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Author = Zonnoor, Hossein

Number of Articles: 1
An Optimal Rule for Monetary Policy with Inflation Persistence: The Case of Iran

Morteza Khorsandi; Karim Eslamloueyan; Hossein Zonnoor

Volume 17, Issue 51 , July 2012, , Pages 43-70

Abstract
  The main goal of this paper is to derive an optimal rule for monetary policy in Iran. To do so, we estimate the monetary transmission equations and derive the optimal rule by using the dynamic programming method. Our dynamic optimization problem is to minimize the central bank's loss function subject ...  Read More