نوع مقاله : مقاله پژوهشی
نویسندگان
دانشجوی دوره دکتری دانشگاه شیراز
چکیده
یکی از مباحث مهم در سیستم نرخ ارز شناور مدیریت شده میزان مداخله بهینه مقامات پولی در بازار ارز است. به همین دلیل در این مقاله قاعده‌ای بهینه برای مداخله در بازار ارز در اقتصاد ایران ارائه می گردد. اهداف سیاستگذار از مداخله در بازار ارز به حداقل رساندن انحرافات نرخ ارز حقیقی از مسیر تعادلی آن همراه با کمترین حجم مداخله در بازار ارز می‌باشد. پس از محاسبه مقادیر انحرافات نرخ ارز حقیقی از سطح تعادلی، از روش برنامه ریزی پویا جهت استخراج قاعده بهینه برای مداخله در بازار ارز استفاده می‌شود. قاعده به دست آمده از حل مسأله بهینه یابی پویا، در واقع یک دستورالعمل برای تنظیم تغییر در ذخایر خارجی بانک مرکزی، با توجه به کمترین انحرافات نرخ ارز حقیقی و هزینه‌های ناشی از مداخله در بازار است.
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