بررسي اضافه جهش قيمت محصوالت كشاورزي ايران بر اثر سياستهاي پولي‌

Monetary Impacts and overshooting of Agricultural prices in iran

The paper focus on the time adjustment path of the agricultural prices in response to unanticipated monetary shocks following model developed by Saghaian et al.(2002). To get the objective we employ Johansenʹs co integration test along with a vector error correction model to investigate whether agricultural prices overshoot over 1350-1382 (1971-2003) for iran. The variables of the study are monetary supply, exchange rate, agricultural and industrial commodities price index. The empirical results indicate that agricultural prices adjust faster than industrial prices to innovations in the money supply, i.e. confirming the hypothesis of overshooting of agricultural prices.