پژوهشی
Saed Samadi; Mohammad Vaez; Mohammad Reza Ghasemi
Abstract
Due to the high costs of collecting the quarterize or seasonal statistical information and the need of econometricians for Modeleny and short analysis, the National Statistical Institutes decided to obtain quarterize time series as indirect methods of the short-term dynamics of the annual data.
In ...
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Due to the high costs of collecting the quarterize or seasonal statistical information and the need of econometricians for Modeleny and short analysis, the National Statistical Institutes decided to obtain quarterize time series as indirect methods of the short-term dynamics of the annual data.
In this article, two alternative approaches based on related indicators and pure mathematics has been introduced and then after temporal disaggregation of government oil revenues, consumer price index and liquidity, the approaches compared to each other.
The empirical results indicated that Boot, Feibes and Lisman methods deliverd the better results for two series (government oil revenues and consumer price index), whereas Chow and Lin approach is more approprate for liquidity, based on MSE and r2 criteria.
Also this paper shows that the best choice approach for temporal disaggregation of economic time series is not always possible.
پژوهشی
Nooraddin Sharify
Abstract
Vehicles have an important role in passenger transportation in Iran. This paper runs an economic appraisal on intercity buses, minibuses and public four-seated conveyances of Mazandaran province in view point of private and public sectors.
The benefit-cost ratio, costs adjusted efficiency, necessary ...
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Vehicles have an important role in passenger transportation in Iran. This paper runs an economic appraisal on intercity buses, minibuses and public four-seated conveyances of Mazandaran province in view point of private and public sectors.
The benefit-cost ratio, costs adjusted efficiency, necessary capital for job creation for a labor force and labor force adjusted productivity, which are used in private and public or both view points appraisal have been employed to compare different vehicles. The necessary data are obtained through questionnaires administered to passengers, and related vehicles drivers and transportation syndicates of the province.
It can be concluded that buses are preferred to other vehicles in view point of adjusted productivity of labor force, minibuses in view point of more economic investment and costs adjusted efficiencies and finally public four-seated conveyances being preferred in view of required capital for job creation to other vehicles.
پژوهشی
Mahmood Hoshmand; Mohammad Danesh nia
Abstract
Always, financial sector has a central role in development and economic growth. Hence the relationship between financial development and economic growth appears to be essential. This article examines the impact of financial development on economic growth, with consider other variables affecting ...
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Always, financial sector has a central role in development and economic growth. Hence the relationship between financial development and economic growth appears to be essential. This article examines the impact of financial development on economic growth, with consider other variables affecting the economic growth, such as ratio of commercial, domestic investment and interest rate.
This study estimates a relationship between variables within a Auto regressive Distributed Lag framework over the periods .
The results of this study represents a significant and positive impact of financial development on economic growth. Also domestic investment has a positive and significant impact on economic growth, and Interest rate has a significant negative impact on economic growth.
پژوهشی
Ali Takroosta; Habib Morovat; Hossein Takroosta
Abstract
Importance of risk and uncertainty in financial markets became more apparent after financial crisis in 2007. Volatility is the most important measure of risk in financial markets. Thus, modeling volatility of financial markets is one of the important issues in finance and economics. In this paper first ...
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Importance of risk and uncertainty in financial markets became more apparent after financial crisis in 2007. Volatility is the most important measure of risk in financial markets. Thus, modeling volatility of financial markets is one of the important issues in finance and economics. In this paper first we tried to specify key features of volatility of daily returns of Tehran stock exchange price index (TEPIX) and then using these features, we modeled volatility of this index.
We found that this index is fat-tailed distributed and mean- reverting. Furthermore, we showed that there is no leverage effect, so using of TARCH and EGARCH models are not convenient. Finally, we found that AR(2)-GARCH(1,1) Model can capture features of data in the best way.
پژوهشی
S. Jamaledin M. Zonouzi
Abstract
In last 1990 decade and early 21 century due to high fluctuations in assets prices and occurring asset price bubbles, most studies in monetary economics has concentrated on the reaction of monetary policy to movement in asset prices.
The purpose of this paper is to analyze the suitable reaction ...
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In last 1990 decade and early 21 century due to high fluctuations in assets prices and occurring asset price bubbles, most studies in monetary economics has concentrated on the reaction of monetary policy to movement in asset prices.
The purpose of this paper is to analyze the suitable reaction of monetary policy to movement in asset prices in Iran. This analysis is based on the Structural VAR class of models, which allow assessing the importance of assets prices for central bank targeting. In this article, assets prices include housing prices, stock prices, exchange rates and gold (coin) prices in period of 1989/Q2-2007/Q1.
According to the results, the expansionary monetary policy (real liquidity) shocks as a significant effect on stock prices, housing prices and exchange rates. The gold prices are more affected by dollar prices fluctuations. Housing prices, gold prices, and exchange rates explain 20 percent of output (GNP) fluctuations, but stock prices do not explain output fluctuations significantly. Therefore, exchange rate, housing prices, and gold prices have important role in transferring monetary shocks to output fluctuations respectively.
پژوهشی
Shahram Fattahi; Masoomeh Torkaman Ahmadi
Abstract
In this paper, the random walk hypothesis and the OPEC oil market efficiency have been examined. The random walk hypothesis states that prices are completely stochastic in nature so that they have 'no memory'. In its weak-form, changes in prices occur stochastically and, as a result, the random walk ...
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In this paper, the random walk hypothesis and the OPEC oil market efficiency have been examined. The random walk hypothesis states that prices are completely stochastic in nature so that they have 'no memory'. In its weak-form, changes in prices occur stochastically and, as a result, the random walk behavior of prices is usually used to test the weak-form efficiency.
In order to study the random walk hypothesis and the OPEC oil market efficiency, Lo & Mackinlay single variance ratio test (LOMAC) and Chow & Denning multiple variance ratio test (CD) have been utilized. Accordingly, we employed the index of OPEC oil spot prices for the period of 3rd January 1997 to 24th September 2010 and three selected subsamples.
The results indicated that although the efficiency does not hold for the whole period, there is an increasing trend. Furthermore, using the moving window method, a time-varying trend has been detected in the graph of returns autocorrelations of the oil price index for the whole period.
پژوهشی
Nahid Malekiniya; Hossein Asgari Alouj; Azam Ghezelbash
Abstract
Working capital management is one of the management structure of an organization that plays a fundamental role and also is as a major force in evolution of the organization. So it is important to acquire economic profits.
This study investigates the relationship between working capital policy and profitability ...
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Working capital management is one of the management structure of an organization that plays a fundamental role and also is as a major force in evolution of the organization. So it is important to acquire economic profits.
This study investigates the relationship between working capital policy and profitability of companies in automobile, pharmaceutical and mineral industries in Tehran Stock Exchange. The sample was selected consisting of 235 data -year of listed companies in Tehran Stock Exchange in automobile, pharmaceutical and mineral industries from 1383 to 1387. The methodology of this research was discriptive and the hypotheses were analyzed by using Pearson correlation and regression model.
The results of this study indicate that there is no direct and significant relationship between working capital management strategies with earning per share and return on equity, but there is a direct and significant relation between working capital management strategies and return on investment but not very strong correlation, and only 6% of the variation in the return on investment can be justified by the variation in the working capital management strategies.
پژوهشی
Ali Akbar Naji Meidani; Mahindokht Kazemi; Mandana Ghafuri
Abstract
This research uses econometrics techniques to study significant correlation between poverty and globalization of economy and investigate mechanisms influence of globalization on poverty in the economy during the period 1984-2004.
In this context, the estimated three models discussed. In the form of ...
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This research uses econometrics techniques to study significant correlation between poverty and globalization of economy and investigate mechanisms influence of globalization on poverty in the economy during the period 1984-2004.
In this context, the estimated three models discussed. In the form of a model for a significant correlation between poverty and globalization of the economy - causal relationship between these two variables - the intensity and direction of influence of globalization on poverty and other models. The mechanism described in the framework model for how to express this influence. Results of regression estimates and Granger Causality shows:
Significant positive and relationship between economic globalization and poverty ALS, global economy is one cause of poverty and Unsuccessful because of poor economic globalization is being. A positive relationship between the globalization of the economy and inflation, therefore the global economy through inflation increases poverty. A negative correlation between the globalization of the economy and unemployment. therefore .
