Empirical Examination of Monetary Model of Exchange Rate in Iran Using Markov Switching Approach
Hussein
Asgharpur
Assistant professor, Economics Department, University of Tabriz
author
Ali
Rezazadeh
Ph.D Student of Economics, University of Tabriz
author
Sivas
Mohammadpoor
M.A. Student of economics, University of Tabriz
author
Khalil Jahangiri
Jahangiri
. Ph.D Student of Economics, University of Tabriz
author
text
article
2010
per
The main subject of this paper is to examine the monetary model of exchange rate in Iran during post Islamic revolution. In this way, a monetary model with flexible prices using Markov Switching approach is estimated. Based on the estimation results, years 1979-1989 are in regime one that match with the fixed exchange rate regime years in Iran and years 1990-2008 are in regime two and are in accordance with floating exchange rate regime. The results also show that there is a support for monetary exchange rate model in one of the two regimes. Based on the results and current exchange rate regime, it is recommended from policymakers that in order to make the exchange rate to be appreciable, they must accelerate the economic growth, control the price levels and liquidity in the economy using the appropriate monetary policies.
The Journal of Economic Policy
Yazd University
2645-3967
2
v.
4
no.
2010
1
21
https://ep.yazd.ac.ir/article_106_e64fee8c7da4beb5dc578613bcbf3a92.pdf
xxThe Effect of Social Capital on the Economic Growth:A Theoretical Framework
Mohsen
Renani
Associate professor at University of Isfahan
author
Hassan
Daliri
Ph.D. Student at Bu-Ali Sina University
author
text
article
2010
per
The social capital is one of the new concepts which have been welcomed in economic studies.. But there is always a dissension among economic thinkers about how this social variable affects the economic production. In this study we have used a theoretical microeconomic framework accompanied by the concept of transaction costs to expand a new theoretical basis for explaining how the social capital affects the production and economic growth. The necessary data of all provinces of Iran for the period of 1379-1384 to test our research hypotheses have been used. The results of the experimental test show that during the period of study, the social capital, such as physical capital and human capital, have significant and positive effect on economic growth. The production elasticity of the social capital, as two other capitals, has been between zero and one; suggests that the economy is in the second stage of production function.
The Journal of Economic Policy
Yazd University
2645-3967
2
v.
4
no.
2010
23
56
https://ep.yazd.ac.ir/article_108_73ac58543e3b602e0de815b922595c0c.pdf
Analysis of Bank Allocation of Resources in Uncertainty Conditions Using Fuzzy Logic, A Case Study: Agricultural Bank, Tehran
Syed Nezamuddin
Makiyan
Assistant Professor of Economics, Yazd University
author
alireze Naser
Sadrabadi
Lecturer of Management, Yazd University
author
Abdolreza
Sarlak
M.A. in Economics
author
text
article
2010
per
One of the most important operations of banks in the economy is the allocation of their resources to the borrowers. In this regard, banks tend to optimize their utilities. This study aims to develop a decision model based on Analytic Hierarchy Process (AHP), Matematical Programming and Fuzzy Logic to assist Agricultural Bank, Tehran, for optimization of their credits in different sectors of the economy. The research has been done for the bank during the period of 2003- 2008. The results indicate that the current system of allocation of credits is not appropriate and the bank needs to change the percentage of credits to the various sectors. The study also shows that the Agricultural Industry has the priority to receive credits from the bank and the Horticulture, Natural Resources, Poultry and the Agricultural Machinery sectors, are the last ones to receive loans from the bank. The research also indicates that with the application of the optimizing process, the opportunity cost of lending funds to the borrowers is zero.
The Journal of Economic Policy
Yazd University
2645-3967
2
v.
4
no.
2010
57
79
https://ep.yazd.ac.ir/article_109_0ff4c05e37642ca51eb97f10a5c4ffba.pdf
Effects of Financial Repression on Capital Productivity in Agricultural Sector Case Study Islamic Republic of Iran (1953-2007)
Ali Hossein
Samadi
Assistant Professor of Economics, University of Shiraz
author
Javad
Torkamani
Professor of Agricultural Economics, Azad University, Marvdasht Branch
author
Sanaz
Mansouri
M.S. in Agricultural Economics, University of Shiraz, Shiraz, Iran
author
text
article
2010
per
Agricultural sector as one of the main economic sectors of Iran has a great share in total GDP. The, present study, aims to examine the effects of financial repression policies on capital productivity in agricultural sector. In doing so, we use time series data during 1953-2007 and Gregory – Hansen Cointegration and DOLS methods. Results show that financial repression has no effect on productivity of capital in Iran’s agricultural sector in the long-run. Capital stock and non financial saving both show positive effect on capital productivity in agricultural sector.
The Journal of Economic Policy
Yazd University
2645-3967
2
v.
4
no.
2010
81
103
https://ep.yazd.ac.ir/article_110_b42b69a2b067550de2dc4d9a029e39ef.pdf
Investigation of Replacing the Oil’s Revenues from Dollar to Euro
Mohsen
Mehrara
Assistant Professor, Tehran University
author
Farkhondeh Jabalameli
Jabalameli
Assistant Professor, Tehran University
author
Mehdi
Barati
M.A. in Economics
author
text
article
2010
per
In this research we introduce a network effect model to identify the condition under which a parallel invoicing in different currencies would be possible. It also includes a simulation designed to illustrate the dynamics of the currency choice of oil invoicing. The results show that a stable equilibrium of parallel oil invoicing in two currencies can arise if (1) none-network effect costs, such as political or social conditions have a moderate impact on oil market players; (2) transaction costs are low (3) a sufficiently high share of Euro invoicing is expected and finally (4) information costs are either low or declined quickly with increasing use of Euro.
The Journal of Economic Policy
Yazd University
2645-3967
2
v.
4
no.
2010
105
133
https://ep.yazd.ac.ir/article_111_6e150aaf054dd8ee339ed251dd346d91.pdf
Measuring the Importance of Sectors with Social Accounting Matrix Aproach
Xx Hossein
Dehghan
M.A. in Economics, Allame Tabatabaei University
author
Mehdi
Tekieh
Assistant Professor, Allame Tabatabaei University
author
Ali Asghar
Banouei
. Associate Professor, Allame Tabatabaei University
author
text
article
2010
per
Input-Output table is a framework for investigating the intersectoral relationships. It also shows the linkage between different sectors from selling & buying point of view. In this framework, intermediate transactions are the main criteria for the measurement of linkages on the basis of which key sectors can be identified. This paper demonstrates that this type of assessment is necessary, but not sufficient. The sufficient pre-requisite is that in addition to intermediate transaction, income and expenditure have to be considered simultaneously in measuring sectoral importance. Application of social accounting matrix, not only satisfies the sufficient pre-requisite in evaluating sectoral importance, but also offers more flexibility in assessment compared to the standard input-output approach. The results based on the Input-Output approach and Social Accounting Matrix approach reveal the importance of service sectors in social accounting matrix approach framework, whereas non-service sectors appear outstanding in input-output approach framework.
The Journal of Economic Policy
Yazd University
2645-3967
2
v.
4
no.
2010
135
171
https://ep.yazd.ac.ir/article_112_d1a7706bc851451f7eaa76e55ef21961.pdf
Effect of Internal and External Capital Stock on Value Added in Iran’s Medium and Large Industries
Parviz
Mohammadzadeh
. Assistant Professor of Economics Department, University of Tabriz
author
Gholamhossein
Rahnomay Garamaleki
M.A. in Economics
author
text
article
2010
per
In this study, the effect of internal and external capital stock on value added of Iranian medium and large industries is investigated over the period of 1994-2007. For this purpose, a Cobb-Douglas model is used in which production is a function of labor, internal capital stock, external capital stock, human capital and internal R&D. We estimate this model for 22 industrial groups by applying panel data approach. The results indicate that internal capital stock, external capital stock, human capital and internal R&D have a significant positive effect on value added of Iranian medium and large industries. Also results indicate that as expected labor has positive effect on value added of investigated industries, but is not statistically significant.
The Journal of Economic Policy
Yazd University
2645-3967
2
v.
4
no.
2010
173
198
https://ep.yazd.ac.ir/article_113_8ac56876112e0d6bb2d0664f8e165dfe.pdf