Application of Taylor's Rule in Iran Economy and Policies influence from Real Estate Market
Author(s):
Abstract:
The central bank's behavior towards its four targets is subject that has occupied the minds of many economists. This research tries to find rules governing the monetary policy makers. Then two main goals of stable inflation and growth rate of national products selected. In the other hands, according to significance of real estate market fluctuations controlling, Central Bank has a great task. Then it has an active role and real estate price growth comes in the model similar Taylor Rule model. Resulting with quarters data 1371:1-1391:4 show that growth rate of national products and it's fluctuations are many important and their coefficients are significant but the others are not. Central Bank can predict those fluctuations and react them, but it's reaction for after two periods is pro-cyclic.
Keywords:
Language:
Persian
Published:
Journal of Investment Knowledge, Volume:5 Issue: 18, 2016
Pages:
197 to 210
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