Editorial
Research Paper
Ali Faridzad; Ali Asghar Banouei
Abstract
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 ...
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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.
Research Paper
Hossein Marzban; Parviz Rostamzadeh; Jafar Ghaderi; Abdulhamid Khosravi
Abstract
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 ...
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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.
Research Paper
Salah Salimian; kiumars shahbazi
Abstract
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, ...
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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.
Research Paper
Hosein Mohammadi; Abdol-Hamid Moarefi- Mohammadi; Hananeh Aghasafari
Abstract
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 ...
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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.
Research Paper
Yadollah Dadgar
Abstract
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, ...
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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.
Research Paper
Mohammad Ali Torki Harchegani; Nazar Dahmardeh
Abstract
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 ...
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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.
