ORIGINAL_ARTICLE
Comparative Analysis of Sectoral Multipliers of Input-Output Model and Social Accounting Matrix
The present study is to indicate that the comparison between sectoral production multipliers of an input-output (I/O) model and a social accounting matrix (SAM) framework is almost impossible without taking into account accounting balances and theoretical considerations. Theoretically, the I/O model provides the Leontief’s production function, on the basis of which sectoral output multiplier can be derived. In a SAM, however, the combined Leontief-Keynes models dominate multipliers commonly known as accounting multiplier matrices. The inter-industry blocks of these matrices cannot be called sectoral output multipliers as in an I/O model, rather they are known as sectoral supply multipliers. Therefore, the two sectoral multipliers are of different nature and cannot be compared for assessing sectoral performance and sectoral policy analysis of the key sectors. In the light of these evidence, this important question can be posed that whether it is possible to compare sectoral multipliers of the two approaches or not? To investigate this, two databases were used, namely the conventional I/O tables and SAM. The data for both sets of tables, prepared by the Research Center of the Islamic Parliament for the year 2011, were aggregated into 21×21 sectors. The overall results indicated that sectoral output multipliers of a conventional I/O model grossly overestimated multipliers of key sectors while sectoral supply multipliers of a conventional SAM underestimated multipliers of the key sectors. To solve the problem and make sectoral multipliers of the two approaches comparable, deduction of imports has been proposed. The overall findings showed that sectoral output multipliers of a conventional I/O model were overestimated about 1.284 unit on average and sectoral supply multipliers of a conventional SAM were underestimated about 1.245 unit on average. Considering the domestic I/O model and SAM, however, it was observed that sectoral output multipliers is on an average 1.202 in domestic IOM whereas in domestic SAM sectoral output multipliers is on an average 1.237. Consequently, the two approaches were comparable in sectoral policy analysis.
https://ijes.shirazu.ac.ir/article_4716_4c8ffffa36831ad2a86133b3795e6e6f.pdf
2017-12-01
143
158
10.22099/ijes.2018.27001.1373
Input-Output Table
Social Accounting Matrix
Sectoral Output Multipliers
Sectoral Supply Multipliers
Leontief Demand-Driven Approach
Ghosh Supply-Driven Approach
Ali
Faridzad
faridzadali@yahoo.com
1
Faculty of Economics, Allameh Tabatabae University, Tehran, Iran.
LEAD_AUTHOR
Ali Asghar
Banouei
banouei@atu.ac.ir
2
Faculty of Economics, Allameh Tabatabaei University, Tehran, Iran.
AUTHOR
References
1
Banouei, A. (1989). Planning model for Iran in input – output framework. Unpublished Ph. D. Thesis, Bombay, and University of Bombay, India.
2
Banouei. A.A., & Mahmoudi, M. (2001). The importance of mixed income and its relation to the employment capacity of economic sectors based on semi social accounting matrix. Majale Barnamme va Boodje, 87-120.
3
Banouei, A. M. (2003). Economic and social analysis of agriculture, industry and service sector multipliers based on SAM. Agriculture Economics and Development, 11(41-42), 1-26.
4
Banouei A.A. (2011a). Evaluation of import deduction methods with emphasis of symmetric table of 2001. Economic Policy, 4(8), 31-73.
5
Banouei, A.A. (2011b). The impacts of reducing the production of agriculture sector on the other economic sectors based on mixed approaches with emphasis normal and special conditions. Faslaname Eghtesad Keshavarzi va Tossee, 79, 155-186.
6
Faridzad, A., Banouei, A.A., Momeni, F., & Amadeh, H. (2012). Investigating the economic and social impacts of petroleum products supply constraints using mixed social accounting matrix. Faslnameh Tahghighate Modelsazi Eghtesadi, 10(3), 99-123.
7
Faridzad, A., Banouei, A.A., Momeni, F., & Amadeh, H. (2014). A policy-oriented analysis on price effect of limitations on petroleum products supply in light of modified supply-driven social accounting matrix. Faslnameh Majlis & Rahbord, 27(79), 153-184.
8
Flegg A.T., & Tohmo, T. (2015). Using CHARM to adjust for cross-hauling: The case of province of Hube, China. Economic Systems Research, 27(3), 391-413.
9
Ghosh, S., & Sengupta, S. (1984). Income distribution and the structure of production. Prometheus Books.
10
Khaleghi, S., Bazzazan, F., & Madani, Sh. (2015). The effects of climate change on agricultural production and Iranian economy. Tahghighate Eghtesad Keshavarzi, 7(25), 113-135.
11
Krorenberg G.T. (2009). Construction of regional input-output tables using non-survey methods: The role of cross-hauling. International Regional Science Review, 32(1), 40-46.
12
Krosenberg G.T. (2012). Regional input-output models and treatment of imports in the European systems of accounts. Review of Regional Research, 32, 175-191.
13
Miller, R. E., & Blair P. D. (2009). Input-output analysis: Foundations and extensions. Cambridge University Press.
14
Pasha, P., Banouei, A., & Bahrami, J. (2013). Policy analysis of the role of import in evaluation of Iranian economic sectors importance. Pajooheshname Bazargani, 67, 81-100.
15
The Research Center of the Islamic Parliment. (2011). Input-output table of 2011. The Research Center of the Islamic Parliment.
16
ORIGINAL_ARTICLE
Reconnoitering the effective Channels of Monetary Transmission Mechanism in Iran Using a Dynamic Stochastic General Equilibrium Model
The purpose of the present research is to investigate the effective channels of the monetary transmission mechanism in Iran. To do so, we devised a New Keynesian Dynamic Stochastic General Equilibrium Model. In our model, the different types of nominal rigidities are introduced beside all the related structural equations, which are extracted and linearized around a steady state point. Furthermore, to design the DSGE model, two different monetary rules—Taylor and McCallum rules—are used. In other words, the different channels of monetary mechanisms are investigated on the basis of these two rules. To estimate the two mentioned models, seasonal data for the period 1990–2015 are collected. The estimation method used in the study is the Bayesian method. According to the results obtained from variance decomposition, in the Taylor rule-based, q-Tobin, interest rate, wealth and expectation channels are the effective channels in monetary transmission mechanisms; also, in the McCallum rule-based model monetary policy, wealth and expectation channels are the effective channels in monetary transmission mechanisms. In addition, based on the simulation results in the Taylor model, increasing interest rate causes a reduction in output, consumption, investment and capital utilization rate, and in the McCallum model, a positive monetary shock can cause an increase in preceding variables, which is a result of price rigidity.
https://ijes.shirazu.ac.ir/article_4807_889861d18dc49f55c474307ca7adfa78.pdf
2017-12-01
159
183
10.22099/ijes.2018.28774.1439
Monetary Transmission Mechanisms
General Equilibrium Model
Channels Transmission Mechanisms
Monetary Rules
Hossein
Marzban
dr.marzban@gmail.com
1
Department of Economics , Shiraz University Shiraz, Iran.
LEAD_AUTHOR
Parviz
Rostamzadeh
parvizrostamzadeh@shirazu.ac.ir
2
Department of Economics, Shiraz University Shiraz, Iran.
AUTHOR
Jafar
Ghaderi
jghaderi@rose.shirazu.ac.ir
3
Department of Economics, Shiraz University Shiraz, Iran.
AUTHOR
Abdulhamid
Khosravi
hamid8054@gmail.com
4
Department of Economics, Shiraz University Shiraz, Iran.
AUTHOR
References
1
Bernanki, B., & Blinder, Alan. (1998). Credit, money and aggregate demand. The American Economic Review, 78(2), 435-439.
2
Boivin, J., & Kiley, M., & Mishkin, F. (2010). How Has the Monetary Transmission Mechanism Evolved Over Time? NBER Working Paper 15879.
3
Calvo, G. (1983). Staggered prices in a utility maximizing framework. Journal of Monetary Economics. 12(3), 983-998.
4
Christiano, L., Eichenbaum, M., & Evans, C. (2005). Nominal rigidities and the dynamic effects of a shock to monetary policy. Journal of Political Economy, 113 (1), 1-45.
5
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6
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7
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8
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Komijani, A., & Alinejad, F. (2012). Evaluating effectiveness of monetary transmission channels on the output and inflation rate and analyzing their relative importance in Iran economy. Budget and Planning Journal, 17(2), 39 – 64.
10
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11
McCallum, B. (1999). Issues in the design of monetary policy rules. In Handbook of Macroeconomics, ed. J. B. Taylor and M. Woodford. Vol. 1C, 1483–1530. Amsterdam: North-Holland.
12
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13
Pourahmadi, R., Hadian, E., Sadraei Javaheri, A., & Shahnazi, R. (2017).Identifying the adopted monetary policy rule by the central bank of Iran. Iranian Journal of Economic Studies, 6(1), 87-107.
14
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15
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16
Shah Hosseini, S., & Bahrami, J. (2016). Macroeconomic fluctuations and monetary transmission mechanism in Iran (DSGE model approach). Quarterly Economic Research, 60, 1- 48.
17
Shahraki, S., Sabahi, A., & Mahdavi, – Adeli, M. (2015). Real exchange rate as a new monetary transmission mechanism in Iran economy: A DSGE model. Budget & Planning Journal, 4, 71 – 106.
18
Sinelnikova, - Muryleva, E. (2017). Analysis of transmission mechanism of monetary policy of the bank of Russia in conditions of transition to inflation targeting. Working papers 041703, Russian Presidential.
19
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20
ORIGINAL_ARTICLE
Iran's Strategy in Utilizing Common Resources of Oil and Gas: Game Theory Approach
Utilization management of Persian Gulf oil and gas reserves is important, because of the importance of this area owing to the fact that it comprised 60% of the proven oil reserves and 40% of the proven gas reserves of the world and it determines the world's oil and gas strategies. By using game theory, this paper seeks to achieve the best strategy that Iran could use in confronting other partners of common fields. Moreover, it seems to find the best approach for Iran and other countries in cooperation and non-cooperation conditions in extraction. The results showed that the higher the number of countries for a common resource, the less the attempt of each country would be; however, the more the total attempt of countries will be, which means more waste of attempt. Overall, partner countries in a resource are recommended to take actions to extract common resource via agreement and mutual cooperation; so that they could extract the same amount of common resources exercising less effort.
https://ijes.shirazu.ac.ir/article_4808_3345c31467a73f0eebe69abf30454034.pdf
2017-12-01
185
202
10.22099/ijes.2018.28145.1423
Game Theory
Static Games with Perfect Information
Common Resources of Oil and Gas
Salah
Salimian
salahsalimian@yahoo.com
1
Department of Economics, Urmia University, Urmia, Iran.
AUTHOR
kiumars
shahbazi
k.shahbazi@urmia.ac.ir
2
Department of Economics, Urmia University, Urmia, Iran.
LEAD_AUTHOR
References
1
Abduli, Q. (2007). Game Theory and Its Applications (Static and Dynamic Games of Complete Information). Academic Jihad of University of Tehran, Tehran,
2
Abduli, Q. (2012). Game Theory and Its Applications (Incomplete, Complementary and Collaborative Information Games). SAMT. Tehran.
3
Ahmadian, M., & Varharami, V. (2013). Achieving optimum path of extraction from offshore reservoirs of south pars (through applying environmental limitations) with emphasis on the significance of financial resources. Journal of Practical Economic Studies in Iran. 2(6), 105-120.
4
Aplak H. S., & Sogut M. Z. (2013). Game theory approach in decisional process of energy management for industrial sector. Energy Conversion and Management, 74, 70–80.
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Mir Abbasi, S. B., & Jahani, F. (2011). Legal regime on utilization of common fields of oil and gas in Persian Gulf in terms of international laws. Rahbord Quarterly, 20(61), 91-122.
24
Navazani, B., & Nojomi, E. (2008). Legal pattern of extraction from common hydrocarbon reserves of Persian Gulf. Journal of Economic-Political Information, 247-248.
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Popescu, M. F., & Hurduzeu, G. (2015). Energy challenges for Europe - scenarios of the importance of natural gas prices from a game theory perspective. Journal of Game Theory, 4(2), 26-35.
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31
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32
ORIGINAL_ARTICLE
Opportunity Inequality and its Effects on Economic Growth and Per Capita GDP
Opportunity inequality and its relationship with economic growth is a concept to which not enough attention has been paid in the previous studies. This study attempts to investigate the effects of opportunity inequality index on economic growth in 15 developing and 15 developed countries over the years 1995-2015. Accordingly, the mean group (MG) estimator within the framework of panel data was used and a new index for opportunity inequality was created. Furthermore, the effects of opportunity inequality and its sub-indices on per capita GDP were compared with the results of the model when economic growth was a dependent variable. The results showed that inequality of opportunities and its sub-indices on economic growth and per capita GDP had different effects in the developed and developing countries.
https://ijes.shirazu.ac.ir/article_4781_cc5c02755452b635b39a513ba3b7d2c0.pdf
2017-12-01
203
225
10.22099/ijes.2018.24959.1322
Economic Growth
Opportunity inequality index
Per capita GDP
Hosein
Mohammadi
hoseinmohammadi@um.ac.ir
1
Faculty of Agriculture, Ferdowsi University of Mashhad, Mashhad, Iran.
LEAD_AUTHOR
Abdol-Hamid
Moarefi- Mohammadi
a.h.mohammadi@ase.ui.ac.ir
2
Department of Economics, University of Isfahan, Isfahan, Iran.
AUTHOR
Hananeh
Aghasafari
h.aghasafari@yahoo.com
3
Faculty of Agriculture, Ferdowsi University of Mashhad, Mashhad, Iran.
AUTHOR
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Wroblowsky, T., & Yin, H. (2016). Income inequalities in China: Stylized facts vs. reality. Perspectives in Science, 7, 59-64.
66
Yalonetsky, G. (2012). A dissimilarity index of multidimensional inequality of opportunity. Journal of Economic Inequality, 10, 343-373.
67
Zhang, Y., & Eriksson, T. (2010). Inequality of opportunity and income inequality in nine Chinese provinces, 1989–2006. China Economic Review, 21, 607–616.
68
ORIGINAL_ARTICLE
Notability of Substantive Elements of Economics, in Groundwork of Evolution of Economic Thought
This paper is investigating that:" resurging evolution of economic thought, EET, is brilliantly in direction with eminence of substantive elements of economics itself". It presupposes that the substantive elements of economics embraces the following package: 1- maintaining on some epistemic doctrines, including rationality, efficiency and equilibrium.2-dynamic characteristic of economic theories. 3-obvious interdisciplinary framework and systematic relationship with other social sciences.4- Compatibility with mildness and moderation.5- institutional, social and ethical potentialty.6-pluralistic in nature and potentiality for methodological reforms.7-Applying the package in question would create an outstanding analytical power. Due to pluralistic nature of conventional economics, it constitutes mainstream and non-mainstream, neoclassic and non-neoclassical paradigms and so forth. Moreover, neoclassic paradigm includes both orthodox and non-orthodox approaches. This paper maintains on efficacy of moderate and non-orthodox paradigms of conventional economics.
https://ijes.shirazu.ac.ir/article_4736_052bffc94da68dddd9c577c37132560c.pdf
2017-12-01
227
249
10.22099/ijes.2018.27401.1386
evolution of economic thought
substantive elements
conventional economics
Yadollah
Dadgar
yydadgar@gmail.com
1
Faculty of Economics and Political Sciences, Shahid Beheshti University, Tehran, Iran.
LEAD_AUTHOR
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186
ORIGINAL_ARTICLE
Green tax effect on Iran’s health sector: A general equilibrium approach
Despite positive aspects of energy consumption, their negative externalities i.e., environmental pollutions, are considerable. Green taxes, paid for products and services that are not environmentally friendly, are recommended as an efficient way of improving health indices. Since, Iran is among the countries with high per capita consumption of energy, pollution can be a kind of threat. In this regard, to simulate the effect of green taxes on Iran’s health sector, we use a general equilibrium model, calibrated by Iran’s Social Accounting Matrix (SAM) in 2011. The results show green taxes reduces all kinds of environmental pollutions. Furthermore, 62% of health costs are spent on mortality, 26.4% on morbidity, and 11.6% on non-health effects.
https://ijes.shirazu.ac.ir/article_4813_5031ba8dcbd7ffdffdb602527223cbf8.pdf
2017-12-01
251
270
10.22099/ijes.2018.28305.1430
Simulation
Green Tax
Pollutants
Health Indicators
General Equilibrium Model
Mohammad Ali
Torki Harchegani
torki@pnu.ac.ir
1
Department of Agricultural Economics, Sistan and Baluchestan University, Zahedan, Iran
LEAD_AUTHOR
Nazar
Dahmardeh
nazar@hamoon.usb.ac.ir
2
Department of Economics, University of Sistan and Baluchestan, Zahedan, Iran.
AUTHOR
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