidity growth to targeting compatible to ENDOGENEITY conditions of money is of the other result of the study.

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