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The Credit Channel of Monetary Policy Transmission in the Iranian Economy (in Persian)

Author

Listed:
  • Rezaei, Ebrahim

    (Iran)

  • Jalili, Zahra

    (Iran)

Abstract

In recent years¡ some phenomena which had been taken place in the world show that financial markets¡ specially banking sector performance¡ had a vital role on these economies and their business cycles. With regard to that point¡ using some banking sector variables and indices¡ this paper investigates the existence of the credit channel transmission of monetary policy during 2001-2009. To estimate this purpose¡ we applied GMM method and other specification tests. Our results show that in Iran’s Banking system¡ there is some evidence of the existence of a credit channel¡ but there is no strong evidence about the presence of transmission of monetary policy through interest rate. JEL Classification: C33, E44, E52, G21

Suggested Citation

  • Rezaei, Ebrahim & Jalili, Zahra, 2011. "The Credit Channel of Monetary Policy Transmission in the Iranian Economy (in Persian)," Journal of Monetary and Banking Research (فصلنامه پژوهش‌های پولی-بانکی), Monetary and Banking Research Institute, Central Bank of the Islamic Republic of Iran, vol. 3(7), pages 169-202, June.
    • Handle: RePEc:mbr:jmbres:v:3:y:2011:i:7:p:169-202
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    More about this item

    Keywords

    Monetary Policy; Credit Channel; Business Cycles; GMM Method;
    All these keywords.

    JEL classification:

    • C33 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Models with Panel Data; Spatio-temporal Models
    • E44 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Financial Markets and the Macroeconomy
    • E52 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Monetary Policy
    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages

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