Business, Management and Accounting
4 years ago

Monetary shocks in Iran lead to high inflation and unstable exchange rates.

RePEc: Research Papers in Economics
Common Trends and Structural Change; A Dynamic Macro Model for the Pre- and Postrevolution Islamic Republic of Iran
Torbjörn Becker

Paper Summary

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The article looks at how prices, exchange rates, money, and real output changed in Iran before and after the revolution. They found that increasing money supply boosts output in the short term but leads to higher prices and exchange rates in the long term. Real shocks, on the other hand, result in more growth and less inflation, suggesting that supply-side policies are better for Iran's development plan.