Ali Asghar Esfandiari; Samireh Moghadas Hosseynzadeh; Majid Delavari
Volume 8, Issue 28 , April 2008, , Pages 119-146
Abstract
In our country, forming Free zones and felling them develop are considered as a very effective element in opportunites and developing of exports, promoting employment, getting the domestic and foreign investments, increasing the general income and tourism, improving the economic stand of the country ...
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In our country, forming Free zones and felling them develop are considered as a very effective element in opportunites and developing of exports, promoting employment, getting the domestic and foreign investments, increasing the general income and tourism, improving the economic stand of the country and also complying with a competitive economy.
Considering the economic operations of three free zones (Kish, Qeshm, Chabahar) during 1994 to 2005 shows that a major part of revenues goes from exporting goods from Qeshm and revenues from tourism in Kish. Major parts of the constructions and fundamental facilities have been expensed in Kish and this region is very important in getting the domestic and foreign investment considering to the other parts of the
country. The operations of Chabahar zone in the case of above mentioned elements has been done weakly because of lacking the constructions and fundamental facilities and also deprivation of the region, so this zone could not access to the main goal which is transit of goods. As a whole, the roles of the above mentioned elements in Iran’s economy are very inconsiderable and it shows that these zones have been operated weakly during these years.
In econometric chapter is determining the effective factors on export expansion and cultivation revenue in foreign exchange. However these factors are acquired with use of panel data of three zones Kish, Qeshm and Chabahar during 1994 to 2005. The issue of this test, illustrates that increasing in variable of current cost and civil cost with three historical delay foreign and domestic investment and revenues has a significant positive effect on export expansion and cultivation revenue in foreign exchange of three free zones. This issue is most helpful to cultivate of revenue in foreign exchange of this places.
Parviz Davodi; Khadijeh Kaboli
Volume 8, Issue 28 , April 2008, , Pages 199-221
Abstract
One of the effective elements in finding the appropriate outward oriented strategies for each country is having the comparative advantage in the production and export of goods. In this regard, numerous indices have been raised by economists, to measure comparative advantages of different countries. Balasa’s ...
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One of the effective elements in finding the appropriate outward oriented strategies for each country is having the comparative advantage in the production and export of goods. In this regard, numerous indices have been raised by economists, to measure comparative advantages of different countries. Balasa’s revealed comparative advantage index is one of them, which emphasizes on the export comparative advantages.
This paper not only attempts to present theoretical foundations of these indices, but also to measure the revealed comparative advantages of Iran’s automobile industry. The results of this study indicate that Iran does not have export comparative advantage in automotive industry.
Ali Arabmazar Yazdi; Leila Khodkari
Volume 7, Issue 27 , January 2008, , Pages 119-142
Abstract
Laundering money is a way to use legally dirty money obtained from illegal actions, so this will threat the nature of economic activities.
In this paper, in addition to surveying of studies related to underground economy, will be calculated the capacity of dirty money provided in the illegal economy ...
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Laundering money is a way to use legally dirty money obtained from illegal actions, so this will threat the nature of economic activities.
In this paper, in addition to surveying of studies related to underground economy, will be calculated the capacity of dirty money provided in the illegal economy in Iran during 1352-80 by selecting one of the models in these studies and using it in the money demand function.
This estimation shows that the capacity of dirty money has been increased recently and there is a significant relationship between growth of money demand and extension of underground economy.
These results should be paide especial attention by policymakers to reduce the underground economy and to create some obstacles to not enter dirty money to economy.
Mahmood Khataie; Somayeh Shahhosseini; Seyyed Hamed Molana
Volume 7, Issue 26 , October 2007, , Pages 103-130
Abstract
The Purpose this paper, is to investigate the effect of oil revenues on real exchange rate in Iran’s Economy by using a macroeconomic model, which has been estimated by 3sls regression technique and annual data during 1965 to 2003 .Provided that the government has taken no policies, the simulation ...
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The Purpose this paper, is to investigate the effect of oil revenues on real exchange rate in Iran’s Economy by using a macroeconomic model, which has been estimated by 3sls regression technique and annual data during 1965 to 2003 .Provided that the government has taken no policies, the simulation results depict that, a rise in oil revenues will increase GDP, domestic price levels, money supply and real import, respectively, but will decrease Non-oil export. By regarding simulation results, we could say that nominal exchange rate will primarily decrease by oil revenues increase both in short run and long run. Afterwards, it will take an increasing trend and eventually, will go back to the initial equilibrium level. We will also observe real exchange rate decrease (increase) via the nominal exchange rate decrease (increase) in short run. However, in the long run, the real exchange rate will decrease by oil revenues boom and before the oil revenues increase will reach a lower level relative to its initial one.
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.
Abolfazl Shah Abadi
Volume 7, Issue 26 , October 2007, , Pages 181-211
Abstract
The aim of this paper is to assess the role of government expenditure and government economic policies on nonoil economic rate of growth during 1959-2003.
The result indicate that nonoil economic rate of growth depends negatively and significantly on the rate of growth of the ratio of labor and ...
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The aim of this paper is to assess the role of government expenditure and government economic policies on nonoil economic rate of growth during 1959-2003.
The result indicate that nonoil economic rate of growth depends negatively and significantly on the rate of growth of the ratio of labor and depends positively and significantly to the ratio of total investment, government investment and the rate of growth of the ratio of government expenditure, while the rate of growth of the ratio of money supply, the rate of growth of the ratio of export and import to nonoil GDP have not been influential and significant. In other word results show that these policy variables have not a significant effect on nonoil economic rate of growth. While finance policy has significant impact on nonoil GDP rate of growth, monetary policy does not.
In addition, we discussed various shocks and their immediate effects on different variables through application of impulse response and variance decomposition and tried to show the effect of changes on variables and on nonoil economic rate of growth accordingly.
Parviz Davodi
Volume 7, Issue 25 , July 2007, , Pages 15-45
Abstract
In spite of the previous literature of demand for money in Iran, which is based on macroeconomic framework, this paper takes a microeconomic approach and investigates the incomes and price – using cost - elasticities of the demand for monetary assets based on a nonlinear demand system. The data ...
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In spite of the previous literature of demand for money in Iran, which is based on macroeconomic framework, this paper takes a microeconomic approach and investigates the incomes and price – using cost - elasticities of the demand for monetary assets based on a nonlinear demand system. The data covers from 1989 to 2005. The model is specified as a dynamic system to take account of institutional constraints and the dynamic nature of the assets markets. The conclusion is that user cost elasticities of the monetary assets with longer maturities is significantly greater than those of shorter periods. The interesting finding, however, coming from a sensitivity analysis implies that the interest elasticities of the demand for monetary assets are almost zero. In addition, it seems that fluctuations in the elasticities may be directly come from real sector’s fluctuations, as happened in 1995 and 1997. Due to the fact that the estimated elasticities depends poorly on the interest rates, it seems that some appropriate non-interest rate based policies such as controlling inflation organizing and structuring financial markets may significantly alter the using cost, which in turn may result change the demand for monetary assets as well.
Ahmad Jafari Samimi; Zahra Elmi; Ali Sadeghzadeh Yazdi
Volume 7, Issue 25 , July 2007, , Pages 75-99
Abstract
In recent centuries, many surveys have been done about money demand function and the variables which affect it, in developed and developing countries. As far as knowing this function accurately, it helps economic planners to adopt suitable monetary and fiscal policies, in order to achieve economic ends. ...
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In recent centuries, many surveys have been done about money demand function and the variables which affect it, in developed and developing countries. As far as knowing this function accurately, it helps economic planners to adopt suitable monetary and fiscal policies, in order to achieve economic ends. Besides the known variables which estimate the money demand function, Gini coefficient variable can be used as income distribution variable in this function. In this article, the effect of Gini coefficient on money demand has been studied and evaluated. Also autoregressive distributed lag method (ARDL) and the annual data of 1999-2004 have been used. The results show that real money balance according to limited and wide money definition is cointegration with gross domestic product, rate of inflation and foreign exchange rate. And sign of Gini coefficient theoretically is not correct. To study short-run analysis of long-run equilibrium the error correction model was used, and the error correction term coefficient shows that, moving towards long-run equilibrium is slow in money market. The stability tests results show the stability of money demand function coefficients. In other words we can accept that money demand function is stable in Iran.
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.
Alireza Kazerooni; Nasrin Rostami
Volume 7, Issue 25 , July 2007, , Pages 177-196
Abstract
The main objective of this research is to investigate the impact of foreign exchange rate fluctuations on the Iran's macroeconomic variables, especially the real output and domestic price level during 1961-2002. For this purpose, the fluctuations of the exchange rate are decomposed into two parts, anticipated ...
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The main objective of this research is to investigate the impact of foreign exchange rate fluctuations on the Iran's macroeconomic variables, especially the real output and domestic price level during 1961-2002. For this purpose, the fluctuations of the exchange rate are decomposed into two parts, anticipated and unanticipated components by using Hodrick Prescott filter. The empirical methodology is based on regression model and VAR method. The main findings of this research indicate that the exchange rate fluctuations have a non-symmetric impact on the real output and the domestic price level in Iran. It means that the impact of anticipated and unanticipated shocks on the real output are different from each other; the anticipated shocks of the exchange rate has more impact on the domestic output in comparison with the unanticipated ones. In addition, the negative shocks (unanticipated change in the exchange rate) have more effects on the real output than the positive shocks. In other words, the unanticipated currency appreciation (a negative shock) has influenced the real output more than the unanticipated currency depreciation. Similarly, the impact of the foreign exchange rate shocks on the domestic price level is non-symmetric. It means that the unanticipated exchange rate shocks have more effect on the price than the anticipated ones. Moreover, the absolute effect of the positive shocks (depreciation) on the price level is more pronounced than that of the negative ones. In other words, the absolute impact of the national currency depreciation on the price is higher than that of the appreciation.
Gholamreza Keshavarz Haddad; Davood Cheraghi
Volume 7, Issue 24 , April 2007, , Pages 47-75
Abstract
Creating new opportunities and utilizing of existing production potentials are the main determinants of demands for labor. In Iran's economy, limitations of markets, excess capacities in some of industries are prevalent. Increases in final demand and capital formations reflects domestic, demand and net ...
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Creating new opportunities and utilizing of existing production potentials are the main determinants of demands for labor. In Iran's economy, limitations of markets, excess capacities in some of industries are prevalent. Increases in final demand and capital formations reflects domestic, demand and net exports is the foreign demand for output, and thereby, creation of job opportunities. Making use of a 24 sectors Input-output index (1996) of Iran, this paper ranks the output and employment capacities of Iran's economy. Our developed Indicators consist of, backward and forward linkages, and final demand elasticity's of output and employment. Findings indicate that, since in the majority of specified sectors, employment elasticity's are less than output elasticity's, growth oriented policies necessarily are not employment creator. Among the specified sectors of the economy, food industries, residential and infrastructural construction, road transportation services, business services and mineral metals are identified as key factors for job opportunities.
Asadollah Jalalabadi; Samad Aziznezhad; Mahmood Reza Mostaghimi
Volume 7, Issue 24 , April 2007, , Pages 77-101
Abstract
Trade liberalization and elimination of price distorition can increase the relative advantage of domestic products. So, the import, especially, intermediate- capital goods import can increase the quality of products and competitiveness of industries. In this paper, the effects of macroeconomic variables ...
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Trade liberalization and elimination of price distorition can increase the relative advantage of domestic products. So, the import, especially, intermediate- capital goods import can increase the quality of products and competitiveness of industries. In this paper, the effects of macroeconomic variables on imported capital is analyzed. The results show that the import demand is widely affected by real exchange rate and real per capita income and that is less affected by the tariff rate, and by using error correction mechanism we found that if we are in disequilibrium, in each period 48 percent of the difference toward equlilibrioum is eliminated.
Seyyed Ahmad Mir Motahari
Volume 7, Issue 24 , April 2007, , Pages 103-116
Abstract
In this paper we address the issue of whether financial structure influences economic growth. Three competing views of financial structure exist in the literature: the bank base, the market base and the financial services view. Recent empirical studies examine their relevance by utilizing panel and cross- ...
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In this paper we address the issue of whether financial structure influences economic growth. Three competing views of financial structure exist in the literature: the bank base, the market base and the financial services view. Recent empirical studies examine their relevance by utilizing panel and cross- section approaches. This paper utilizes time series data of Iran .We find significant effects of financial structure on real per capita output, which is in contrast to some of the recent findings.
Ali Taiebnia; Fatemeh Ghasemi
Volume 6, Issue 23 , January 2007, , Pages 49-80
Abstract
Existing literature on the role of oil price fluctuations has mainly focused on the importer countries and few attempts have been done to analyze the impact of the variability on the oil revenues from the oil producing countries' point of view. So in this study, the role of oil price shocks ...
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Existing literature on the role of oil price fluctuations has mainly focused on the importer countries and few attempts have been done to analyze the impact of the variability on the oil revenues from the oil producing countries' point of view. So in this study, the role of oil price shocks in shaping the fluctuations in Iran's economy by using the seasonal data from 1971– 2003 have analyzed. To this end, at first we should recognize the business cycles in Iran's economy, then by using selective statistical indicators, cyclical behavior of effective key variables on business cycles is computed and analyzed. At the second step, a business cycle model using Vector Auto regression (VAR) is specified and the effects of oil price shocks are analyzed. The results of the research have shown that economy of Iran has experienced seven business cycles and oil factor among other effective factors has played an important role on causing booms and recessions. The result of estimation on VAR model and evaluating the impact of several shocks on production fluctuations indicates that oil price shocks have a long run impact on business cycles in Iran's economy and this effect decreases slowly during the time. In addition, this shocks account for %25 of the production fluctuations. While the instability share of other variables of the model on the production are worthless.
Reyhaneh Gaskari; Hassanali Ghanbari; Alireza Eghbali
Volume 6, Issue 23 , January 2007, , Pages 113-131
Abstract
In this paper, budget deficit, trade balance deficit, inflation rate, fluctuations of exchange rate and terms of trade variables are determined as a base of macroeconomic instability, using moving average method with five-year stable trends estimated for all the considered variables. Macroeconomic ...
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In this paper, budget deficit, trade balance deficit, inflation rate, fluctuations of exchange rate and terms of trade variables are determined as a base of macroeconomic instability, using moving average method with five-year stable trends estimated for all the considered variables. Macroeconomic instability is defined as deviation from stable trends, and finally, we will study the effects of instability variables on private sector investment in Iran.
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.
Esfandiar Jahangard
Volume 6, Issue 23 , January 2007, , Pages 183-206
Abstract
This study analyzes the relevance of the vehicle industry in Iran's Economy with emphasis on the production. In this study, applying Jensen and West (1986) and West (1993) methodologies based on Iran's 1379 Input –Output table, the overall results show that the direct and indirect contribution ...
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This study analyzes the relevance of the vehicle industry in Iran's Economy with emphasis on the production. In this study, applying Jensen and West (1986) and West (1993) methodologies based on Iran's 1379 Input –Output table, the overall results show that the direct and indirect contribution of the value added of vehicle industry in entire economy is 2.4 percent.
Bagher Darvishi; Heshmatolah Asgari
Volume 6, Issue 23 , January 2007, , Pages 263-297
Abstract
In recent years, the rapid economic growth of newly industrialized countries has amazed every body, since during a short period of time, they had experienced extensive economic growth rate. Different economist explained and justified this phenomenon in different ways, the importance of this issue can ...
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In recent years, the rapid economic growth of newly industrialized countries has amazed every body, since during a short period of time, they had experienced extensive economic growth rate. Different economist explained and justified this phenomenon in different ways, the importance of this issue can be considered as a main stimulation which motivated us to investigate the comparative advantage of various economic sections of these countries and compare them with Iran in order to answer the following questions. 1. Do newly industrialized countries have worked based on comparative advantage? 2. does the comparative advantage in industrial section can be considered as a cause which brings the rapid growth in such countries? 3. How is Iran's situation in this matter? In order to answer to above mentioned questions, we have tried to compare the comparative advantage index in main industrial, agricultural and service section's, in these countries during 1984-2000. We have used pooling data in estimating the rate of economic growth. So these countries on comparative advantage of various sections, as a result we can say that, industry and creation of comparative advantage in this section is the most influential factors which cause such an increasing growth in newly industrialized countries. In Iran, we can say that it has not changed its advantage in the same way, but it has focused on agricultural section, which on the basis of research finding, it has a negative effect on economic growth.
Mehdi Taghavi; Hossein Mohammadi
Volume 6, Issue 22 , October 2006, , Pages 15-43
Abstract
In advanced industrial countries, Human Capital has had a major contribution on their growth. In fact human capitl is complementary part of and physical capital and complements, and human capital makes using of physical capital more clear. Analysis of economic growth in advanced industrial countries ...
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In advanced industrial countries, Human Capital has had a major contribution on their growth. In fact human capitl is complementary part of and physical capital and complements, and human capital makes using of physical capital more clear. Analysis of economic growth in advanced industrial countries shows that economic growth can not only be explained with physical capital be labour and human capital as a main variable should be entered in emplenation of production function and og growth. In this paper using data from 1959-2002 we have evaluated the effect of human capital indices on growth of Iranian economy. Findings show that growth in the level of adult's education and average growth of the years of educating of labour force has a significant and positive effect on growth domestic product.
Parviz Mohammadzadeh; Khaled Ahmadzadeh
Volume 6, Issue 22 , October 2006, , Pages 45-70
Abstract
The study of the relationship between age structure of population with macroeconomic variables and the study of its effects on the growth and development of Iran, has remained so far not to emphasized on. Iran is experiencing an increasing rate of population growth and facing the problems caused by it, ...
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The study of the relationship between age structure of population with macroeconomic variables and the study of its effects on the growth and development of Iran, has remained so far not to emphasized on. Iran is experiencing an increasing rate of population growth and facing the problems caused by it, the aftermaths of which will continue well in to the next decades. This study is functional and documental. From the results, it is inferred that the marginal propensity of consumption in equations relating to age groups of population varies in the long term and with confirmation of the long term relation in the function of consumption expenditures of the private sector, the rate of balancing is slow and variable as well. In the process of economic policy making, the age distribution of population should be taken in to account, so that the measures taken in the way of accelerating of economic growth and planning related to it will accord with the population growth and the increasing changes occurred in its structure.
Shahriyar Nessabian
Volume 6, Issue 22 , October 2006, , Pages 97-122
Abstract
In this paper by using panel data and statistics of 1993-2004, and FDI statistics, labour demand function for three economic sectors (agriculture, industry and services) were estimated. The results show that the outcome of (F.D.I) during the study is not significant. But this effect on the skill labour ...
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In this paper by using panel data and statistics of 1993-2004, and FDI statistics, labour demand function for three economic sectors (agriculture, industry and services) were estimated. The results show that the outcome of (F.D.I) during the study is not significant. But this effect on the skill labour in services sector is positive and in industrial sector is negative. The reason for this difference in industrial sector is using of old technology and in services sectors is high education. By presenting the FDI in industrial sector, employment will decrease and FDI for employment in agricultural sector is neutral.
Kambiz Hojabr Kiani; Kiomars Sabzi
Volume 6, Issue 22 , October 2006, , Pages 161-204
Abstract
Investment is one of the most important issues in economic. For economic growth to take place, investment is a major factor especially in developing countries. In the global atmosphere for survival and growth of countries with high technology and production capabilities, investment is a vital requirement. ...
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Investment is one of the most important issues in economic. For economic growth to take place, investment is a major factor especially in developing countries. In the global atmosphere for survival and growth of countries with high technology and production capabilities, investment is a vital requirement. Therefore foreign financial resources as a complementary are necessary for internal resources. Foreign direct investment (FDI) as a financing method is beneficiary in two ways. First, it will cover the lack of investment. Second, it can serve as a technology transfering tool. Based on all these facts it is critical to investigate the factor effecting foreign direct investment and trying to change those in a suitable manner. In this paper, using econometric model and "Auto-Regressive Distributed Lag" method, we estimated the effect of relevant explanatory variables on FDI. The results of the estimation indicates that: First, there is no long-run (equilibrium) relation for supply of foreign direct investment but there exists a short- run relation. Second, there is a positive correlation between foreign direct investment, GDP, exchange rate, human capital and lagged foreign direct investment. Also the relation between foreign direct investment and inflation, tax, and tariff is negative.
Abbas Ali Aboonoori; Hiva Shiveh
Volume 6, Issue 22 , October 2006, , Pages 205-228
Abstract
In this paper our intention is to introduce some effective variables on petrol consuming, and demand function for petrol in Iran. Also we want to show why different consumer policies can't change demand for petrol on optimal manner. This is done by using statistical and econometrics analyses, we estimate ...
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In this paper our intention is to introduce some effective variables on petrol consuming, and demand function for petrol in Iran. Also we want to show why different consumer policies can't change demand for petrol on optimal manner. This is done by using statistical and econometrics analyses, we estimate the demand for petrol and then show that which one of exogenous variable like price of petrol, growth of population, number of vehicles and growth national income have had more effective on stimulating of demand for petrol in Iran during 1968 to 2002. That is there is very small relation between price and demand for petrol; also there is very good relation between demand for petrol and three parameters in our results.
Abdolmajid Jalaie; Hamid Reza Horri; Fatemeh Irani Kermani
Volume 6, Issue 22 , October 2006, , Pages 229-255
Abstract
How the real exchange rate behavior is affected by macroeconomic variables within a country is important. Accordingly, this paper has tried, to explain the behavior of it, and to estimate RER for Iran in period of 1959 to 2004. Estimation of the model has been done through VAR and VECM. ...
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How the real exchange rate behavior is affected by macroeconomic variables within a country is important. Accordingly, this paper has tried, to explain the behavior of it, and to estimate RER for Iran in period of 1959 to 2004. Estimation of the model has been done through VAR and VECM. Estimation of the model showed that Monetary Policy and the degree of economic openness have had a negative impact on the real exchange rate in the short run, but in the long run their impact have turned to be positive. Also, Exchange Policy, which is the indicator of the exchange system in any country, has had a negative impact on the RER in the short run, but in the long run the impact of controls on the exchange system has been positive on RER.
Mohammad Hosseyn Pourkazemi; Javad Rezaee
Volume 6, Issue 22 , October 2006, , Pages 281-301
Abstract
In economic literature, the maximum of output to a given amount of input, is efficiency and vise-versa. In general, there are two main parametric and non- parametric, approaches for measuring efficiency. In this paper, we have used method of non-parametric approach based on mathematical programming. ...
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In economic literature, the maximum of output to a given amount of input, is efficiency and vise-versa. In general, there are two main parametric and non- parametric, approaches for measuring efficiency. In this paper, we have used method of non-parametric approach based on mathematical programming. Data envelopment analysis (DEA), a non-parametric method is used in this study for evaluation of Iran's tourism industry and comparison with other countries of the region. The most important feature of the DEA is its applicability for the firms that have multiple intput and outputs. Using DEA, we study the efficiency of Iran's tourism industry and compare it with other countries of the region in 2003, assuming both constant and variable return to scale. The results of our study show that, subject to former assumption, efficiency in Bahrain, Turkey, Syria are maximum and the average efficiency is equal to %74, which means that the idle capacity is 26 percent in that year. On the other hand, with the later assumption, United Arab Emirates and Azerbaijan were added to the list too, and average efficiency is equal %83/3. So, it is suggested that for increasing the efficiency of unefficient countries, on the basis of our founding, these countries have to follow the Model of Turkey's Tourism Industry as an efficient Model.
