Economics Research

Abstract This survey tries to estimate the consumption function in iran’s economy with the purpose of deriving the long-run and short-run marginal propensities to consumption. In this study, the annual frequency of data in the range of 1991- 2003 is used, and the ARDL method is employed to run the model. The results indicate that long-run and short-run marginal propensities to consumption from disposable income, are 0.49 and 0.39. It means that one percent increase in disposable income leads to 0.49 and 0.39 percent increase in consumption(in the long-run and short-run, respectively). Also liquidity has a positive significant effect on private sector consumption.

Abstract Budget deficitis the result of financial polices in economics. Using of these polices has significant and important effect on economy. The most important question about increasing of government debt or budget deficit is whether it is able to change the real variable in economy or not. We can find answer to this question by analyzing the outcome of budget deficit in short-run and long- run. In order to answer the question, relationship between budget deficit and money demand has been surveyed in this paper. In this paper, we survey the effect of budget deficit on money demand. There are three main theories: 1) Keynesian theory
2) Neoclassical theory and 3) Ricardian equivalence theory. The result based on econometrics models by using Iran economy data indicated that there is a long-run dynamics relationship between budget deficit and money demand.

Abstract Creating knowledge jobs is a key issue in understanding labor market evolution in any knowledge economy. Obviously, function and action of agents in labor market is derived from fundamental change in the production system. In this paper, we explain some changes in today’s business era under knowledge economy, and then explain the role of knowledge job change in nature of labor market as a cause of knowledge economy and simultaneously an outcome of it. The most important finding from reviews of economic achievement in some countries, is a change in national system of education as a basic need for a paradigm shift to knowledge society.

Abstract In this article, we propose a model that incorporates the preference of multiple decision makers in to a decision making process using multiple criteria and cardinal method in the capital budgeting context. In this model, all characteristics represent a significant improvement compared with traditional capital budgeting techniques.

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 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.

Abstract The determination of economic value of environment resources has become significantly important in the light of increasing pollution and environmental deterioration that is getting momentum. On this ground, the necessity of gauging the cost of pollution, preparing the so called "green national accounts", introducing new taxes and levies to contain and prevent further destruction of the environment, has received especial attentions. The very objective of this paper is to determine the recreation value of Anzali Wetland for which the travel cost approach based on household production function has been employed. Generally two approaches are employed in regard to wetland recreation valuation. One is based on demand for travel which takes into account the willingness of individuals to pay for travel expenses. And the second one is based on recreation production function and marginal cost of each travel, taking into account the shadow price of recreation. The present paper has utilized the second approach for the valuation of wetland recreation services introduced by Doctor Pajooyan.J (1987). This approach has benefited from Gary Beaker household production function. The result of this study indicates that  distance and travel expenses have significant effects on the provision of recreation services.  Under competitive condition, marginal cost of recreation is estimated to amount to Rls, 1100000 per day which is take to be the shadow price of recreation. The result also indicates that the recreation demand has a negative relation with the shadow price of recreation and the relation is positive with respect to income of the consumers and this is in line with the theoretical foundation. Moreover, traveler's willingness to pay has a positive relation with income, marital status, level of education, and travel interest, but with respect to quality of wetland, this relation is negative.

Abstract Banks have important roles in economy, such as mobilization of funds, intermediation, and utilization of fund and financial management. Even in developed economies, banks are on the center of financial and economic movements and they are the basis of monetary policies. In this research, we have investigated the cost-efficiency of banking systems (the case study of the Bank Mellat in the period 1991-2003). We have also estimated the cost-efficiency by using the parametric technique (econometrics) and Translog Stochastic Frontier Cost Function. The advantage of this method is that it divides inefficiency into two independent residuals including cost-inefficiency and stochastic factors. After estimating of the cost function and finding the inefficiency factor, we realize that 10 percent of variance of model's errors is attributed to inefficiency factors. On the other hand, our
research show that the total cost to minimum cost ration of the Bank Mellat is 1.07. It means that during this period, the Bank Mellat had only 7 percent inefficiency and the trend of inefficiency was stable during the whole period.

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 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.

Abstract The principal goal of this paper is presenting a new method for estimation of optimal reinsurance retention related to Capital Adequacy and potential losses of an insurance company. Whereas, there are several methods for calculating this, but in this paper, we have calculated this optimal retention by using of value at risk minimizing and Monte Carlo simulation (that is one of the VAR estimation methods). This is calculated for Mellat Insurance Company in 1384. According to our findings, for sum insured of this company's policies, approximately, the optimal reinsurance retention have been equal to 58%, 35,845 million Rails and 18,937 million Rails in quota share, excess of loss and surplus contracts, respectively.