نوع مقاله : علمی-پژوهشی
نویسندگان
1 دانشجوی دکترای اقتصاد دانشگاه یزد، یزد، ایران
2 استاد دانشکده اقتصاد، مدیریت و حسابداری، دانشگاه یزد
3 استادیار گروه اقتصاد دانشگاه میبد، میبد، ایران
4 دانشیار دانشکده اقتصاد، مدیریت و حسابداری دانشگاه یزد
چکیده
کلیدواژه‌ها
موضوعات
عنوان مقاله [English]
نویسندگان [English]
Monetary policies affect macroeconomic variables and financial indexes through changes in importance parameters of macroeconomic. Therefore, it is necessary to test the effects of changes in these parameters in a simulation environment. In present paper, the effect of monetary policies on Iran’s financial market has been simulated with a system dynamics model and using data from 2011 to 2021 (and simulated until 2031). The results showed that some monetary policy variables, such as the increase in interest rate, have an effect on the distribution of financial assets between the bank, the stock market, and non-productive assets, and reduce the capital market size, and others, such as increasing in bank credit, foreign asset in central bank and government debts will increase all financial markets. The increase in the bank interest rate, despite the increase in deposits in the bank, will reduce investment in the stock market and increase the trend towards non-productive assets such as dollars and gold. Also, government financing through borrowing from the central bank increases propensity to non-productive assets and increases the inflationary cycle.
کلیدواژه‌ها [English]
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