Showing 30 results for Type of Study: توسعه ای
Mahdi Ghaemiasl, Dr Mostafa Salimifar,
Volume 4, Issue 13 (10-2013)
Abstract
Unobservable productivity shocks cause selection and simultaneity problems in firm’s decisions and these problems cause estimators such as ordinary least squares, have biased estimation for coefficients of production function inputs. In this study, data of five automaker companies in the period of 1383-1387 have been used and production function of car industry have been estimated by ordinary least squares, fixed effects, random effects, Olly and Pakes (1996) and Levinsohn and Petrin (2003a) approaches. The results show that fixed effects and Levinsohn and Petrin (2003a) approaches can’t be appropriate for the production function estimation of car industry. In other words, reaction of automaker companies to productivity shocks will not be done through adjustment in labor, capital and energy demands and there is no significant correlation between inputs adjustment and productivity shocks in car industry. But estimated coefficients of energy and capital in semiparametric, random effects and ordinary least squares approaches show that estimated coefficients of energy and capital in random effects and ordinary least squares approaches are upwardly and downwardly biased, respectively. These results are perfectly consistent with the viewpoint of Olly and Pakes (1996) about bias of traditional estimators and show that automaker companies, in response to the productivity shock, adjust their investment level. In addition based on estimation of semiparametric approach, output elasticity of capital and energy will be respectively 0.82 and 0.64.
Hojjat Izadkhasti, Said Samadi, Rahim Dallali,
Volume 5, Issue 15 (3-2014)
Abstract
Money is a facilitator of economic activities, thus, formatting of economic activity is dependent on the institutionalizing of monetary system. In common monetary system, the weakness of common perception about money, publishing and distributing mechanism led to inefficiencies in optimal allocation of resources and welfare cost of inflation tax. Partial equilibrium model in compare with general equilibrium model, underestimate welfare cost of inflation tax. Therefore, in dynamic optimization model, the equation of welfare cost of inflation tax, in addition to general equilibrium model of Lucas, derived from theoretical correction of demands for real money balances. Then welfare cost compared theoretically and experimentally in partial and general equilibrium model. Theoretical and experimental results indicate that the welfare costs of inflation tax in general equilibrium models, is an upper bound of partial equilibrium models. Also, given that the elasticity of demand for money in regard to the nominal interest rate, the welfare cost of inflation tax increases with nominal interest rate and inflation.
Mosayeb Pahlavani, Hossien Mehrabi Boshrabadi, Mahla Afshar Pour,
Volume 5, Issue 16 (7-2014)
Abstract
Transportation has been one of the human primary needs and it has been found a wider range with the economic and social development, today it’s considered as a symbol of civilization. It is one of the infrastructure sections in every society that, it not only influences on the development process but also will be changed during development. So, this study investigated the effect of transportation infrastructure on economic growth in some of Iran's provinces by using of panel data model and data from 2000 to 2011. The results indicate that transportation infrastructure as a variable had a positive effect on economic growth. Moreover, provinces that had more populations could help the promotion of the economic growth by changing the underlying structures such as the transportation capacity and the quality of the transportation systems.
Aziz Ahmadzadeh, Kazem Yavari, Mohammad Isaee Tafreshi, Ali Salehabadi,
Volume 5, Issue 17 (10-2014)
Abstract
"Market efficiency" is the basic axiom of Financial Economics and fondamental base for ability of optimal allocation (of financial resources) in a capital market. Vast and extensive studies around Market efficiency in recent decades, has induced strong evolutions in economist’s perception from a Market efficiency, methods of assessing and their implications in real world. This essay attempts to procure a concise leterature review of these evolutions. Results show that applied methods in Iran are incomplete in regard with new addvancements in foreign studies. So, weak form efficiency of Tehran Stock Exchange is reevaluated using new method of H statistic of Hinich. Results of empirical study shows that weak form efficiency is rejected for all the sample as a whole. But, market efficiency would be in evolvotion in studied periods based on used H statistic in this article. Also, market efficiency experienced an stationary improvement from 2005.
Hadi Rafiei Darani, Mohammad Ghorbani,
Volume 5, Issue 18 (12-2014)
Abstract
The main objective of this study is to identify factors affecting labor force participation rate of economic and spatial relationships of provinces in Iran. For this purpose, Moran statisticsas univariate and spatial regression (spatial lag model) were used based ondata from the 2011. The results of Moran statisticsas univariate and spatial regression showed that Iran states are cluster status about labor economic participation. Also, the results of spatial lag regression showed that variables such as spatial lag of participation rate, industry's share of total employment, Gini coefficient, dependency ratio and the share of private sector employmentin the states have positive and significant effect on economic participation rate. With respect results, we proposed increasing financial in centives in the labor market, delegating tasksto the private sector and industrial development to create value-added.
Masoud Sadeghi,
Volume 6, Issue 19 (3-2015)
Abstract
In many Developing Countries liberalization of international trade has been accompanied by demand for skilled labour and inequalityof wages.Thisphenomenon seems to be inconsistant with the Stopler- Samuelson Theorem.Studies in this respect show that imported high –tech capital andintermediate goods are skill-based, thus increasing the relative demand for skilled labour.
In such circumstances, identifying the impact of such goods upon the demand for skilled labour in Iran is of great importance.
In this paper, by using Translog cost function and the Method of Seemingly Unrelated Regression, short and long run demand function for the period of 1977- 2014 in Iran has been estimated. Althoug the short and long –run results arecompatible with the theortical expections, the investment on domestic research and development regarding the employment of skilled labour has been effective only in the long-run and not the short –run.
Davoud Mahmoudinia, Jacob Engwerda, Rahim Dallali Esfahani, Rasul Bakhshi Dastjerdi, Majid Fakhar,
Volume 7, Issue 24 (6-2016)
Abstract
In this paper we analyzed the strategic interaction between government and central bank in Iranian economy. Using dynamic differential games and Nash equilibrium within cooperative and non-cooperative setting, we try to find the optimal values of debt, deficit and monetary base. The results of simulation show that in cooperative case the level of equilibrium debt is lower than the non-cooperative case and converge speed is higher in cooperative setting than non-cooperation setting. Also in cooperative case than non-cooperative case, less creation of money and less government deficit are needed for debt stabilization in long run. The results also show that in both cooperative and non-cooperative cases under uncertainty, more active policies are used to track debt to its equilibrium level. These active policies lead debt goes to smaller level.
, , , , Said Moha ,
Volume 7, Issue 24 (6-2016)
Abstract
The subject of this article is determining the oil optimal production path in one of the Iranian oil and gas brown field in Persian gulf, while the development of the field performed under the buyback contractual framework. In this research we have optimized a dynamic equation using numerically Bellman equation in Matlab program .We have considered different and possible oil price projections and discount rate scenarios. We have compared the differences between optimal production path and actual (and contractual) profiles. The results show that optimal production path is different from operator actual profile in both high and low discount rate (respectively 20% and 1%). Although contractual production profile and optimal production path for alternative discount rate is harmonization, However, Production profile bids by contractor matching with the calculated optimum production model in option of a high discount rate, in the early period, is Verified the expected behavior of international oil companies. But its incompatibility with actual performance the field indicates a incompatibility between the production plan bids by the contractor with the field real possibilities.
Khadijeh Hassanlou,
Volume 8, Issue 27 (3-2017)
Abstract
Efficient portfolio management, has been attractive for financial researchers and was wished for investors from past to now. In this research, a multiperiod portfolio optimization problem for asset liability management of an investor who intends to control the probability of bankrupt is investigated. The proposed portfolio is consisting of number of risky assets, risk free asset and a type of debt. A mean variance model, with constraint of bankrupt controlling in different time horizons is proposed. Lagrangian Multiplier Method with dynamic programming is used for solving proposed model and regarding to its complexity degree, Genetic algorithm was the best selection for reaching numerical results. The proposed model is ran with real data consisting of 10 accepted company in Tehran stock exchange, bonds and bank loan as an investor debt.
Morteza Asadi, Saeedeh Hamidi Alamdari, Hamid Khaloozadeh,
Volume 8, Issue 30 (12-2017)
Abstract
Forecasting tax revenues is vitally important issue for optimal allocation of taxable resources, planning and budgeting in national and regional levels and knowing the potential national participation in public expenditures. The classical optimization based on mathematical methods may not be reliable in real world and mostly inefficient and inapplicable in complicated world due to their restricted assumptions. The smart optimization may help us to find the solution. This essay based on modified PSO methodology .The initial trial based on the data during 1971- 2007 in case of various direct and indirect taxes , and using updated data during 2008- 2012 for final forecasting , to estimate tax revenues for upcoming next three years (2013 up to 2016) by MATLAB software.
Samira Motaghi,
Volume 8, Issue 30 (12-2017)
Abstract
The present paper reviews the impact of the development situation of 3 groups of selected developing countries on environment over the period of 1990 – 2014 using by Environment Kuznets Curve (EKC) hypothesis. For this, it uses economic, social, human and political development factors with the variables that are as follows: GDP, GDP2 and energy consumption as economic development indicators, Urbanization as social and life expectancy at birth and fertility rates as human development indicators and good governance used as political indicator. The results show an inverted U-shaped relationship real GDP per capita and CO2 emission in oil-exporting and whole sample and a U-shaped in non-oil – exporting countries. In addition, the estimated results show a meaningful relationship between the CO2 emission and real GDP, energy use fertility rate, expectancy at birth and urbanization (development situation) in all three groups of the country.
Mahdi Ghaemi Asl, Elahe Ghasemi Nik,
Volume 10, Issue 35 (3-2019)
Abstract
In this research, the factors affecting assets quality in banking system of Iran and some implications for creating appropriate buffers of liquidity and non-performing loans in bank assets management has been investigated. In order to that, statistical data related to macroeconomic variables and financial statements of 30 banks from 2006 to 2016 have been used in the framework of a dynamic panel specification. The results indicate that there is a significant relationship between inflation rate, domestic gross production growth rate, bank share of total revenues, market Structure and bank liquidity with asset quality, but the growth rate of facilities and special and general reserves for non-performing loans have no significant effect on asset quality. Thus, the framework and the amount of special and general reserves for non-performing loans (unlike the liquidity buffer) failed to provide the necessary buffer to improve the quality of bank assets; so, one of the most important reasons for the persistent aggravation and lack of management of the volume of non-performing loans in banking system is dysfunctional and non-observance of the law in the maintenance of special and general reserves. The main requirement for correcting these conditions is to closely monitor the volume of reserves before refinancing and double overdraft from the central bank and other banks and credit institutions.
Akbar Hassanpoor, Mohsen Khezri,
Volume 10, Issue 38 (12-2019)
Abstract
Utilities and services can be divided into two types of public and private goods in terms of the nature of pricing. Urban bus services are pure private goods that have positive externality. The Mohering effect is one of the most important externality of bus services, which in fact justifies the philosophy and nature of subsidies by the municipality and the government. In this study, monetary calculation models of Mohering effect was explained and an optimal pricing model is provided for urban bus services. The results show that the optimal pricing model differs sharply from the Tehran Municipality bus ticket pricing policy.The empirical estimation of the model also shows the large difference between the current prices and the subsidy payment with the optimal values extracted from the proposed model.
Javad Barati,
Volume 10, Issue 38 (12-2019)
Abstract
The impacts of the tourism industry on economic growth can be divided into two categories: direct and indirect (spillover) effects. In the field of tourism, direct impacts have been the subject of many studies but the analysis of spillover effects, particularly the effects from tourism infrastructure development, have received less attention. This study, with an analytical approach and along with examining the quantitative methods and analysis of the spillover effects of various variables affecting the development of the tourism industry, has investigated these impacts for each the variables and in each province. For this purpose, it has used spatial econometric models. The results confirmed the existence of spatial fixed effects and was applied Spatial Durbin Model (based on Lagrange coefficient test). The results show a positive and significant impact of transport infrastructure variables (road, rail, air) and travel agencies on the growth of value added in the tourism industry. Investigation of the spillover effects of infrastructure variables on growth of value added has shown that, except for Accommodation services, other tourism infrastructure variables have negative spillover effects for neighboring provinces, and also have positive spillover effects for other (non-neighbor) provinces. The negative spillover effects on the tourism growth of the neighbor provinces are due to competition impact and relative stability in the number of domestic tourists, and the positive spillover effects on non-neighbor provinces are due to factors such as the development of multi-purpose trips and increased market access.
Jafar Zhilaei Aghdam, Ali Reza Daghighiasli, Marjan Daman Kashide, Ali Asmailpor Magari,
Volume 11, Issue 40 (6-2020)
Abstract
The relationship between external debt and economic growth is one of the important issues in macroeconomics literature and has been considered in empirical studies. So, in this paper the long-run relationship among external government debt and economic growth in 58 selected developing countries for 1985-2018 by applying a pool mean group method which is suggested by Pesaran & Smith. The main empirical results showed that there is a long-run relationship between external debt and economic growth. Also, increase in growth in selected countries in addition to the influence of produce factors, labor, capital stock and monetary policy, influence of public debt. Also, capital stock, open economic, financial balance and saving variables has positive effect and population growth and Government revenue has negative effect on economic growth.
Roozbeh Balounejad Nouri, Amirali Farhang,
Volume 12, Issue 45 (11-2021)
Abstract
This paper aims at investigating the asymmetric impact of long-term and short-term macroeconomic variables on the capital market prices of Iran.Macroeconomic variables are inflation, exchange rate, non-oil trade balance and crude oil prices. In order to investigate these relationships, the quantile autoregressive distributed lag (QARDL) method introduced by Cho et al. (2015) has been used. For this purpose, monthly data related to Iran's economy in the period 2008: M9-2021: M6, have been used. Findings show that in the short run, the macro variables used except the trade balance and oil prices have an asymmetric effect on the capital market price index. In the long run, all variables except oil price have an asymmetric effect on the stock price index and the effect of oil price is symmetrical and significant. This conclusion shows that in situations where the stock market price index is in a state of prosperity, recession or normal, except for oil prices, the effect of research variables on this index is not the same and even this effect is different in the short and long term.
Edris Karimi, Zahra Faturechi,
Volume 13, Issue 48 (9-2022)
Abstract
Today, benefits from energy sources, especially non-renewable sources, can have various effects on economic indicators, and for this reason, it has risks for the economy and society. One of these important economic indicators is income inequality, which over time leads to many problems for societies. In this research, the effect of dependence on non-renewable natural resources on the income inequality of developed countries has been investigated. This dependence has been re-examined by separating non-renewable resources into fossil and non-fossil resources. The data of the study was collected from 25 developed countries during the years 1990 to 2019, and after making sure that no false regressions occurred during the estimation, an econometric study was conducted between the variables. According to the short-term and long-term estimation results obtained from the consolidated group average approach, it was determined that although in the short-term dependence on natural resources has no effect on income distribution, in the long-term two variables dependence on total non-renewable natural resources and dependence on fossil non-renewable natural resources have a negative effect and Significant as well as the variable of dependence on non-renewable non-fossil natural resources had a negative and insignificant effect on inequality. It was also determined that the control variables used such as: education, globalization and institutional quality can reduce income inequality in developed countries.
Mr Hamed Pourakbar, Dr Eskandari Sabzi, Dr Amir Ali Farhang, Dr Rostam Garehdaghi,
Volume 13, Issue 50 (3-2023)
Abstract
Recently, time-varying uncertainty has attracted a lot of attention from policymakers and academics and has led to the growth of literature identifying the transmission mechanisms of uncertainty shocks. Precautionary pricing incentive is an important mechanism that amplifies uncertainty shocks. The conclusion from the comparison of allocations under optimal monetary policies is modeled in two common pricing approaches, Calvo and Rotemberg. The main goal of this research is to investigate the optimal monetary policy with uncertainty in Iran's economy under different pricing conditions by modeling two common pricing approaches, Calvo and Rotemberg, which is based on a dynamic stochastic general equilibrium model based on the new Keynesian perspective using The available information and statistics of Iran's economy from 2001 to 2021, have been designed according to the realities of Iran's economy. The results showed that the uncertainty shocks under Calvo and Rotemberg's pricing assumptions when the monetary policy is adjusted based on Taylor's empirical law are spread differently in the Iranian economy. In such a way that they behave like cost pressure shocks under Calvo pricing and negative demand shocks under Rotemberg pricing. However, the optimal monetary policy leads to the stabilization of both inflation and output gap under both pricing assumptions. In other words, adopting optimal monetary policies can lead to economic stability. Because optimal monetary policy removes not only the discretionary savings incentive of households but also the discretionary pricing incentive of firms, the key channel differentiates Calvo's pricing prediction from Rothenberg's pricing prediction under empirical Taylor. According to the results of the present research, it is suggested to use the monetary rule for policy-making to create a nominal anchor for economic actors and not to use discretionary policies in order not to create inflationary expectations in the economy.
Mr Abdolah Afshari, Mr Teimour Mohammadi, Mr Farhad Ghaffari,
Volume 13, Issue 50 (3-2023)
Abstract
This research investigated the effects of oil revenue decreases as a non-linear model based on Threshold Vector auto-regression(TVAR), with an emphasis on Iran’s sanctions during the period of 2003–2021 with seasonal data. Real oil revenue growth was selected as a threshold variable; during the two regimes, the threshold was selected as -0. 021 for oil revenues, and by the generalized impulse response functions(GIRF), the effects of oil revenue increases on economic growth were investigated. Results revealed that shocks of oil revenue in upward and downward regimes had different effects on economic growth rates. The effects of shocks of oil revenue on economic growth in a downward regime were positive until the second period, and after that, they decreased, and after the sixth period, the economic growth was negative. And in the upward regime, it was positive, and after the first period, it decreased at a lower rate than in the downward regime and finally tended to zero. Finally, it can be concluded that the effects of oil revenue decreases on economic growth rate were more in the downward regime than upward, revealing that sanctions and decreases of oil revenue have a great impact on reductions of production and economic growth. Therefore, it is recommended that the government, by implementing true politics and economic programs in line with the reduction of sanctions, reduce the sanctions' effects on production and economic growth.
Dr. Mahdi Ghaemi Asl, Dr. Mohammad Nasr Esfahani, Ms. Elham Sadat Mirshafiei,
Volume 14, Issue 51 (5-2023)
Abstract
In this research, the behavior of the international Islamic capital market in the three periods before Corona, Corona and after Corona, as well as multi-fractal analysis is carried out on Sharia-compliant stock markets. Multifractal Detrended Fluctuation Analysis (MFDFA), Multiscale multi-fractal analysis (MMA), are the methods used in this study. We used the Dow Jones index data from 2011 to 2022, the variables are the emerging countries, developed countries, Asia Pacific, America and Europe. The research results shows that Corona has reduced the efficiency of all variables. In all periods, the variables are ineffective, except for the Asia variable in the pre-Corona period, developed countries and America in the post-Corona period. Also, all the variables had persistency in the Corona period. But in the pre-corona period, all the variables had an anti-persistency behavior, except for the variable of emerging countries, which had a persistence behavior, and the variable of Asia, which had a random behavior. In the post-corona period, all the variables have had an anti-persistence behavior, except for the variable of developed countries, which has had a random behavior.
