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Iranian Economic Review، جلد ۲۱، شماره ۱، صفحات ۱۰۱-۱۲۰
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عنوان انگلیسی Asymmetric Behavior of Inflation in Iran: New Evidence on Inflation Persistence Using a Smooth Transition Model
چکیده انگلیسی مقاله T his paper investigates the asymmetric behavior of inflation. We use logistic smooth transition autoregressive (LSTAR) model to characterize the regime-switching behavior of Iran’s monthly inflation during the period May 1990 to December 2013. We find that there is a triple relationship between the inflation level, its fluctuations and persistence. The findings imply that the behavior of inflationary process is asymmetric. There are two inflationary regimes in Iran’s economy, one is stable with little fluctuations, and the other is unstable that lead to higher inflation, more fluctuations and higher persistence. The results also show that the persistence of inflation is significantly and positively related to inflation level. Therefore, the inflation tends to converge towards the long-run value slowly in the high-inflation regime compare to the low-inflation regime. For this reason, inflation rates tend to be self-generating and self-perpetuating inflationary process in the higher-inflation regime (for example after 2011), while in the lower-inflation regime (for example during 2000 to 2005) is not.
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نویسندگان مقاله محمد علی فلاحی | mohammad ali
department of economics, ferdowsi university of mashhad, mashhad, iran
سازمان اصلی تایید شده: دانشگاه فردوسی (Ferdowsi university)

مهدی حاج امینی |
department of economics, yazd university, yazd, iran
سازمان اصلی تایید شده: دانشگاه یزد (Yazd university)

نشانی اینترنتی http://ier.ut.ac.ir/article_60865_42b89e9332a1d9d5c92166a3866bf1f7.pdf
فایل مقاله اشکال در دسترسی به فایل - ./files/site1/rds_journals/434/article-434-385739.pdf
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زبان مقاله منتشر شده en
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