Esfandiar Jahangard; parisa mohajeri; leila momeni
Abstract
The subject of labor force productivity changes during business cycles has been the focus of much debate among macroeconomics, which has gained less attention among studies focusing on Iranian Economy. In the study, we have aimed at empirically examining the role that labor force productivity fluctuations ...
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The subject of labor force productivity changes during business cycles has been the focus of much debate among macroeconomics, which has gained less attention among studies focusing on Iranian Economy. In the study, we have aimed at empirically examining the role that labor force productivity fluctuations play during economic cycles in the Iran using time-series data for the period of 2005Q2-2015Q1 by applying an autoregressive distributed lag (ARDL) model. In order to estimate relations, we have separated fluctuation and trend components based on Hodrick-Prescott filter. Based on our results, it is suggested that labor force productivity moves in alignment with GDP and increases in expansion periods and decreases in recession periods which indicate pro-cyclical behavior of labor force productivity in Iranian Economy. Second, in the last seasons of an expansion period, the role of labor force productivity fluctuations decreases in gross domestic product fluctuations which is along with the theory.
Seyyed Shamseddin Hosseini; Amir Reza Soori
Volume 7, Issue 25 , July 2007, , Pages 127-155
Abstract
In this paper the efficiency of ten banks (Mellat, Tejarat, Refahe Kargaran, Saderat, Melli, Sepah, Tose Saderat ,Maskan ,Keshavarzi and Sanat va Madan) in Iran and the effective factors on their efficiency levels are estimated, using parametric statistical method, for 1994-2003 period. The estimation ...
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In this paper the efficiency of ten banks (Mellat, Tejarat, Refahe Kargaran, Saderat, Melli, Sepah, Tose Saderat ,Maskan ,Keshavarzi and Sanat va Madan) in Iran and the effective factors on their efficiency levels are estimated, using parametric statistical method, for 1994-2003 period. The estimation of efficiency is conducted by using Battese and Colli model (1992) - Model(1) - while for the estimation of the effective factors on efficiency, Battese and Colli model (1995)-Model (2)- is taken. Regarding the results obtained from the former model, the efficiency of the banks is estimated to be 87.76 percent. Also, for the case of the factors influential on the banks' efficiency, the results of the latter model showed that there is a positive relation between efficiency and sophistication of banks, the number of branches of the banks, and the time trend; meanwhile it has negative relation with the size of the banks.
Somayeh Shahhosseini; Zahra Amoli; Maryam Khalili
Abstract
In international economics literature, there is a great emphasis on importance of exports on economic development and growth. Because of growth in international trade, all countries try to activate this engine of economy by implementing proper policies. The experience of emerging economies has shown ...
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In international economics literature, there is a great emphasis on importance of exports on economic development and growth. Because of growth in international trade, all countries try to activate this engine of economy by implementing proper policies. The experience of emerging economies has shown that countries with high intensity of industrial exports have experienced faster economic growth than others. Thus, focusing on industrial export and studying factors which affect export intensity are very important. So, in this study we investigate the impact of firm- and industry-level characteristics on export intensity. For this purpose, the data for Iranian manufacturing firms during 2007 to 2013 have been used. The results of empirical model estimated by using Dynamic Panel-Data approach and GMM Estimator show that export intensity of firms is positively affected by research and development intensity, capital intensity, labor productivity of firms and export intensity of industry while firm size, industry concentration and industry-level labor productivity has negative and significant effect on export intensity.
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Volume 4, Issue 14 , October 2004, , Pages 131-148
Seyed Komail Tayyebi; Karim Azarbayjani; Shirin Mesrinejad
Volume 8, Issue 29 , July 2008, , Pages 131-151
Abstract
International competitiveness consists of many factors which influence the behavior of an economy. Many measurements of international competitiveness have been developed to be used for predicting the trend of trade. They are used for the analyzing trade relations between countries to show to which extent ...
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International competitiveness consists of many factors which influence the behavior of an economy. Many measurements of international competitiveness have been developed to be used for predicting the trend of trade. They are used for the analyzing trade relations between countries to show to which extent are efficient. In fact, those factors that determine such efficiency are both qualitative (such as sale services) and quantitative in which the later one focus on prices and costs according to the most empirical studies.
The objective of this paper is to measure the degree of the international export competitiveness among the Iran’s trading partners over the period 1995-2003.
Mohammad Jafar Mojarad; Ebrahim Ali Razini
Volume 7, Issue 26 , October 2007, , Pages 131-179
Abstract
Real Effective Exchange Rate (REER) is one of the main factors in international competitiveness whose increase or decrease will enhance or reduce a country's export competitiveness. So its maintenance or enhancement will have positive effects on a country's trade balance and vice versa. Other factors ...
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Real Effective Exchange Rate (REER) is one of the main factors in international competitiveness whose increase or decrease will enhance or reduce a country's export competitiveness. So its maintenance or enhancement will have positive effects on a country's trade balance and vice versa. Other factors effect on REER too. Economic shocks may change the REER in the short-term but in the long-term, the REER is determined based on fundamental variables.
So popular form of equations has been provided to assess the effects of fundamental variables on REER .The intended model was chosen after different estimations and studying them theoretically and empirically and in terms measures of goodness of fit. The results of the estimations indicate that with respect to different statistics, the thesis model is that which the dependent variable is the REER based on export unit value. This model has been estimated by Maximum Likelihood Estimation (MLE) method using the calculated data for REERs and the data relevant to other variables. The estimated relationship for REER indicates a long-term one in which all estimated coefficients has the expected signs and comply the theoretical foundations.
Mehdi Taghavi; Ali Asghar Lotfi
Volume 6, Issue 20 , April 2006, , Pages 131-165
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Volume 5, Issue 17 , July 2005, , Pages 131-160
ali cheshomi; Habib Habibi Nikjou
Abstract
Endogenous institutional reforms can be analyzed within the framework of political economy. This article focuses on institutional reforms in banking industry. The most important formal institution of banking system, which is regulation and supervision of banks, is carried out in Iran by its Central Bank ...
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Endogenous institutional reforms can be analyzed within the framework of political economy. This article focuses on institutional reforms in banking industry. The most important formal institution of banking system, which is regulation and supervision of banks, is carried out in Iran by its Central Bank and the Council of Money and Credit. In this article, the reforms in formal banking institutions in both de jure and de facto arrangements in the period after the 1979 revolution are analyzed. The main question of this article is that how the idea of North and others (2006 and 2009) on limited-access and open-access social order can apply only to the banking industry? Historical evidence and statistical analysis show that the institutional arrangement and enforcement characteristics of banking system in Iran is consistent with features of limited-access order. Especially in 1990s, although private banking was prohibited in Iran, but elites of the dominant coalition, achieved rent by establishing informal banks. These conditions resulted in increasing competition between members of dominant coalition and this led to amending the rules of entry in early 2000 in which private banks were allowed to be established formally. These newly established private banks had ties to another group of the dominant coalition. Then, numerous laws and regulations were adopted to improve supervision of banking activities. In late 2000, the interests of non-formal banks were damaged, and therefore, they tried to continue their activities in formal ways. Overall, the evidence suggests that the Iranian banking institutions still have features of natural state (limited-access order), but there has been a transition from the basic natural state before 2000s to some features of mature natural state.
Naser Khiabani; Hossein Amiri
Volume 14, Issue 54 , October 2014, , Pages 133-173
Abstract
The purpose of this paper is to examine the impact of crude oil production and price shocks on the monetary, fiscal and macroeconomic variables in the framework of new Keynesian open economy DSGE model for Iran.Accordingly, the paper estimates a DSGE model composed of households, firms, foreign trade ...
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The purpose of this paper is to examine the impact of crude oil production and price shocks on the monetary, fiscal and macroeconomic variables in the framework of new Keynesian open economy DSGE model for Iran.Accordingly, the paper estimates a DSGE model composed of households, firms, foreign trade and consolidated accounts of government and central bankfor the Iran economy to be calibrated and simulated. The results of simulation and analysis of impulse response function indicate that the effects of crude oil prices and production shocks on investment, national output, marginal costs of production and inflation are positive and significant. They also show that the shocks have significantly positive effects on government spending, tax revenues and the monetary base. The findings suggest that monetary and fiscal policies in Iran are mainly formed by oil revenue due to the dependency of public budget through the currency obtained from oil export revenues. The results indicate that oil revenue is both a blessing and a curse for the economy. The results stress to reduce the dominance of government on oil revenues, government tax budgeting and limit the government’s access to foreign currency reserves
Ali Asghar Esfandiari; Fatemeh Mehrbani
Volume 6, Issue 23 , January 2007, , Pages 133-162
Abstract
Underground Economy is a series of value added activities which is not defined in the frame of formal economic. Private activities, private organizations and those kinds of market activities which, in some way, are not discovered by officials, totally, are making black or informal economic. Underground ...
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Underground Economy is a series of value added activities which is not defined in the frame of formal economic. Private activities, private organizations and those kinds of market activities which, in some way, are not discovered by officials, totally, are making black or informal economic. Underground economy includes four sections: family, informal, irregular and illegal. The nature of unclearness of black economic, make it hard to estimate and study the economy, because of these, most of current measuring methods are indirect measuring of thise activities which are accompanied by limited assumptions. Through this research, in spite of considering different methods of measuring black economy, we estimate the amount of underground economy, using "currency ratio" and "Gap between expenditure and income of family". The gap between expenditure and income of family method is based on discrepancies between expenditure and income of families which is not reported in the national accounts. In "currency ratio" method we measuring the size of underground economy based on exchange of currency.
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Volume 4, Issue 15 , January 2005, , Pages 133-168
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Volume 5, Issue 16 , April 2005, , Pages 133-152
javad taherpoor; teymor mohammadi; reza fardi
Abstract
In Economic literature, different dimensions of financial development have been scrutinized. In this regard, what is important about bank-based financial systems is the distribution of loans and credits among different economic sectors. Actually, in non-competitive markets characterized by imperfect ...
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In Economic literature, different dimensions of financial development have been scrutinized. In this regard, what is important about bank-based financial systems is the distribution of loans and credits among different economic sectors. Actually, in non-competitive markets characterized by imperfect and incomplete information, any sort of distribution of credits and loans which is based on profit maximization for banks will not necessarily result in maximizing the collective interests of a country and it can even have adverse effects for the whole society. With regard to the issue described, this paper aims to study the role of distribution of credits and loans among different sectors on economic growth in Iran. To achieve this goal, we have used and analyzed time series data for the period 1984 to 2015 using Autoregressive Distributed Lag Model (ARDL). The findings of this paper show that the logarithmic coefficient of financial growth index (calculated as the ratio of total outstanding credits to GDP) is positive and significant in both short-term and long-term periods. This means that financial development plays a positive role in economic growth. On the other hand, the estimated coefficient for the ratio of loans allocated to production sectors to loans allocated to non-production sectors is also positive and significant in both short-term and long-term periods. This suggests that loans allocated to production sectors have a positive effect on economic growth. In fact, one can assert that although an increase in bank loans and credits (actually, the ratio of total outstanding loans and credits to GDP) has a positive effect on economic growth, the more these loans and credits are inclined towards production, the more the magnitude of economic growth being stimulated.
afsane sherkat; Mohammad Jelodari Mamaghani; Ali Asghar Banouei; Ashkan Mokhtary Asl Shouti; Sonia Sabzalizad Honarvar
Volume 15, Issue 56 , April 2015, , Pages 135-160
Abstract
In this paper, we have used four conventional, Adjusted, Generalized, and Adjusted Generalized RAS methods to update input-output Coefficients (IOC). Conventional and Adjusted RAS methods can only update positive and zero cells and are not sensitive to the existing negative cells like net exports and/or ...
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In this paper, we have used four conventional, Adjusted, Generalized, and Adjusted Generalized RAS methods to update input-output Coefficients (IOC). Conventional and Adjusted RAS methods can only update positive and zero cells and are not sensitive to the existing negative cells like net exports and/or net taxes in Input-Output Tables (IOTs). To solve this drawback, analysts have proposed Generalized RAS (GRAS). This method can update positive, zero and negative cells. From the application view point, this method has two limitations: First, it is more focused on numerical examples rather than real IOTs. Second, extending the GRAS to AGRAS has not been attempted yet. The above limitations will lead us to pose the following questions: is it possible to extend Generalized RAS to Adjusted Generalized RAS? And which method has more statistical errors? For this purpose, we have used the two aggregated survey based IOTs of Iran for the years 1996 and 2001. Our findings show that it is possible to extend GRAS to AGRAS. Whit respect to the measurement of statistical errors, the following results have been obtained: first, the statistical errors of GRAS is lower than Conventional and ARAS, and the second statistical errors of AGRAS are much lower than corresponding figures in Conventional, ARAS and GRAS.
Fathollah Tari; Somayeh Jafari
Volume 14, Issue 55 , January 2015, , Pages 137-156
Abstract
Every community produces goods and provides services, and distributes these products and services for end-use based on an instruction or certain order. This performance for many reasons varies from one society to another. The current research studies the impact of Khums on consumption and investment ...
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Every community produces goods and provides services, and distributes these products and services for end-use based on an instruction or certain order. This performance for many reasons varies from one society to another. The current research studies the impact of Khums on consumption and investment based on approach of Kaldor model. The proposed model assumes that the economy is managed by the private sector, and our target population is Islamic community. In this community, the Islamic Republic also has been established in a manner that in this kind of economy, the interest rate has been abrogated, and all economy activities based on Mudaraba or Musharaka. On the other hand, the majority of consumers in the Islamic society were affected by Islamic instruction, and they fulfil their religious duty, and pay the Khoums. The Islamic government is trustees of collecting and distributing Khums. The results have shown that it is possible to achieve steady growth in Islamic Economics, and the existence of Khoums is not a barrier to consistent growth status.
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Volume 5, Issue 18 , October 2005, , Pages 139-162
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Volume 3, Issue 8 , April 2003, , Pages 139-155
Somayeh Khatibi; Ali Asghar Salem
Volume 15, Issue 57 , July 2015, , Pages 141-164
Abstract
After fifty years from establishment of first islamic bank, nowadays islamic banking growth and its successful competition with conventional banks is clearly observed. In our paper, we measure the cost efficiency of islamic and conventional banks. Our sample contains 7 countries: Jordan, United Arab ...
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After fifty years from establishment of first islamic bank, nowadays islamic banking growth and its successful competition with conventional banks is clearly observed. In our paper, we measure the cost efficiency of islamic and conventional banks. Our sample contains 7 countries: Jordan, United Arab Emirates, Indonesia, Bahrain, Saudi Arabia, Turkey and Qatar, because they have both types of banking and data for both types of banks in selective country is accessible. By using Stochastic Frontier Approach over the period of 1999-2006, this study shows that, on average, the efficiency of an islamic bank (0.902) is higher than that of conventional bank (0.849). This fact can be the reason of growing islamic banking sector and the cause of other countries’ incentive to establish islamic banks. The comparisons between countries show that in United Arab Emirates, Indonesia, Bahrain and Saudi Arabia, the efficiency of islamic banks is higher than that of conventional ones but in Jordan, Turkey and Qatar, conventional banks are more efficient..
alaeddin ezoji; Abbas Assari Arani; mohmmad reza vaeze mahdavi; GholamReza K. Haddad
Abstract
The relationship between human capital and labor productivity is always important for economists. Considering the relationship between these two will also be remarkable in microeconomic studies. Meanwhile, the impact of different dimensions of human capital on labor productivity can be a measure ...
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The relationship between human capital and labor productivity is always important for economists. Considering the relationship between these two will also be remarkable in microeconomic studies. Meanwhile, the impact of different dimensions of human capital on labor productivity can be a measure of actual effect of human capital on productivity. The aim of this paper is to examine the effects of various dimensions of human capital (education, health, and experience), on labor productivity based on individual characteristics in Iranian economy. We use micro data (Cost–Income Survey of Urban Areas - 2013) and estimation of Quantile Regression (QR) econometric technique. For this purpose, net income (wage and salary) for employment in private sector is used as proxy of labor productivity. Our results show that in different quantiles, all three dimensions of human capital have a positive and significant effect on productivity of labor force employed in Iranian private sector. Meanwhile, in different quantiles, health indicators of human capital are more volatile than other dimensions of human capital, i.e. education and experience. So, in lower quantiles (Ql), the response of labor productivity to health indicators is more than higher quantiles (Qh). Because of that, any kind of health shock may have a greater effect on labor productivity in lower-income groups. This result shows the importance of health capital in social security, insurance and health systems and reminds us to improve the productivity of working people by means of better health capital.
Mostafa Emadzadeh; Rouhollah Shahnazi
Volume 7, Issue 27 , January 2008, , Pages 143-175
Abstract
Knowledge based economy is directly based on production, distribution and consumption of knowledge and information. Knowledge based and information economy was entered in American economic literature in 1960, but 90,s revolutions remember this word.
At first, in this article we defines the types of ...
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Knowledge based economy is directly based on production, distribution and consumption of knowledge and information. Knowledge based and information economy was entered in American economic literature in 1960, but 90,s revolutions remember this word.
At first, in this article we defines the types of knowledge and knowledge based economy, then study essential processes in the knowledge-based economy, knowledge measurement indices and consider knowledge based economy programs in some successful countries. Also, few suggestions for improving the structure of knowledge-based economy have been presented. Also the rank of Iran in the World Bank knowledge based methodology and characteristics of knowledge-based economy in comparison with three groups candidate countries and main challenges in this view discussed.
The results show that two kinds of problems exist in knowledge based economy in Iran. First, absolute amount of some indices knowledge based economy are low. Second, these indices are unbalance in Iran.
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Volume 2, Issue 7 , January 2003, , Pages 145-164
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Volume 5, Issue 19 , January 2006, , Pages 147-180
sirous omidvar
Abstract
In this paper an economic-philosophical explanation concerning the status of egoism and justice-seeking is presented in consumer theory, which can be considered formally as an axiomatic theory and in nature as a strong version of rational choice theory. By analyzing the structure of an axiomatic theory ...
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In this paper an economic-philosophical explanation concerning the status of egoism and justice-seeking is presented in consumer theory, which can be considered formally as an axiomatic theory and in nature as a strong version of rational choice theory. By analyzing the structure of an axiomatic theory in general and consumer theory in particular, and proposing the hypothesis that there exists an egoistic value base in this theory, and in order to confirm this hypothesis, an emphasis is given to the necessity of a theoretical framework for the definition of egoism and justice-seeking terms. The definitions of these two terms are then explained according to Rawlsian theory of justice in order to provide a background for presenting two basic questions as follows: Firstly, should human being as a consumer and more generally as a decision maker select either egoism or justice-seeking? Secondly, if so, how this selection is being made? In answering these questions, it is argued that by applying rational choice theory and Rawlsian theory of justice simultaneously, consumer ̓s preferences are reducible to two basic desires of egoism and justice-seeking. Lastly, it is concluded by comparison between Rawls’ and Hobbes’ views that philosophical anthropology as a fundamental component of this philosophical system is a determinant factor in selecting either egoism or justice-seeking in various areas including in consumer theory.
Jamal Kakaie; Ali Faridzad; Farshad Momeni; Ali asghar banouei
Abstract
One of the essential indices for measuring sustainable development is ecological footprint. This paper which focuses on concept of ecological footprint of fossil fuels, tries to answer two important questions. The first question is wether the pattern of export and import of energy content in Iran confirms ...
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One of the essential indices for measuring sustainable development is ecological footprint. This paper which focuses on concept of ecological footprint of fossil fuels, tries to answer two important questions. The first question is wether the pattern of export and import of energy content in Iran confirms its comparative advantage? The second question is how much is the ecological footprint of Iranian economic sectors in year 2011? To measure ecological footprint of fossil fuels, we employ two different databases in this article, first activity by activity symmetric I-O table calculated by Iranian Statistical Center for year 2011 and second, Hydrocarbon Balance Sheet of year 2011. Our main results are presented based on two scenarios. In the first scenario, production technology is identical between Iran and other countries, and in the second scenario production technology isn’t the same. Our results based on two scenarios show that in macro level Iranian economy has trade surplus in fossil fuels content. But in sectoral level, 23 and 18 economic sectors have trade deficit in energy content based on first and second scenarios respectively. Ecological footprint based on our first scenario is more than 191 million hectares and the deficit per person is 2.3 hectare. In the second scenario the ecological footprint is 184 million hectares and the deficit per person is 2.2 hectares. Our conclusion is that because of low level of energy productivity in Iran, the results of second scenario are more realistic.
