Constructing a New Monetary Condition Index for Iran

Maryam Hematy and Reza Boostani
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Maryam Hematy: Monetary and Banking Research Institute, Central Bank of the Islamic Republic of Iran
Reza Boostani: Central Bank of the Islamic Republic of Iran

Journal of Money and Economy, 2014, vol. 9, issue 3, 119-147

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

Keywords: Monetary Condition Index; Monetary transmission mechanism; Credit channel; VARX; Inflation forecasts. (search for similar items in EconPapers)
Date: 2014
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