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Showing 4 results for Eslamloueyan
The Optimal Environmental Tax in a Generalized Growth Model with Clean Technology Diffusion and Environment Quality: the Case of Iran
Javad Harati, Dr Karim Eslamloueyan, Dr Mohammad Ali Ghetmiri,
Volume 3, Issue 7 (3-2012)
Abstract

    This study aims at determining the optimal environmental tax policy in the context of a dynamic model. For this purpose, clean technology diffusion was added to the AK growth model and the theoretical model has been generalized to the open economy. The main feature of the economy is creating pollution in the process of economic growth and its negative impact on social welfare. The diffusion of clean technology reduces pollution emission and has a positive effect on environmental quality and social welfare.

  The Hamiltonian solution of the model indicates that the steady state growth rate and optimal tax pollution is affected by the consumer preference toward consumption and environmental quality, pollution elasticity with respect to production, clean technology diffusion, foreign growth rate, inverse elasticity of intertemporal substitution , depreciation rate of capital and trade parameters.

  The results show that the optimal tax rate in Iranian economy is about 15 percent. Furthermore, sensitivity analysis shows that the emission elasticity of pollution subject to the production and environmental preference parameters have larger impacts on optimal tax rate than foreign growth rate and trade parameters.

 


The Relationship between Exchange Rate Misalignment and Inflation Persistence in Iran
Karim Eslamloueyan, Zahra Khalilnezhad,
Volume 6, Issue 21 (10-2015)
Abstract

The main goal of this paper is to study the relationship between exchange rate misalignments and inflation persistence in Iran. In order to achieve this goal, we first use a non-linear smooth transition regression model to estimate equilibrium exchange rate in the context of a monetary model for the period 1978:2-2012:1. This allows us to compute exchange rate deviation from its equilibrium level. In the next next state, in order to examine whether the inflation rate is persistence, we use a threshold autoregressive method to examine the non-linear behavior of inflation rate in Iran. In general, the result shows that there is a direct relationship between the exchange rate misalignment and the inflation persistence. This finding is consistent with the hypothesis that exchange rate deviation from its equilibrium level is costly due to its effect on inflation rate. Moreover, the result indicates that an increase in the level of exchange rate is associated with inflation persistence. This finding has important policy implication for monetary authorites in Iran to implement appopriate exchange rate policy in order to fight inflation persistence in this country.


The Existence of a Risk-Taking Channel of Monetary Policy Transmission in Iran’s Banking System
Karim Eslamloueyan, Hamideh Yazdanpanah, Zahra Khalilnezhad,
Volume 9, Issue 31 (3-2018)
Abstract
Risk-taking channel refers to the banks’ risky activities following the expansionary monetary policy. This channel may affect the financial and output stability. The risk-taking channel can influence bank soundness and hence be a source of financial instability and financial crisis. This topic has been the focus of many researches after the financial crisis of 2008. Using the structural vector autoregressive model, this paper investigates the existence of a risk-taking channel in Iran’s banking system for the period 2006:2-2015:1. The results of impulse-response functions confirm the presence of risk-taking channel in the Iran’s banking system. This channel is considered to be one of the sources of high non-performing loans in Iran’s banking system. Therefore, banking supervision and macro prudential policies may reduce the banks’ risky activities. Moreover, introducing risk-taking channel into the central bank’s loss function might be helpful in achieving financial stability and reducing the negative impacts of risk-taking channel on output and economic growth in Iran.

The Effect of the Origin of Oil Price Shocks on Macroeconomic Dynamics in an Oil-Exporting Country: An Open DSGE Model
Ali Kiani, Karim Eslamloueyan, Phd Roohollah Shahnazi, Parviz Rostamzadeh,
Volume 10, Issue 38 (12-2019)
Abstract
In recent years, some research has focused on the importance of the origin of an oil shock for macroeconomic dynamics in both oil-exporting and importing countries. The existing literature lacks a proper open Stochastic Dynamic General Equilibrium (DSGE) framework to investigate the effect of the origins of oil shocks on macro variables in a two-country model consisting of an oil-exporting county and an oil-importing country. To this end, we develop and solve a new Keynesian DSGE model to show how the different oil shocks originating from oil supply or oil demand, might have diverse impacts on key macroeconomic variables in oil-exporting and importing counties. For the case study, we use data from Iran as an example of an oil-exporting country that trades with the rest of the world. Our DSGE model is estimated by using the Bayesian method for the period 1986:1-2017:4. The result shows that an oil shock originated from the shortage of oil supply (an exogenous decrease in Iran's oil production) decreases total production, non-oil trade, employment, inflation and consumption in this oil-exporting country. While a negative oil supply shock increases production costs and reduces production and consumption in Iran. However, an oil shock originated from an increase in the demand for oil raises output, non-oil trade, employment, consumption, and inflation in Iran as an oil-exporting country while a demand-side oil shock boosts production and increases inflation in this country.

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