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Constructing a New Monetary Condition Index for Iran

Author

Listed:
  • Hematy, Maryam

    (Monetary and Banking Research Institute, Central Bank of the Islamic Republic of Iran)

  • Boostani, Reza

    (Central Bank of the Islamic Republic of Iran)

Abstract

Reliable measures of the size and direction of changes in monetary policy are very crucial for examining the effects of monetary policy on the economy. Monetary Condition Index (MCI) can be used as a tool to assess the stance of monetary policy. This index is defined as the weighted average of

Suggested Citation

  • Hematy, Maryam & Boostani, Reza, 2014. "Constructing a New Monetary Condition Index for Iran," Journal of Money and Economy, Monetary and Banking Research Institute, Central Bank of the Islamic Republic of Iran, vol. 9(3), pages 119-147, April.
    • Handle: RePEc:mbr:jmonec:v:9:y:2014:i:3:p:119-147
    as

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    References listed on IDEAS

    as
    1. By James Morsink & Tamim Bayoumi, 2001. "A Peek Inside the Black Box: The Monetary Transmission Mechanism in Japan," IMF Staff Papers, Palgrave Macmillan, vol. 48(1), pages 1-2.
    2. repec:mbr:jmonec:v:8:y:2013:i:1:p:1-30 is not listed on IDEAS
    3. Abdul Qayyum, 2002. "Monetary Conditions Index: A Composite Measure of Monetary Policy in Pakistan," The Pakistan Development Review, Pakistan Institute of Development Economics, vol. 41(4), pages 551-566.
    4. Wensheng Peng & Frank Leung, 2005. "A Monetary Conditions Index for Mainland China," Working Papers 0501, Hong Kong Monetary Authority.
    5. repec:icf:icfjae:v:08:y:2009:i:3-4:p:72-83 is not listed on IDEAS
    6. James H. Stock & Mark W.Watson, 2003. "Forecasting Output and Inflation: The Role of Asset Prices," Journal of Economic Literature, American Economic Association, vol. 41(3), pages 788-829, September.
    Full references (including those not matched with items on IDEAS)

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