Introduction of a Discrete Choice Model: Application for Mod Choice in Isfahan City
Marzieh
Googerdchian
دانشجوی دکتری اقتصاد، دانشکده علوم اداری و اقتصاد، دانشگاه اصفهان
author
Rahman
khoshakhlagh
استاد اقتصاد، دانشکده علوم اداری و اقتصاد، دانشگاه اصفهان
author
Nematollah
Akbari
استاد اقتصاد، دانشکده علوم اداری و اقتصاد، دانشگاه اصفهان
author
Meisam
Akbarzadeh
استادیار حمل و نقل، دانشکده حمل و نقل، دانشگاه صنعتی اصفهان
author
text
article
2016
per
Until now, most studies related to derivation of demands have been conducted on the basis of a classical desirability function and in a continued choice set while, in many cases, individual choices cannot be made in a continued set. In economics, a discrete or quantal choice model is used to describe, explain and predict choices between two or more alternatives. These choices may occur in contrast to classical consumer theory that is made on the assumption of continued amounts of demanded commodities. In the case of classical consumer theory, continued space of alternatives allows the use of calculus to derive optimal amount of goods and modeling the empirical demand by using regression analysis. However, in a discreet choice model that describes the discreet condition, use of the first order condition for optimal solutions is impossible. The discreet choice model uses theoretical and empirical modeling of individual choices with a deterministic choice set and the relationship between each individual choices, characteristics of individuals and characteristics of each alternative by estimating the probability of choosing each alternative for one individual with a logestic and probit model. Thus, the first part of this paper is allocated to the introduction and modeling of a discreet choice and deriving a travel demand function from it. Then, this framework is empirically used for deriving of travel demands for work and educational trips in Isfahan city in the morning peak time by questionnaires randomly given to 457 travelers. As the results show, the demand for cars is just a function of seeking comfort, while the demand for buses is a function of time, cost and comfort. Also, the demand for taxi is a function of time, cost, comfort and income.
The Journal of Economic Policy
Yazd University
2645-3967
8
v.
15
no.
2016
1
24
http://ep.yazd.ac.ir/article_772_7f7be1e9dbb8e26323d0ed99d04e0531.pdf
The Effect of Financial Development on the performance of Non- Financial Firms in the Iranian Securities and Exchange Organization
کاظم
یاوری
دانشیار گروه اقتصاد دانشگاه تربیت مدرس
author
Amene
Shahidi
دانشجوی دکتری اقتصاد، دانشگاه تربیت مدرس
author
Mohammad Ali
DehghanDehnavi
Assistant Professor in Islamic Banking Department, Allameh Tabatabai University
author
Hassan
Heydari
استادیار گروه اقتصاد، دانشگاه تربیت مدرس
author
text
article
2016
per
The current study examines the relationship between financial development and capital structure of non-financial firms in the Iranian Securities and Exchange Organization on the basis of unbalanced panel data. In order to do this, Feasible Generalized Least Squares method and data of 200 non-financial firms in the period from 1999 to 2012 have been used. The results show that stock market development has a positive and significant effect on the debt ratio of non-financial firms in Iran, and the impact of stock market activity index is greater than the effect of size index. Surprisingly, the effect of banking sector development on firm's debt ratio is found negative and significant. Also, in this case, the impact of stock market activity index is greater than the effect of size index. Furthermore, the results show that the examined variables related to firm's specifications including profitability, liquidity, non-debt tax shield, size, asset structure and growth opportunity are significant determinants of the non-financial firm's capital structure.
The Journal of Economic Policy
Yazd University
2645-3967
8
v.
15
no.
2016
25
54
http://ep.yazd.ac.ir/article_751_1bc865eb427820024bc5e6c69e3f4c70.pdf
Assessing the Misalignments of the Real Exchange Rate using the BEER Approach
Ahmad
J. Samimi
استاد گروه اقتصاد، دانشکده علوم اقتصادی و اداری، دانشگاه مازندران
author
Nasrin
Ghobadi
دانشجوی دکتری اقتصاد، دانشگاه مازندران
author
text
article
2016
per
The real exchange rate equilibrium path reflects at each moment the value of the real exchange rate which is compatible with full employment of productive factors and equilibrium in balance of payments. The real exchange rate is viewed as a key indicator of external competitiveness. So, its misalignments may be rather costly. Both overvalued and undervalued currencies have their negative implications.
In this article, the real exchange rate equilibrium relationships in US dollar are investigated according to Johansen Cointegration technique using the Behaviorally Equilibrium Exchange Rate (BEER) during 1338-1391 with its fundamentals including net foreign assets, openness, terms of trade and productivity. The results correspond to the theory and are in agreement with previous studies such as Clark and Macdonald (1998). The error correction term is -0.51 and significant. Since 1991, the real effective exchange rate has been less than the equilibrium real exchange rate, which shows depreciation. Specifically, the gap has been increasing drastically since the 1980s. Naturally, this has led to export reduction and import expansion. However, the positive point is that since 1991, this two rates have drawn much close together; in some years, the real rate has been even upper than the equilibrium.
The Journal of Economic Policy
Yazd University
2645-3967
8
v.
15
no.
2016
55
76
http://ep.yazd.ac.ir/article_771_61dc9918aa51b755f2543a6f34121382.pdf
Studying The Factors Affecting Iran’s Tax Revenues
Mostafa
Shamsoddini
PhD student in Economics, Faculty of Management and Economics, University of Sistan and Baluchestan
author
Javad
Shahraki
Associate Professor, Faculty of Management and Economics, University of Sistan and
author
text
article
2016
per
This research aims at the factors affecting tax revenues in Iran. To study the subject, first, a good model is selected according to the structure of Iran's economy and, then, a theoretical model as well as the corresponding variables and equations are presented. The study makes use of seemingly unrelated regressions method (SURE) and 3SLS because there are different and seemingly unrelated equations. The model is double estimated, once without virtual variables and again with virtual variables. This implies the existence of structural breaks in model equations. As a result of both estimates, it is shown that the change in the tax structure has had the least effect on import taxes as to increase tax revenues. Also, the changes in the tax structure have been the most effective in the other direct taxes and taxes on consumption and sale respectively so as to increase tax revenues.
The Journal of Economic Policy
Yazd University
2645-3967
8
v.
15
no.
2016
77
116
http://ep.yazd.ac.ir/article_752_3a6714ea8314664748cd65a8a4d9a7ec.pdf
Investigating the economic factors and policies affecting psychological health
Nader
Mehregan
Professor Economic Sciences, Bu-Ali Sina University
author
Khosro
Rashid
Assistant Professor Educational Psychology, Bu-Ali Sina University
author
Samineh
Ghasemifar
MA Economic Sciences, Bu-Ali Sina University
author
Hossein
Sohrabivafa
PHD student, Allameh Tabatbai University
author
text
article
2016
per
Health, specifically psychological health, is among the national indicators that are affected by macroeconomic variables. This paper presents an overview of theoretical relationships between macroeconomic variables and psychological health using econometric methods. It was estimated on the basis of cross-sectional models. To this end, first, a fuzzy logic system and psychology experts’ opinions in different provinces were used to estimate the psychological health indicator. Then, the effect of macroeconomic variables on this indicator was investigated. The results of the study showed that the unemployment variable, Gini coefficient, and inflation had a significant negative correlation with psychological health, while per capita production was found to have a significant positive correlation with it. In other words, this health indicator is not separate from macroeconomic variables, and each of these variables had a significant effect in 30 provinces during 1387. This emphasizes the need for further attention by policy makers, especially in the economic and health sectors.
The Journal of Economic Policy
Yazd University
2645-3967
8
v.
15
no.
2016
117
136
http://ep.yazd.ac.ir/article_753_2736debf57e758902dd54caf70c76ce2.pdf
Comparing the Effects of Unemployment and Inflation on Happiness
Esmaiel
Abounoori
Professor of Econometrics & Social Statistics, Department of Economics, Semnan University
author
Jamal
Eskandari
MA in Economic Sciences, Graduate of Semnan University
author
text
article
2016
per
In fact, happiness (favorability) may be the ultimate goal of any society. Happiness is affected by both unemployment and inflation. The main aim of this paper is to compare the effects of unemployment and inflation on happiness in EEC and Iran. To do so, we used panel data regarding the 2001-2011 period. To compare the effects of unemployment and inflation on happiness, we estimated the model using standardized variables. After conducting the F test and the Hausman test, the parameters were estimated using the Fixed Panel approach. The results indicate that both unemployment and inflation have negative and significant effects on happiness; if each of inflation rate and unemployment rate increases by one standard deviation, happiness will be reduced by about 0.044 and 0.181 of standard deviation respectively. The comparison of the effects of inflation and unemployment on happiness has shown that the effect of unemployment on happiness is considerably more than that of inflation (this is found according to the Wald test). Moreover, if the per capita GDP increases by one standard deviation, happiness will also increase about 0.140 of standard deviation. Thus, in order to enhance happiness, reduction of unemployment should be a preferred policy.
The Journal of Economic Policy
Yazd University
2645-3967
8
v.
15
no.
2016
137
152
http://ep.yazd.ac.ir/article_754_33afdf699064c6f9b7a5850888455468.pdf
The Evaluation of the Total Factor Productivity in Iran’s Manufacturing Sector
Reza
Youssefi Hajeabad
Assistant Professor in Economic, Payame Noor University (PNU)
author
text
article
2016
per
The aim of this paper is to study the total factor productivity variation and measurement of the technical efficiency in Iran's manufacturing sector. For this purpose, the productivity of 130 different industrial groups in the 1996-2007 period was analyzed using the Malmquist index and the data envelopment analysis approach on the basis of International Standard Industrial Classification (ISIC). The results of the study show that the total factor productivity in the manufacturing sector is decreased because the pure technical efficiency and the scale efficiency have decreased. Refined petroleum products industries have had the greatest growth of the total factor productivity through the technological change. Also, shipping industries have had the greatest decline of the total factor productivity. The total factor productivity in most industries has been variable, and 18 industries have had positive total factor productivity changes. The averages of technical efficiencies in Iran's manufacturing sector, with the assumption of constant return to scale and variable return to scale, are 0.42 and 0.34 respectively. Also, the average of scale efficiency in industries is 0.79.
The Journal of Economic Policy
Yazd University
2645-3967
8
v.
15
no.
2016
153
175
http://ep.yazd.ac.ir/article_755_63ecccc0fea5b5629389a607ddd91da6.pdf
Complete file
text
article
2016
per
The Journal of Economic Policy
Yazd University
2645-3967
8
v.
15
no.
2016
1
196
http://ep.yazd.ac.ir/article_931_a34fd2d9622a31bb20aa68b74d05711c.pdf