List of Articles Rational expectations

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  1 - Examination of Inflation Expectation formation: Experimental Approach(Case Study: Kermanshah Capital Market Activists)
  Shahram Fattahi Kiumars Soheili Mohammad Bahmani
  Inflation expectations as one of the factors influencing inflation formation plays a decisive role in economic policy. Decision making and decision making in relation to issues such as consumption, savings, production, investment, the choice of asset portfolios, wages, More

  Inflation expectations as one of the factors influencing inflation formation plays a decisive role in economic policy. Decision making and decision making in relation to issues such as consumption, savings, production, investment, the choice of asset portfolios, wages, exchange rates and interest rates are all shaped by inflationary expectations.In this study, the problem of formation of inflationary expectations among capital market participants in laboratory space using Z-tree software has been studied. To this end, Taylor's expanded rule first examined the central bank's behavior toward inflationary depreciation and estimated the Bank's central counterpart effect. The average inflation expectations of the participants in this experiment was 14.12%. Based on the results of this study, at a significant level, 95% of 34.7% of participants in this experiment formed their expectations based on the rational expectation pattern, 22.1% of individuals based on the matching pattern of expectations and 43.2% based on learning models. Therefore, monetary authorities, with the knowledge of how the formation of inflationary expectations among capital market participants can be appropriate policies, in line with the direction of existing liquidity towards the capital market, which controls inflation and prevents the movement of liquidity in the community towards the foreign exchange market and gold To adopt. Manuscript profile
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  2 - Seignorage and Welfare Cost of Inflation in Iran
  علیرضا مرادی
  After the monetarists' views of the importance of the role of money in inflation formation, stylized facts have emphasized on the fact that inflation has highest correlation with money supply variations. This statement is emphasized by many schools of macroeconomics. He More

  After the monetarists' views of the importance of the role of money in inflation formation, stylized facts have emphasized on the fact that inflation has highest correlation with money supply variations. This statement is emphasized by many schools of macroeconomics. Hence in adopting any monetary policies, reducing the welfare costs of inflation, should be targeted. But governments can make revenue from the monopolistic power of printing money, which is called Seignorage. In this paper, we have tried to estimate both Seignorage and welfare cost of inflation simultaneously. To do so, we have used Sidrauski-type model that in this model preference are separable functions of non-durable goods consumption and monetary holdings. From the practical aspects, this model is converted to nonlinear system of simultaneous equations; that should be estimated by using Generalized Method of Moments (GMM). Our empirical results indicated that, Seignorage does not exceed 2.74 percent of GDP and welfare costs of inflation increases with inflation. Maximum Seignorage is related to the year of 1372 and is equal to 2.675 percent of GDP and maximum welfare costs is about 3.041 percent of GDP and is related to the year of 1372. Manuscript profile
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  3 - بررسی پدیده خنثایی پول در اقتصاد ایران
  مهدی حنطه منوچهر عسکری محمود ختایی
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