Faculty member of Vali-e-Asr University of Rafsanjan

kolsum.sh681@gmail.com¹ vahid farzam² davoud mahmoudinia³

1) Graduate student of Vali-e-Asr University of Rafsanjan
2) Faculty member of Vali-e-Asr University of Rafsanjan
3) Faculty member of Vali-e-Asr University of Rafsanjan

IOI Code : XBZK-DBBBG
Publication : national Congress on management economics accountanat(emacong.com)
Abstract :
    The remarkable role and importance of money in the economy is a crucial issue for policymakers. Because the change in the amount of money has a significant impact on major macroeconomic indicators, including inflation, unemployment, exchange rates and economic growth. Given that most of the money in the economy is created by commercial banks (internal money), based on the place of birth and death, most of the money in the economy is commercial banks themselves, while the central bank in the monetary system The present has a very small share in the money created in the community (external money). The objective and empirical fact in the country suggests that the increase in the share of creation and allocation of foreign money by the central bank in comparison with commercial banks is more profitable for the country s economy. Has The purpose of this paper is to investigate the internal and external money and its effects on the production gap for Iran in the period of 1353-1393 using the Hodik-Proskat filter (HP), the fully-modified normal least squares method and the least squares ordinary dynamic. The results of the research indicate that the internal money (the money created by commercial banks) has a negative effect on the production gap, while the external money (the money created by the central bank) has a positive effect on the gap. Production. The estimated results also indicate that the results are the only difference between the results due to the effect of the explanatory variables on the dependent variable. Considering the special role and the extraordinary importance of money in the economy, as well as the results of the research, it is recommended that monetary policy makers and economists, through increasing the external money (monetary base) and reducing money Manage liquidity in the internal, and also lead to liquidity, most of which make up the internal money, towards production and productive activities.

Keywords : internal money foreign money money creation production gap