Pre-revolutionary Iranian Economic Policy Making: An Optimal Control Based Assessment
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An optimal control macroeconomic model of the Iranian economy is developed in order to evaluate the government's economic policies over the 1972-77 period. The main results of the study indicate that, after 1973, Iranian planners should have focused on shorter-run stabilization issues and contributed more actively to the . budgetary decision-making process. This conclusion is true with regard not only to , the longer-run supply effects of the government's programmes, but also to the shorter-run stabilization difficulties posed by the rapidly accelerating level of expenditures.
Economic Modeling, October 1985.Refereed Journal Article