Hoda Zobeiri,
Volume 7, Issue 26 (12-2016)
Abstract
Exchange rate is one of the key indicators affecting macroeconomic performance, and inflation is one of the most important indicators which represents the macroeconomic performance. The aim of this paper is to identify the relation between these two important economic variables. By using the model of structural time series and Kalman Filter algorithm the effect of exchange rate gap (the difference between official exchange rate and parallel market exchange rate) on inflation in Iran has been investigated during 1961- 2012. The results of this paper indicate that exchange rate gap has a significant positive impact on inflation in Iran, so that 1 percent increase in exchange rate gap lead to 3 percent increase in inflation in Iran. These results have approved the single currency policy to control inflation in the country.
Hoda Zobeiri, Mani Motameni,
Volume 11, Issue 40 (6-2020)
Abstract
Due to pension fund problems in Iran, the multi-pillar social insurance system has been released in 2017. According to this, the first pillar is regarding to low income groups and finance through the public fund. The second pillar is defined benefit and finance pay as you go. The third pillar is defined contribution and fully funded finance. Contributions are transferred to the individual account. The pension fund directors supposed to investments the accounts and to return the Contribution fund and its returns in retirement time. The main issue is that the old age pensions are not guaranteed in this plan and face with financial risk and inflation. Due to high inflation of Iran’s economy, the main challenge of third pillar plan is the inflation. This paper is main to inflation hedging in defined contribution pension plan by Investing in Tehran Stock-Exchange. By using NARDL model and 133 monthly data up to 2020 the results show that TSE index can hedge the inflation.
