New Keynesians
Sohrab Delangizan; Ali Falahati
Volume 1, Issue 3 , January 2012, , Pages 163-136
Abstract
One of the most important macroeconomic discussions is the effects of monetary policies on the real section of economy. With this respect, the present article investigates the asymmetric or symmetric effects of monetary shocks on the economic growth of Iran. In this article, the relevant model extracted ...
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One of the most important macroeconomic discussions is the effects of monetary policies on the real section of economy. With this respect, the present article investigates the asymmetric or symmetric effects of monetary shocks on the economic growth of Iran. In this article, the relevant model extracted from macroeconomic literature of money in Iran's economy is being examined. The results demonstrate that money isn’t neutral in Iran's economy and the effects of monetary policies on growth of Iran's economy are asymmetric. The negative monetary shocks influence the economic growth more than the positive monetary shocks; so that the negative monetary shocks in boom cycles and the positive monetary shocks in recession cycles have more significant effect on the economic growth. According to the result, it can be demonstrated that the effects of monetary shocks on economic growth is larger and more asymmetric if the shocks are bigger, and the lower the monetary shocks, the less the effects, consequently the asymmetry of negative and positive shocks will be slight. Also there are information gaps between economic makers so that the expectations are not formed rationally in Iran. So according to the results, it can be concluded that Iran's economy is in agreement with the Keynesian economics.
Economic Growth
Mahdi Fadaee; Somayeh Nayeri
Volume 1, Issue 1 , January 2012, , Pages 159-133
Abstract
In economic growth and development analysis, cultural change has a special situation. Cultural indicators can affect on production factors and economic growth endogenously and exogenously. Nowadays, in economic literature capital divided to: Physical, Human, Cultural, Social and Natural capital. In this ...
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In economic growth and development analysis, cultural change has a special situation. Cultural indicators can affect on production factors and economic growth endogenously and exogenously. Nowadays, in economic literature capital divided to: Physical, Human, Cultural, Social and Natural capital. In this research, first, we survey cultural indicators, and then point to production factors especially on capital and theatrically factors and GDP. In this research we used Auto Regressive Distributed Lag (ARDL) model to analyze short and long run relations between variables and then test the stability of model by CUSUM and CUSUMQ. Error Correction model (ECM) model is used to show how the short run shocks justify in next periods. Findings show that the model was stable and cultural indicators during 1975-2005 had significant and positive effect on economic growth of Iran.
Export Diversification
Karim Azarbaiejani; Molood Raki; Homayoun Ranjbar
Volume 1, Issue 3 , January 2012, , Pages 201-165
Abstract
According to discussion of export growth and economic growth, export diversification issue has been considered by many policymakers to mean the increase of exports commodity and reducing its dependence on one source of income. In other words, regardless of the composition or concentration of a country’s ...
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According to discussion of export growth and economic growth, export diversification issue has been considered by many policymakers to mean the increase of exports commodity and reducing its dependence on one source of income. In other words, regardless of the composition or concentration of a country’s export, more export commodities means more diversified exports. In recent years, export diversification in developing countries that mainly rely on exporting a single product has become a political priority. This study makes use of the new growth and international trade theories and panel data methods to examine the impact of export diversification on total factor productivity (TFP) and economic growth during the 1999-2007 in D-8 countries. The research results show that export diversification has a positive and statistically significant effect on the TFP and economic growth. Therefore to create economic growth and sustainable development, Iran has to pay attention to the export diversification policy as well as other factors that affect TFP and economic growth.
Income inequality
Reza Akbarian; Mahsa Famkar
Volume 1, Issue 1 , January 2012, , Pages 185-161
Abstract
This paper examines the association of income inequality and economic growth with public expenditures on education as an intermediary factor in Iran. Time series data from 1974-2005 and two stage least squares (2sls) method are used to estimate a simultaneous equation system. Public expenditures on education ...
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This paper examines the association of income inequality and economic growth with public expenditures on education as an intermediary factor in Iran. Time series data from 1974-2005 and two stage least squares (2sls) method are used to estimate a simultaneous equation system. Public expenditures on education and economic growth are dependent variables and population density, human capital, past public expenditures on education and income inequality are considered as explanatory variables in the model. The results are as follows: 1-There is a negative association between income inequality and economic growth with or without public expenditures on education as an intermediary factor. 2-Public expenditures on education are negatively associated with economic growth. 3-Although the sign of past public expenditures on education with public expenditures as an intermediary factor is positive, but the coefficient of past public expenditures on education is not significant in the growth rate equation. So a judgement can not be made about its relationship with economic growth.
