Shahid Beheshti University Journal of Economics and Modelling 2476-5775 2 7-8 2012 02 20 The Asymmetric Effects of Monetary Shocks on the Price in Business Cycle of Iran Using Markov-Switching Approach The Asymmetric Effects of Monetary Shocks on the Price in Business Cycle of Iran Using Markov-Switching Approach 183 222 57489 FA Hossein Asgharpur Tabriz University, Faculty Member Firouz Fallahi Tabriz University, Faculty Member Elnaz Talischi M.A. in Economics Journal Article 2012 02 22 One of the most important subjects of macroeconomic is the manner in which monetary socks affect macroeconomic variables, including the price level. In addition, the manner in which monetary shocks affect the price level in various economic conditions is very important in adopting a policy to study these effects, Markov-Switching models are used to test for asymmetric effects of monetary shocks on the price over the period 1988:2- 2008:3. The results show that the effects of  positive monetary shocks on price is higher than the effects of a negative one. That is, the monetary shocks have an asymmetric effect on the price level in recession and boom and hence, the policy makers, special central bank of Iran, must take this into account. One of the most important subjects of macroeconomic is the manner in which monetary socks affect macroeconomic variables, including the price level. In addition, the manner in which monetary shocks affect the price level in various economic conditions is very important in adopting a policy to study these effects, Markov-Switching models are used to test for asymmetric effects of monetary shocks on the price over the period 1988:2- 2008:3. The results show that the effects of  positive monetary shocks on price is higher than the effects of a negative one. That is, the monetary shocks have an asymmetric effect on the price level in recession and boom and hence, the policy makers, special central bank of Iran, must take this into account. https://ecoj.sbu.ac.ir/article_57489_09d02ab26be70f1021d4c26b43032fe5.pdf