خلاصه ماشینی:
"2-1- The Foreign Exchange Rate Developments in Iran A study by World Bank on the eight developing countries, including Argentina, Ghana, Mexico, Sudan, Tanzania, Turkey, Venezuela, and Zambia has revealed that in case of Argentina, Mexico, and Venezuela, the emergence of the parallel foreign exchange market 1 has for a temporary period been in response to the severe balance of payments crisis by a drop in oil price, massive capital flight, and debt crisis by delaying macroeconomic adjustments and avoiding the domestic inflation.
Concerning the linkage between devaluation domestic currency and inflation in less developed countries, Ahmad and Ali (1999) explain that there is consistent evidence in Pakistan, indicating domestic price level over time responds gradually to the exchange rate depreciation.
In order to examine the impact of unified exchange rate on the domestic price level in Iran empirically, based on the theoretical model, the Johansen’s multivariate co-integration method for estimation the following model in terms of logarithm has been applied.
4-3- Data Collection and Description The Iranian time series data for the macro variables, mainly GDP, foreign exchange rate (official and free market exchange rates), money supply (M2), domestic price level, and oil price OPEC basket per barrel in the interval 1971-2002 (period before the exchange rate unification) has been extracted from the 2007 annual statistical bulletin (OPEC) and the Central Bank of Iran.
6- Conclusions and policy implications As earlier indicated, the basic aim of this research was to find out the impact of exchange rate unification on the domestic price level in Iran by using co-integration approach."