عنوان مقاله [English]
The exchange rate is one of the most important key economic variables that can affect the Impressive of production, inflation, employment and other macroeconomic variables through affecting the state of foreign trade and balance of payments. Accordingly, the present paper deals with the exchange rate modeling in Iran using the Markov Switching Nonlinear Model. The data used in this article are the exchange rate data for the year 1396-1986. One of the important reasons for using the Markov-Switching model is that the exchange rate is a nonlinear time series that has various shocks and fluctuations over the years studied. In general, the results of Markov-switching model show that exchange rate has non-linear and asymmetric behavior in Iran and exchange rate in three different regimes exhibits different behavior and exchange rate behavior in three regimes depends on its period and this can be very important for currency policy making.