كاربرد تئوري مقدار بهينه پول در ايران

Optimum Quantity of Money - An Application to Iran Economy

The study of the role of money in the economy of developing countries, and its impact on economic variables, analysis of monetary policies, and other related issues are of paramount importance in economic planning. Considering the above- mentioned points and also die realities of Iranian economy, it is quite vital to scientifically specify the long-term trend of money supply through investigation of modem theories. In addition, we try to investigate the welfare effects of money supply in Iran and to calculate the related optimum quantity of money. Determining the optimum quantity of money will help us to see whether die real money is lower or higher than the optimum quantity which guides us to formulate proper monetary policies. In this respect, therefore, we are able to weaken or eradicate the monetary roots of inflation and unemployment. For practical purposes, we use the collected data on Iranian economy (1956-2003) by proper dynamic optimization model solved by Excel! The results indicate that the real quantity of money is lower than its optimum quantity in Iran and that increasing 1he real quantity will have a positive effect on the economy.