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The effect of monetary policy shocks on the price dynamics of industrial commodities selected group in Iran

Arash Ketabforoush Badri (), Akbar Mirzapour Babajan () and Beitollah Akbari Moghadam ()
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Arash Ketabforoush Badri: Ph.D Candidate of monetary economics, Department of Economics, Qazvin Branch, Islamic Azad University, Qazvin, Iran
Akbar Mirzapour Babajan: Assistant Professor, Department of Economics, Qazvin Branch, Islamic Azad University, Qazvin, Iran (Corresponding Author)
Beitollah Akbari Moghadam: Assistant Professor, Department of Economics, Qazvin Branch, Islamic Azad University, Qazvin, Iran

Quarterly Journal of Applied Theories of Economics, 2020, vol. 7, issue 2, 129-154

Abstract: It is important to examine the dynamics of prices for industrial commodities in different periods of time, because fluctuations in commodity prices can be posed as a serious problem in policy making. The fluctuation in the price of industrial goods can also affect the production of various sectors of the economy. Therefore, the relationship between the factors affecting the price of industrial goods is very important. Monetary policy shocks are among the factors that can affect the price of industrial commodities. Therefore, identifying as accurately as possible the factors affecting price changes, as well as the exact trend of monetary policies and examining the impact shocks, can help policymakers in many sectors. The aim of this study is to investigate the effect of monetary policy shocks on the price dynamics of industrial commodities group in Iran using SVAR method during the time period of 2008-1 to 2017-4. The statistical population of the study is the macroeconomic sector of Iran and the commodities selected in this study include aluminum, copper, gold, rebar, beams and zinc. The results showed that in the long run, the greatest impact on the commodities by credits. Finally, it can be said that increasing the amount of credits paid to the industrial sector in order to provide the necessary capital to expand the production centers of industry and achieve a stable situation in the price of industrial goods are among the policies that can be effective to improve the situation

Keywords: Monetary policy shocks; commodity prices; industry sector; Iran; SVAR method. (search for similar items in EconPapers)
JEL-codes: C22 E31 E52 O14 (search for similar items in EconPapers)
Date: 2020
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