Showing 4 results for Heydari
Hassan Heydari,
Volume 2, Issue 6 (12-2011)
Abstract
In this paper, a small scale Factor-Augmented Vector Autoregressive (FAVAR) Model is utilized to analyze the effects of monetary shocks on price level and economic activities in the Iranian housing sector. To analyze the "price level", four price indices of the housing sector were used and also six indices to estimate the "economic activities" in this sector were determined. The results show that shocks from liquidity and high powered money will have wave-like effects on the housing sector in Iran. The waves have an approximate duration of 5 years which is confirmed by observations of the housing sector in Iran. Also the results show that the effects of the liquidity shocks have more durable effects on the sector in comparison with the high powered money shocks.
Siab Mami Pur, Maryam Rabiei, Kiomars Heydari,
Volume 7, Issue 23 (3-2016)
Abstract
The electricity industry that has been administrated with integrated vertical structure worldwide is now undergoing dramatic changes. Electricity industry is converting to a competitive industry in which market powers determine the price of electricity, there for it is important to identify market power. The Electricity Market of Iran and Iran Grid Management Company were established in 2003 and 2004, respectively. One of the most important objectives of the restructuring of Iran’s Electricity Market is to establish a competitive environment. The purpose of this study was to assess the level of competition among regional power companies in the electricity market in 2013. The method employed separates the strategic companies from marginal companies by market share index in the hours of peak consumption in summer, and then simulates the performance of the strategic companies using Cournot’s model. Each Cournot (strategic) company aims to maximize its profits, assuming its competitors keep a constant production. This goes on to reach equilibrium, as long as companies do not take advantage of changes in their production. The results of the simulation shows that firms with higher market share at the summer peak hours have been acting strategically in 2013. Another part of the study investigated the circumstances of the power plants of these companies. Lerner’s index was estimated and showed that all the power plants of Tehran’s Regional Electricity Company had an index of higher than 50 percent which is an indicator of their high market power.
Hassan Heydari,
Volume 9, Issue 34 (12-2018)
Abstract
There is a growing attention to models which contain a broader set of economic data. In recent decade, introduction of Factor Augmented VAR models through augmentation of traditional VAR models with unobservable “factors” has made a new route to econometric modeling. In spite of the growing number of international papers and researches which have used FAVAR approach to modeling policy shocks to various economies, there is little about Iranian economy. So the paper is an attempt to fill the gap in the literature using an FAVAR model to analyze transmission of oil and monetary shocks to Iranian economy. The model contains 35 major macroeconomic annual variables spanning from 1974 to 2014. The results show that “real sector” of Iranian economy responds positively to oil shocks up to 5 years. Also “nominal sector” of the economy responds positively to oil shocks but the responses are shorter, smaller and more volatile than “real sector” responses. Finally the model results show responses of “nominal sector” of Iranian economy to monetary shocks are positive which its duration varies between 2 and 4 years.
Hassan Heydari, Mahsa Rashidi,
Volume 10, Issue 35 (3-2019)
Abstract
Exchange rate changes could impact on prices. Whether exchange rate pass through to prices is complete or incomplete is an interesting question in analyzing impacts of exchange rate policy. An important aspect of exchange rate pass through is in producer price index and in its sub-indices. Our aim is to analyze the effects of exchange rate changes on producer sub-indices. To do that we have used of the structural vector autoregressive (SVAR) methodology. Our data contains 1991 Q2-2017 Q1. The results show that there is a significant heterogeneity in exchange rate pass-through to producer prices. Our results showed that there is complete exchange rate pass through in industrial prices but agricultural and service prices show incomplete pass through. According to previous studies, the difference could be related to different market structure in industrial activities compared to agriculture and service activities.
