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Financial intermediaries and speculation in the foreign exchange market: the role of monetary policy in Iran's economy
Journal of Economic Structures
AbstractGiven the high fluctuations of the general price level, the importance of investment, and accessing sufficient financial resources, we examine the effects of monetary policy on the nominal (Inflation) and real (Investment) sectors of a developing economy, like Iran, through the channel of the relationship between bank deposits, stock market, and speculation in the foreign exchange market (FEM). For this purpose, due to regime switching in Iran's economy, the non-linear relation betweendoi:10.1186/s40008-022-00271-x fatcat:e6ysxbmox5avtltq75bysltf3i