About the journal
According to the press law, the license to publish Quarterly Journal of Economic Modeling in Persian and English under number 124/1939 dated 1388/04/21 (15 July 2009) was registered and issued by the Ministry of Culture and Islamic Guidance. Based on the approval number 3/181884 dated 1391/09/13 (3 December 2012) of the Ministry of Science, Research and Technology, this journal is qualified and has an IF coefficient from the Islamic World Citation Database (ISC).
The Quarterly Journal of Economic Modeling is an open-access, double-blind, peer-reviewed journal published by Islamic Azad University, Firuzkuh Branch. The purpose of this journal is to provide a reliable scientific source for the publication of up-to-date and new applied articles in the field of quantification and economic modeling in Iran. The publication covers topics and axes of macroeconomics, microeconomics, international trade, national and regional economics, monetary and financial economics, econometrics, environmental economics, industrial economics, public sector economics, and health economics. The Journal was dedicated to the publication of highest-quality research studies.
To allow for easy access, the journal is set to be an open-access. The journal charges 2 million Rials to compensate a part of the arbitration fee, and if the article is accepted, additonally 10 million Rials will be charged from the authors for a part of the costs of processing the articles, the rest of the costs will be financially supported by Islamic Azad University, Firuzkuh Branch. Non-Iranian authors are free of mentioned charges.The journal is published an online version.
- Ranking in Portal of Scientific Journals, 2023: B
- Citation Impact (CI) in ISC: 0.58 and Q1
This journal is published with the scientific cooperation of the Iranian Economists Association(IEA).“This journal is a member of Committee on Publication Ethics (COPE) and complies with the highest ethical standards in accordance with ethical laws”.
Recent Articles
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Open Access Article
1 - The impact of financial inclusion on economic growth: a cross-country analysis
Akram Ghoreyshvandiabrak Saleh Ghavidel Doostkoui Masoud Soufi MajidpourIssue 1 , Vol. 18 , Spring 2024Financial inclusion is a key driver of economic growth. This study evaluates its effect on economic growth in 59 high-income countries from 2004 to 2021, using panel data and quantile methods. Financial inclusion is measured through banking penetration, availability of MoreFinancial inclusion is a key driver of economic growth. This study evaluates its effect on economic growth in 59 high-income countries from 2004 to 2021, using panel data and quantile methods. Financial inclusion is measured through banking penetration, availability of banking services, and usage of financial services. The results reveal significant differences among countries, generally enjoying favorable macroeconomic conditions, and indicate slight convergence among them. Positive impacts on economic growth were observed from bank and facility penetration, while ATM penetration and financial deepening showed negative effects. Influential factors include capital, inflation rate, unemployment rate, economic openness, life expectancy, and population growth. The impact of financial inclusion is more pronounced in lower-income countries. Expanding financial inclusion through the Internet and mobile banking, especially in less privileged areas, and enhancing microfinance and user-friendly applications, are pivotal for economic growth. Manuscript profile -
Open Access Article
2 - The relationship between exchange rate overshooting and currency substitution in Iran’s economy
Seyed Mansour Heshmati Sanzighi Rahman Saadat Esmaeil AbounooriIssue 1 , Vol. 18 , Spring 2024Whenever a country is domestic currency cannot fulfill its duties, foreign currency replaces it. Currency substitution is a common phenomenon in developing countries influenced by economic and political factors. One of the most significant economic aspects is exchange r MoreWhenever a country is domestic currency cannot fulfill its duties, foreign currency replaces it. Currency substitution is a common phenomenon in developing countries influenced by economic and political factors. One of the most significant economic aspects is exchange rate overshooting. The main objective of the current study is to investigate the relationship between exchange rate overshooting and currency substitution in Iran. Using Kamin-Ericsson (2003) method, we first examine the foreign currency in circulation and the volume of currency substitution in Iran’s economy using annual data from 1961-2021. Then, the self-explanatory Bayesian Vector Autoregression (BVAR) method is used to investigate the impact of exchange rate overshooting on currency substitution. According to the results, exchange rate overshooting and inflation always lead to increased currency substitution in Iran’s economy. On the other hand, economic growth has a negative effect on currency substitution. Additionally, neutralizing the impact of shocks related to exchange rate overshooting, economic development, and inflation requires more than five years; therefore, economic policymakers must consider the factor when managing currency substitution. Manuscript profile
Most Viewed Articles
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Open Access Article
1 - E-Business and Startup's Performance
niloofar imankhanIssue 41 , Vol. 12 , Summer 2018Abstract The purpose of this paper is survey of impact of e-business on startup's performance. E-business is investigated in relation to design and production, marketing, distribution, coordination with suppliers and post-sale services. Type of the research is practical MoreAbstract The purpose of this paper is survey of impact of e-business on startup's performance. E-business is investigated in relation to design and production, marketing, distribution, coordination with suppliers and post-sale services. Type of the research is practical and the method is cause and effect. Managers and experts operative startups are the statistical society of research that 140 from 200 included. Library studies and field research for gathering information used and data collection done with questionnaire that its construct, content validity and also reliability approved. Results show that E-business through change on production and distribution process (design, marketing, distribution, coordination with suppliers and post-sale services), decrease of operating expenses and increase of return on asset effect on startup's performance. The government with providing supportive rules, universities with principled training and create entrepreneurship thought space and private sector by risky investment will be golden triangle in the country. Manuscript profile -
Open Access Article
2 - Estimating the market power of the insurance industry in Iran using the Hall-Roger approach (during the period 1380-1399)
Jafar Yousefi Mehdi Moradi Yousof HajiAsghari Rostam GaradagiIssue 60 , Vol. 16 , Winter 2023Estimating the amount of market power and determining the market structure of various industries is one of the most important topics in microeconomics,because the amount of production and price of various goods and services is affected by the degree of monopoly and mark MoreEstimating the amount of market power and determining the market structure of various industries is one of the most important topics in microeconomics,because the amount of production and price of various goods and services is affected by the degree of monopoly and market power of that industry.The purpose of this research is to estimate the degree of agreement and the levelof market power of the insurance industry using the Hall-Roger approach in the form of supply and demand equations with the help ofpanel data using the two-stage least squares method.For this purpose,the information of27public and private insurance companies In addition to the large share of their financial market in employment, the insurance industry is closely related to the characteristics of savings and the level of economic development of countries, and as one of the tools of risk management, it provides the expansion of social welfare on the one hand, and on the other hand It leads to the growth of investment and, as a result, more production and economic prosperity.As expected,the research results indicate the mutual dependence of insurance industry companiesSo that more than 85%of the investigated insurance companies have been able to enjoy a significant profit margin by creating a gap between the price and the final cost.Also the calculation results related to theLerner index based on theHall model show the information related to the coefficient of heterogeneity among insurance companies.Iran insurance has the highest Lerner index with a coefficient of0.565andAsia,Dana andPasargad insurances are in the next ranks with0.419,0.248and0.182respectively, Manuscript profile -
Open Access Article
3 - The impact of governance quality on the industrial export advantage
Hedayat Hatami Kaveh Derakhshani Darabi Dariush HassanvandIssue 64 , Vol. 17 , Winter 2024The purpose of this study is to identify the affecting factors of the industrial products export advantage with an emphasis on the governance quality. For this purpose, after reviewing the literature and identifying the affecting variables of the export advantage, the r MoreThe purpose of this study is to identify the affecting factors of the industrial products export advantage with an emphasis on the governance quality. For this purpose, after reviewing the literature and identifying the affecting variables of the export advantage, the relationship between variables is estimated with using the panel data models and data of 82 selected countries in the period of 2007-2018. The results showed that governance quality and the quality of transportation infrastructure had a positive and significant relationship with the industrial products export advantage index. Also, the coefficients of the real exchange rate and foreign direct investment are also positive and significant. Based on the results, institutional quality and good governance through creating a stable environment and reducing costs ultimately lead to improving the export advantage in industrial production. Based on the results, policy stability, transparency of laws and contracts, attention to property rights, as well as decisiveness and speed of contract enforcement are suggested. Manuscript profile -
Open Access Article
4 - An investigation of creative industries’ impact on human capital
Hoda Zobeiri Maryam EhsaniIssue 64 , Vol. 17 , Winter 2024The aim of this paper is to investigate the impact of creative industries on the human capital of 85 developed and developing countries. The findings indicate that “creative industries” affect the human capital of the countries. The results also display positive effect MoreThe aim of this paper is to investigate the impact of creative industries on the human capital of 85 developed and developing countries. The findings indicate that “creative industries” affect the human capital of the countries. The results also display positive effects of production growth, government expenditure, population, and investment on human capital. The coefficient of creative industries in developed countries was found to be greater than in developing countries. As results, it is expected that the influence of creative, cultural, and artistic productions on human capital in these countries will be greater than in developing countries. The findings show that countries have a particular affinity for creative industries. Consequently, increasing focus on these sectors and fortifies the labor force with the necessary expertise to generate innovative goods and services, thereby fostering greater economic growth and prosperity and augmenting employment opportunities. Manuscript profile -
Open Access Article
5 - Non-Interest Income, Profitability and Risk in Banking Industry
Amir Ali Farhang Abolghasem Esna Ashari Asghar Abolhasani Mohammad Reza Ranjbar Fallah Jahangir BiabaniIssue 35 , Vol. 10 , Autumn 2017The aim of this study is evaluating the effect of non-interest income on the risk and profitability of the banking industry by using systematic GMM during 1384 to 1393. The findings show that the increase of non-interest income results in the increase of profitability a MoreThe aim of this study is evaluating the effect of non-interest income on the risk and profitability of the banking industry by using systematic GMM during 1384 to 1393. The findings show that the increase of non-interest income results in the increase of profitability and the decrease of risk in Iran's banking system and there is a significant positive relationship between the concentration index and bank risk in such a way that the increase of concentration index results in increase of banks' risks. On the base of the research results and current problems of Iran's banking system, paying attention to banks' money making ability through non-interest income can be considered as a major solution. Manuscript profile -
Open Access Article
6 - Investigating Heckscher-Ohlin Theory in Iran-Germany International Trade: A Computable General Equilibrium Approach
sara pandazmay seyed Abdolmajid Jalaee Mohsen Zayandeh RoodiIssue 43 , Vol. 12 , Autumn 2019Abstract The study of the Heckscher-Ohlin theory is crucial for countries seeking comparative advantage, taking into account the production methods and technology of these countries. Iran also needs to develop a model for the production and export of goods, as well as i MoreAbstract The study of the Heckscher-Ohlin theory is crucial for countries seeking comparative advantage, taking into account the production methods and technology of these countries. Iran also needs to develop a model for the production and export of goods, as well as imports of materials and goods, in order to develop and develop its trade relations with Germany. To achieve this, the effect of the relative abundance of labor and capital on the exports of both countries of Iran and Germany is studied in the form of a computable general equilibrium model and the use of the GTAP software. The results of various scenarios show that in the sectors of agriculture, industry and mining, services and oil and gas, which indicate the sectors of oil and non-oil exports in the economy of Iran and Germany, exports of services and industry and mining sectors, respectively, have the greatest effect on economic growth of both Country has Accordingly, it is proposed to accelerate the economic growth in both countries by focusing on strengthening non-oil exports, with emphasis on industrial and service exports. Manuscript profile -
Open Access Article
7 - Customer Behavior Analysis of the Bank Industry: Grounded Theory Approach
Mostafa Esfandiari niloufar imankhanIssue 45 , Vol. 13 , Summer 2019Abstract The present paper has reviewed a comprehensive approach and qualitative research method based on Strauss and Corbin's theory (1988), to examine and present the brand assessment model through customer behavior analysis. The sample size was finalized for intervi MoreAbstract The present paper has reviewed a comprehensive approach and qualitative research method based on Strauss and Corbin's theory (1988), to examine and present the brand assessment model through customer behavior analysis. The sample size was finalized for interviewing experts in the context of theoretical saturation, and the foundation theory data strategy, including open source, axial and selective coding, as well as the basic model of this theory was used to formulate the model of the research. The findings of the research led to identification of causative conditions, grounded conditions, interventional conditions and evaluation dimensions in customer behavior analysis based on the brand choice of the bank. Formulating valuation strategies with the approach of customer relationship process measurement, service delivery process, customer segmentation process, target selection process and placement process, a mentality image based on brand distinction and competitive advantage will be based on customer analysis and selection. Manuscript profile -
Open Access Article
8 - The Effect of Mark-up Shocks on Intensification of Stagflation in Iran’s Economy: DSGE Approach
Teymour Mohammadi abbas shakeri Masoume EmamikalaeeIssue 40 , Vol. 11 , Winter 2018The purpose of this paper is to investigate the effect of existence of mark-up shocks, which is a criterion for monopolistic structure of industries on intensification of stagflation phenomenon in Iran’s economy. For this purpose, it has been utilized by the metho MoreThe purpose of this paper is to investigate the effect of existence of mark-up shocks, which is a criterion for monopolistic structure of industries on intensification of stagflation phenomenon in Iran’s economy. For this purpose, it has been utilized by the methodology of dynamic stochastic general equilibrium during the period of 1959-2014. The findings showed that mark-up shock increases price and decreases production which shows the existence of stagflation. Meanwhile, the mark-up shock will instantly decrease consumption and investment. As a result, mark-up shock does not have a positive effect on the economy as it tend to produce stagflation. Based on the results, it is possible that by consideration anti-monopoly laws it can be prevented increasing the mark-up. Manuscript profile -
Open Access Article
9 - Economic Theory of Optimal Marriage
vahid mehrbaniIssue 33 , Vol. 10 , Winter 2016Economic approach to the marriage represent that optimal conditions in family formation are realized whenever the man loves equally himself and his wife and so the household resources will be equally distributed. Accordingly, the purpose of this paper is to consider the MoreEconomic approach to the marriage represent that optimal conditions in family formation are realized whenever the man loves equally himself and his wife and so the household resources will be equally distributed. Accordingly, the purpose of this paper is to consider the credibility of this idea and to find empirical evidence. By using a sample including of 415 married men residing in Tehran, empirical evidence suggest that higher income of women tends to convey marriage to optimality but the age and education of women go in opposite direction. In addition, the number of children and the degree of resemblance of couples' tastes will have positive impact on reaching to optimal marriage. At last, marriage will be close to optimality, if the men’s education is higher than the women’s occurred in lower ages and the number of children and the degree of understanding between the couples is more. The most important implication of this paper is that the similar characteristics of men and women are not necessarily a favorite situation in marriage but some discrepancies seem to be better. Manuscript profile -
Open Access Article
10 - Evaluating the Effect of Absolute and Relative Poverty on Happiness Inequality in Iran
younes nademi Seyed Parviz Jalili KamjooIssue 41 , Vol. 12 , Summer 2018Abstract This research, based on Bentham's philosophy of pleasure and suffering, has assumed the pleasure as happiness and suffering as poverty and it is following the evaluation of the suffering caused by poverty on pleasure of happiness equality. Absolute and relative MoreAbstract This research, based on Bentham's philosophy of pleasure and suffering, has assumed the pleasure as happiness and suffering as poverty and it is following the evaluation of the suffering caused by poverty on pleasure of happiness equality. Absolute and relative poverty can lead to happiness inequality as moving the line of poverty to the higher deciles of income will lead to more happiness gap in the deciles. In this way, this research, by using Markov Switching method, has evaluated the effect of absolute poverty on happiness inequality during the period 1985-2012 and also has evaluated the effect of relative poverty on happiness inequality during the period 1979-2012 in Iran’s economy. The results from estimated research models showed that absolute and relative poverty have a significant positive impact on happiness inequality in Iran’s society. Manuscript profile
