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Open Access Article
1 - Evaluating the environmental and economic impacts of Carbon Tax Using Computable General Equilibrium Model (CGE)
جمشید پژویان حسن معین نعمتیThis paper deals with environmental, welfare and employment effects of Carbon Tax. Carbon tax as a policy instrument, internalizes the external cost of air pollution in price of fuel. The very objective of carbon tax is not only to reduce fuel consumption and hence redu MoreThis paper deals with environmental, welfare and employment effects of Carbon Tax. Carbon tax as a policy instrument, internalizes the external cost of air pollution in price of fuel. The very objective of carbon tax is not only to reduce fuel consumption and hence reduce harmful emissions made by economic agents, but also to lessen the tax burden on wage earners and reduce labor cost which in turn provides incentives for job creation. This study uses Computable General Equilibrium Model which is revenue neutral, i.e. total tax income is taken constant in the model. The model is a non- linear equation system. GAMS as a Software along with input – output table pertaining to Iranian economy is used to solve the mode. The model was calibrated to base year 1378[1]. The findings in this study indicate that the use Carbon Tax as a policy instrument to alleviate the Burdon of tax on labor income, would improve qualitavely the environmental standards and reduce the environmental concerns besides to positive impact on employment and welfare gains. Manuscript profile -
Open Access Article
2 - A strong convergence for the general equilibrium system
Hamid Sahebi Stojan Radenovic -
Open Access Article
3 - Investigating the Impact of National Currency Value Shocks on the Inflation Structure and Unemployment of the New Keynesian Model Using a Dynamically Computable General Equilibrium Approach
Hediyehsadat Mirsharafodini Abdolmajid Jalaee Mohsen Zayandehroodi -
Open Access Article
4 - Investigation of Markov Dynamic General Equilibrium Marking Model (MS-DSGE) in order to Develop Iran's Monetary-Economic System
Mohammad Ghasemi Kiomars Soheili Shahram Fattahi -
Open Access Article
5 - Analysis of the Effect of News Shocks Related to the Future Technology on on on Economic Welfare
mohammad alibegli nader mehregan alireza erfaniThe present article aimed to understand the effect of news shocks related to the technology on macroeconomic variables. In this regard, a dynamic stochastic general equilibrium model was used to analyze the reaction of macroeconomic variables in Iran based on seasonal d MoreThe present article aimed to understand the effect of news shocks related to the technology on macroeconomic variables. In this regard, a dynamic stochastic general equilibrium model was used to analyze the reaction of macroeconomic variables in Iran based on seasonal data during 2001-2021. The results indicate that the news shocks increases the productivity of all production factors within one standard deviation. This increase escalates the wage rate as well as the interest rate. Household consumption, production and investment also increase opposing this shock. Due to the increase in production, the working hours will increase and consequently the inflation will decrease. Moreover, the economic prosperity grows due to the increased consumption and production. Manuscript profile -
Open Access Article
6 - The Role of Economic and Environmental Policies on Preventing Air Pollution
Marziyeh Sadat Vahabzadeh Moghadam Karim Eami Farzaneh Haju HassaniThe purpose of the article is to investigate the role of economic and environmental policies on preventing air pollution using the Dynamic Stochastic General Equilibrium (DSGE) model during the period of 1990-2019. Based on the results of the model, the economic policy MoreThe purpose of the article is to investigate the role of economic and environmental policies on preventing air pollution using the Dynamic Stochastic General Equilibrium (DSGE) model during the period of 1990-2019. Based on the results of the model, the economic policy shock causes a sudden increase in economic growth and consumption and then their decrease; However, the economic policy shock increases air pollution. The shock of environmental policies, firstly, increases consumption and economic growth and then decreases them. Investment also decreases as a result of the shock of environmental policies. Based on the results of variance analysis, the role of economic policies for the country's economic situation and creating air pollution is greater than environmental policies. The role of environmental policies in reducing air pollution is less than the role of economic policies in increasing air pollution. It is suggested that when the government increases its expenditures, it imposes green taxes or carbon emission taxes at a lower rate than the increase in government expenditures so that the economic growth of the country will continue to be maintained along with the reduction of environmental pollution. Manuscript profile -
Open Access Article
7 - Modeling the Effects of Indirect Taxes on the Welfare of Income Deciles in Iran with the Computable General Equilibrium Application
Akbar Khodabakhshi Saeideh RoustaeiAfter oil revenues, taxes are the second and most important source of government expenditure in Iran's economy. On the other hand, considering the importance of social justice as one of the main goals of the government, the effects of imposing taxes on households are al MoreAfter oil revenues, taxes are the second and most important source of government expenditure in Iran's economy. On the other hand, considering the importance of social justice as one of the main goals of the government, the effects of imposing taxes on households are also very important. Therefore, this research, using a calculable general equilibrium model, seeks to investigate the welfare effects of imposing indirect taxes on different income deciles in Iran. For this purpose, two scenarios have been applied and the reactions of households with different income deciles to these scenarios have been investigated. In the first scenario, a uniform tax was imposed on all goods and services at a rate of five percent and in the second scenario, a tax on food at a zero rate, a tax on some luxury goods at a rate of 14 pecent and a tax on other goods at the same rate of 5 percent. EV index was also used to measure welfare. The results of the model show that the imposition of indirect taxes in the first scenario worsens the welfare of low-income households, while the second scenario improves the welfare of poor households and worsens the welfare of rich households. However, in the first scenario, the GDP was higher than in the second scenario. Therefore, it is recommended to choose a tax policy using an integrated tax system, we will see efficiency and economic justice. Manuscript profile -
Open Access Article
8 - Welfare costs of inflation using frictional unemployment in Iran:General Equilibrium Model approach
Hossein Nasrollahi Karim Emami kambiz Peykarjou Abbas Memarnejad Taghi TorabiThe objective of this paper is to examine the welfare cost of inflation in the context of Iran's economy, incorporating labor market frictions (search theory) within a monetary general equilibrium model. The model also features a cash-in-advance constraint. To achieve t MoreThe objective of this paper is to examine the welfare cost of inflation in the context of Iran's economy, incorporating labor market frictions (search theory) within a monetary general equilibrium model. The model also features a cash-in-advance constraint. To achieve this goal, through the utilization of calibration and sensitivity analysis in the steady state, the findings indicate that both employment and production are contingent on the elasticity of labor supply and the elasticity of vacancies in job matches. Depending on these two parameters, they may exhibit an increase in response to an escalation in the inflation rate. Additionally, the three-month optimal inflation rate in a stable state is determined to be 4.66%. The welfare gains, derived from reducing the three-month inflation rate from its current level of 5.3% to the optimal rate in a steady state, is calculated to be 0.0031% of total consumption. Therefore, based on the results, it is suggested that in inflation reduction policies, the effects of this reduction on welfare are taken into consideration, and special attention should be paid to the area of business investment by giving tax incentives, especially tax credits.. Manuscript profile -
Open Access Article
9 - Evaluation of Trade Rent-Seeking Effects on the Iran’s Economy through Dynamic Stochastic General Equilibrium Model
samaneh moghaddasfar seyed komail tayebi alimorad sharifiThe purpose of this paper is to design a Dynamic Stochastic General Equilibriummodel to examine the effect of trade rent-seeking on labor behavior in Iran's economy. The empirical results of the analysis of Impulse Response Functions indicate that, with the positive sho MoreThe purpose of this paper is to design a Dynamic Stochastic General Equilibriummodel to examine the effect of trade rent-seeking on labor behavior in Iran's economy. The empirical results of the analysis of Impulse Response Functions indicate that, with the positive shock of the trade revenue, the trade rent-seeking rate has increased, and the labors has reduced its productive activity. In order to examine more precisely the welfare cost of rent-seeking, by Lucas's compensated variation pattern has been shown to decrease a 10% in rent-seeking rate it is increased households welfare benefit by 6%. Therefore, it is suggested that the economic policymaker with the import tariff setting based on the economic and society’s livelihood needs restricts the bargaining by the owners of the profit. Manuscript profile -
Open Access Article
10 - Evaluation of Nominal Wage Rigidities' Sensitivity in Dynamic Stochasic General Equilibrium by Considering the Stock Price Bubbles
Kiomars sohaili shahram fatahi narges rahmanianiThe main goal of this study is to introduce a general stochastic dynamic equilibrium model with sensitivity analysis for the wage rigidity in Iran's economy using the seasonal data from 1995-2014. The results showed, capital market dynamics influence the real sector of MoreThe main goal of this study is to introduce a general stochastic dynamic equilibrium model with sensitivity analysis for the wage rigidity in Iran's economy using the seasonal data from 1995-2014. The results showed, capital market dynamics influence the real sector of Iranian economy. The monetary policy shock has a significant impact on macroeconomic variables and stock prices. The volatilities in stock prices helps to explain the Iranian business cycles. In the case of bubble in asset prices, credit constraint in firms was decreased and their opportunity cost decreases and causes a downward pressure on the marginal costs and finally inflation decreases. By assuming wage rigidity, possibility of wage adjustment with regard to monetary shock decreases and the reaction of labour and labour supply is been more strict. And changes in production is slower than when the wage perfect flexibility exist. Based on the results, using of the model with wage rigidity in order to better simulate the real world is suggested. Manuscript profile -
Open Access Article
11 - The Impacts of Tariff Cuts on the Iranian Labor Market: Case Study of Agricultural, Food, Apparel and Textile Sectors
mohammad mehdi barghi oskooeeAbstract In this paper, the effect of trade openness on the level of employment and the rate of wages has been evaluated by using a computable general equilibrium model. The results represent that through the cuts of general imports tariff, the percentage changes of to MoreAbstract In this paper, the effect of trade openness on the level of employment and the rate of wages has been evaluated by using a computable general equilibrium model. The results represent that through the cuts of general imports tariff, the percentage changes of total employment level as well as the employment level of unskilled labor will be increased. Likewise, by decreasing the percentage of skilled labor wages to follow more tariff cuts, wages inequality is improved. Also, it is clear that more tariff cuts on food, apparel and textile commodities will decrease the percentage changes of total level employment and unskilled labors. Since, the percentage changes of skilled labor wages will be increased in comparison with unskilled labors by increasing tariff cuts. Thus, it can be concluded that wider trade openness in the food, apparel and textile commodities leads to the increase of wages inequality. However, under the effect of the tariff cuts in agricultural commodities, the percentage changes of total employment as well as the employment of unskilled labors will be increased and by the decline of percentage changes of skilled labor wages, there is a decrease in the inequality of wages between skilled and unskilled labors. Manuscript profile -
Open Access Article
12 - The Welfare Computation under Different Fiscal Policies in an Optimal Monetary and Fiscal Policy Model Framework
hosein marzban zahra dehghan parviz rostamzadeh hamidreza izadiThe aim of this paper is computing the welfare under different fiscal policies by using of a Dynamic Stochastic General Equilibrium model in an optimal monetary and fiscal policy framework for the Iran's economy. In order to investigating the effects of using tax MoreThe aim of this paper is computing the welfare under different fiscal policies by using of a Dynamic Stochastic General Equilibrium model in an optimal monetary and fiscal policy framework for the Iran's economy. In order to investigating the effects of using tax instruments some different scenarios were provided. First scenario, the case with all taxes available, Second scenario, the case without consumption taxes, third scenario, the case of income and consumption taxes. The results indicate that the number of fiscal policy instruments available to the planner, plays an important role in the welfare changes in the optimal monetary and fiscal policy model. The minimum welfare loss occurs in last scenario and the maximum of welfare loss is related to second scenario. The proposal is that planner deal with determining polices in an optimum fiscal and monetary policy model, regarding available fiscal policy instruments and effects from economic shocks on welfare changes. Manuscript profile -
Open Access Article
13 - Inflation Behavior of Tradable and Non-Tradable Dynamic Stochastic General Equilibrium (DSGE) Approach
javid bahrami Behnoosh sadat Aghayan esfandiar jahangardAbstract The purpose of this paper is to study the factors affecting Tradable and Non-tradable inflation. Accordingly, Dynamic stochastic General Equilibrium model was used during the period 1991 to 2016. The results of the Impulse Response Functions (IRF) indicate tha MoreAbstract The purpose of this paper is to study the factors affecting Tradable and Non-tradable inflation. Accordingly, Dynamic stochastic General Equilibrium model was used during the period 1991 to 2016. The results of the Impulse Response Functions (IRF) indicate that non-tradable inflation is more responsive as a result of shocks. Monetary shock has had the greatest impact on non-tradable inflation, while Exchange rate and monetary shock have the greatest impact on tradable inflation in terms of initial effect and durability respectively. Based on the results, policy makers' attention to the components of inflation is suggested when economic decisions are made. Manuscript profile -
Open Access Article
14 - The Macroeconomic Effects of Structural Reforms in Iran's Retirement System
hoda jafari Abbas Najafizadeh Esmaieel Safarzade Gholam Ali HajiAbstract The purpose of this paper is to investigate the distributive and welfare effects of the transition from the current payment system to a partially funding system in Iran. For this purpose a six period OLG Models have been designed and simulated. The simulation MoreAbstract The purpose of this paper is to investigate the distributive and welfare effects of the transition from the current payment system to a partially funding system in Iran. For this purpose a six period OLG Models have been designed and simulated. The simulation results of the specified model show that, the consumption of all generations has increased and the saving of individuals and, consequently, capital accumulation in the economy is decline due to these reforms; the result of these changes is the decline in total production of economy. Based on these results and the widespread recession in the country's economy, it is suggested that policymakers do not resort to structural reforms and transition to funded system. Manuscript profile -
Open Access Article
15 - Evaluation of Home Bias in Consumption and Exchange Rate Fluctuations (DSGE Approach)
Mohammad Akbari mohammad javad sharifzade ali ranjbarakiThe aim of this study is to evaluate the result of the exsictance and change in consumer home bias on macroeconomic variables (such as consumption and inflation), in the event of exogenous shocks to the economy. In order to do so, seasonal data of the period 1394-1370 a MoreThe aim of this study is to evaluate the result of the exsictance and change in consumer home bias on macroeconomic variables (such as consumption and inflation), in the event of exogenous shocks to the economy. In order to do so, seasonal data of the period 1394-1370 and a dynamic stochastic general equilibrium model has been used. After designing the model, parameters of the suggested model are estimated by Bayesian approach. Reviewing the impulse response functions in the event of exogenous shocks (such as oil revenue shock and technological shock) shows that, with home bias exsictance in the model, inflation and consumption volatility will reduced due to the increased volatility of exchange rate. Based on the results it is recommended that, In order to control endogenous variables (including inflation), In the event of exogenous shocks, especially oil revenue shock, the exchange rate should be allowed to fluctuate more. Manuscript profile -
Open Access Article
16 - The Effect of Mark-up Shocks on Intensification of Stagflation in Iran’s Economy: DSGE Approach
Teymour Mohammadi abbas shakeri Masoume EmamikalaeeThe 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
17 - The Role of Tendency of Government Preference in an Optimal Fiscal Policy Model in the Presence of Agent Heterogeneity in A dynamic Stochastic General Equilibrium (DSGE) Framework
hamidreza izadiAbstract This paper examines an optimal fiscal policy model in the presence of agents heterogeneous in a dynamic stochastic general equilibrium framework. Therefore, the presence of heterogeneous agents in the model led MoreAbstract This paper examines an optimal fiscal policy model in the presence of agents heterogeneous in a dynamic stochastic general equilibrium framework. Therefore, the presence of heterogeneous agents in the model led to create limitation that will be call government preference. The role of these preferences and tendency of the Government to the poor or the rich group can change the results of optimal policies on the economy. By using a dynamic stochastic general model, the role of government preferences tendency was been surveyed. The results indicate that in these models, the role of government expenditure financing through available taxes in the policymaking system, is partly dependent on the government preferences tendency. On the bases of the results, it is suggested that separating the government preferences and tendency in relation to the poor and the rich. Manuscript profile -
Open Access Article
18 - Modeling the Effects of Green Tax on Health Sector Costs Using a Computable General Equilibrium Model
Mohammad Ali Torki Harchegani Nazar DahmardehAbstract The purpose of this paper is to consider the effects of green taxes on health costs in Iran. Accordingly, to achieve this goal, a computable general equilibrium model was used taking into account the interactions between energy, economy, environment and health MoreAbstract The purpose of this paper is to consider the effects of green taxes on health costs in Iran. Accordingly, to achieve this goal, a computable general equilibrium model was used taking into account the interactions between energy, economy, environment and health sectors simultaneously. The model was calibrated with data from the Social Accounting Matrix of 2011 and the endogenous variables of the model were calculated using the GAMS software using MCP technique. The results showed that by increasing the green tax rates, the health costs caused by the reduction of air pollution would be significantly reduced. Also, the financial impact on health indicators included mortality, morbidity and non-health effects of air pollution were estimated 62, 26.4 and 11.6 percent, respectively. Based on the results, implementation of green taxes can be reduced the health costs of air pollution. Manuscript profile -
Open Access Article
19 - The Effects of Mining Sector and Mining Industries Development on Government Revenue and Income of Households in Iran
davoud behboudi mohammad mehdi barghi oskoee Robab Mohammadi khaneghahiAbstract The aim of this study is to investigate the effects of an increase in the investment and productivity of the mining sector on government revenue and income of households in Iran. For this respect, a dynamic computable general equilibrium (DCGE) model and socia MoreAbstract The aim of this study is to investigate the effects of an increase in the investment and productivity of the mining sector on government revenue and income of households in Iran. For this respect, a dynamic computable general equilibrium (DCGE) model and social accounting matrix (SAM) for Iran for year 1390 is used. The results showed that increasing in mining sector investment and improving its total factor productivity positively affected government revenue and income of households in both urban and rural groups. The results also reveal that the development in the mining sector in Iran has the least effect on the income of rural households and the most effect on income of urban households. Based on the results, it is necessary for policymakers to adopt policies to increase investment and improve the total factor productivity of the mining sector. Manuscript profile -
Open Access Article
20 - Investigating Heckscher-Ohlin Theory in Iran-Germany International Trade: A Computable General Equilibrium Approach
sara pandazmay seyed Abdolmajid Jalaee Mohsen Zayandeh RoodiAbstract 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
21 - The Study of Exchange Rate Dynamics in Iran by Using Dynamic Stochastic General Equilibrium (DSGE) Models
mojtaba asghari ali haghighat masoud nonejad Hashem zareThe purpose of this paper is to examine the dynamics of exchange rates and the role of monetary and financial policies. For this purpose, we use a dynamic stochastic general equilibrium (DSGE) for a small open economy during the period of 1990-2016. The results show tha MoreThe purpose of this paper is to examine the dynamics of exchange rates and the role of monetary and financial policies. For this purpose, we use a dynamic stochastic general equilibrium (DSGE) for a small open economy during the period of 1990-2016. The results show that in different scenarios there are signs of Dutch disease as a weakening of the trade sector, the strengthening of the non-trade sector, the increase in prices in the trade sector, the reduction of prices in the commercial sector and the reduction of the real exchange rate. Based on the results, active financial policies are recommended to control exchange rate fluctuations. Manuscript profile -
Open Access Article
22 - اثر تغییرات بارندگی بر متغیرهای اقتصادی با استفاده از مدل تعادل عمومی
زینب معین الدینی حمید محمدی حسین محرابی بشرآبادیاقتصاد ایران به متغیرهای اقتصادی بسیاری وابسته است که در رشد و توسعه آن کشور نقش دارند. از طرفی، بارندگی یکی از عوامل مهم آب و هوایی است که روی برنامه های مهم اقتصادی از جمله بخش کشاورزی موثر است. تغییرات بارندگی بر متغیرهای اقتصادی بسیاری تاثیرگذار اس Moreاقتصاد ایران به متغیرهای اقتصادی بسیاری وابسته است که در رشد و توسعه آن کشور نقش دارند. از طرفی، بارندگی یکی از عوامل مهم آب و هوایی است که روی برنامه های مهم اقتصادی از جمله بخش کشاورزی موثر است. تغییرات بارندگی بر متغیرهای اقتصادی بسیاری تاثیرگذار است که در این مطالعه به ارزیابی بعضی از آن­هاپرداخته شده است. هدف از این تحقیق ارزیابی شوک­های بارندگی بر متغیرهای اقتصادی با استفاده از روش تعادل عمومی است که این شوک­ها شامل؛ بهترین سناریو، برای بیشترین بارندگی، بدترین سناریو برای کمترین بارندگی و سناریوی نرمال برای متوسط بارندگی می­باشند. یه منظور ارزیابی این تغییرات بر بخش کشاورزی، مجموعه ای از کالاهای تولیدی بخش کشاورزی به صورت جداگانه مطرح شد و برای سایر بخش­های اقتصادی با هم تجمیع گشت. نتایج تحقیق نشان داد که تولیدات بخش کشاورزی در بهترین سناریو به میزان 14 درصد افزایش یافته است. در بدترین سناریو میزان مصرف همه کالاها کاهش، قیمت همه کالاها به جز بخش صنعت افزایش و سرمایه­گذاری خصوصی و دولتی نیز تغییر یافته است. Manuscript profile -
Open Access Article
23 - تغییر یارانه های کشاورزی بر تولید و صادرات در ایران
حسین بدیع برزین محمد نوروزیان سید مهدی حسینی امیر تقوییارانه ابزاری است که دولت­ها به عنوان نوعی کمک مالی برای حمایت از بخش­های خاص اقتصادی استفاده می­کنند. امروزه یارانه در چندین کشور از جمله ایران به دلایل مختلف سیاسی و اقتصادی متداول است. این مطالعه به بررسی اثرات تغییر یارانه­های کشاورزی بر تولید و صادر Moreیارانه ابزاری است که دولت­ها به عنوان نوعی کمک مالی برای حمایت از بخش­های خاص اقتصادی استفاده می­کنند. امروزه یارانه در چندین کشور از جمله ایران به دلایل مختلف سیاسی و اقتصادی متداول است. این مطالعه به بررسی اثرات تغییر یارانه­های کشاورزی بر تولید و صادرات پرداخته است. برای این منظور، یک مدل تعادل عمومی قابل محاسبه (CGE) برای سال 1391 در قالب ماتریس حسابداری اجتماعی در سال 1379 به عنوان مبنای آماری مورد استفاده قرار گرفت. برای استخراج و حمل و نقل مدل از برنامه­نویسی غیرخطی استفاده شد. ماتریس حسابداری اجتماعی به بخش­های: کشاورزی، نفت و گاز، منسوجات، انرژی، صنعت و خدمات تقسیم شده است. سپس تأثیر یارانه­های کشاورزی و تأثیر آن بر متغیرهای درون­زا بررسی شد. نتایج نشان داد که کاهش یارانه­های کشاورزی، سطح تولید محصولات کشاورزی را به میزان 3/21 درصد کاهش می ­دهد در نتیجه قیمت­ها افزایش می­یابد که به نوبه خود باعث انحراف نرخ ارز واقعی از تعادل می ­شود که مانع از صادرات در این بخش می­شود. علاوه بر این، با کاهش یارانه­ها نرخ بیکاری افزایش می­یابد و رفاه کاهش می­یابد Manuscript profile -
Open Access Article
24 - The Effect of Agricultural Production Subsidies Reduction in the Economic Variables of Agricultural Sector of Iran: Multifunctional Assessment in CGE Model
Saeed Mehrjou Zahra Kiani-FeyzabadThe production of public goods like amenity value of the landscape, food security, preservation of rural communities and rural lifestyle, by agricultural sector is a subject that has been widely accepted by experts. However, in many policies and political analyses carri MoreThe production of public goods like amenity value of the landscape, food security, preservation of rural communities and rural lifestyle, by agricultural sector is a subject that has been widely accepted by experts. However, in many policies and political analyses carried out, solely the production of private goods by the agricultural sector is paid attention and the important function of public goods production is ignored. Given the importance of multifunctional debate of agriculture in policies analysis, this study examined the effect of agricultural multifunctionality in the simulation of the agricultural production subsidies reduction effects using Computable General Equilibrium (CGE) model. Simulation results of the effects of agricultural production subsidies reduction in terms of the multifunctionality showed that current practices to support the agricultural sector is non-optimal according to agricultural production and welfarereduction and the optimal level of supports with and without multifunctional agriculture is different. The simulation results showed that the welfare effects of economic reforms in Iran in the agricultural sector in terms of the multifunctionality will be positive. This is on condition that the welfare effects of agricultural reform in terms of the multifunctionality of agriculture are negative. Manuscript profile -
Open Access Article
25 - Analyzing the Effect of the Water Reduce Subsidies on GDP
Seyed Mahdi Hosseyni Javad ShahrakiThe objective of this work is to analyze the effects of decrease in water subsidies (increase in the price of the water) on various economic sectors in order to promote the conservation of this resource based on the actual price of water. But over the past decades, vari MoreThe objective of this work is to analyze the effects of decrease in water subsidies (increase in the price of the water) on various economic sectors in order to promote the conservation of this resource based on the actual price of water. But over the past decades, various subsidizing methods hold the cost of water down. On the other hand, the indiscriminate use of these resources led the government to impose enormous costs. Determining the economic impact of subsidy reform can be an essential factor in the determination of water price reform scenarios. The methodology that will be used to explore the implications on the economy will be a computable general equilibrium model (CGE), previously designed for an analysis of the direct taxes of the Andalusian economy (Cardenete and Sancho, 2003), but now enhanced and extended to include emissions of pollutants and the introduction of environmental taxes (André, Cardenete and Velázquez, 2005). This model has been further modified to introduce the variations in the water price that this study investigates the effect of water subsidy reform on the economy based on six scenarios using computable general equilibrium model. Results show that by decreasing subsidies, GDP will reduce in all economic sectors. Government can prevent the decrease in production by redistributing incomes. Manuscript profile -
Open Access Article
26 - Substitution of traditional money with virtual currencies and its effects on macroeconomic variables in the form of DSGE model
mohammad pouraghdam taghi torabi abbas memarnezhad teymor mohammadiThe purpose of this article was to investigate the replacement of traditional money with virtual currencies and its effects on macroeconomic variables with the approach of Dynamic Stochastic General Equilibrium (DSGE) models. For this purpose, the data of the period 201 MoreThe purpose of this article was to investigate the replacement of traditional money with virtual currencies and its effects on macroeconomic variables with the approach of Dynamic Stochastic General Equilibrium (DSGE) models. For this purpose, the data of the period 2018-2019 with seasonal frequency have been used. In the model designed in this article, it is assumed that due to the use of virtual money, a substitution between virtual money and traditional money will happen in people's asset portfolio. In this study, the shock caused by the price and volume of Bitcoin transactions is considered as an indicator for the demand for virtual currency. The results show that the shock from virtual currencies has led to a decrease in the demand for traditional money, in other words, there has been a substitution between holding traditional money and virtual money. In addition, the results indicated that due to the shock of virtual currencies, the amount of consumption in the economy has increased, and on the other hand, the amount of government income from royalties and money printing has decreased. Also, the results showed that the government's tax revenues have also decreased due to the trend of financial resources in the economy towards the demand of virtual currencies. Manuscript profile -
Open Access Article
27 - WHEN DOES GOVERNMENT DEBT CROWD OUT PRIVATE INVESTMENT IN IRAN? DSGE APPOACH
طیبه نسرین دوست کریم امامی سید شمس الدین حسینی کامبیز پیکارجوIn this paper, the effect of government debt crowd out on private sector investment in the Iranian economy is investigated, using the New keynesian model in a stochastic dynamic equilibrium model (DSGE) and the Bayesian estimation solution method during the years 1997-2 MoreIn this paper, the effect of government debt crowd out on private sector investment in the Iranian economy is investigated, using the New keynesian model in a stochastic dynamic equilibrium model (DSGE) and the Bayesian estimation solution method during the years 1997-2017 .Financing government resources is important, especially in recent years, when government issues bonds and it is necessary to apply shocks and examine the effects of government policy. In this regard, several policy shocks have been applied to the system and the response between fiscal and monetary policies has been examined. The results show that direct government policy interventions are made, the effect of crowd out government debt on private investment is greater than in conditions where there is a market system or at least less government policy.Contrary to the conventional view, no systematic relationships between real interest rates and private investment. Manuscript profile -
Open Access Article
28 - Government Spending and the Transmission Channels of Their Effects on Macroeconomic Variables: A DSGE Approach
انوشیروان تقی پور هما اصفهانیانAbstract In the literature, it is emphasized on the role of government spending in business cycle of economic activities, especially in the developing countries where public investment alongside with other government tools uses for economic growth stimulation. However, MoreAbstract In the literature, it is emphasized on the role of government spending in business cycle of economic activities, especially in the developing countries where public investment alongside with other government tools uses for economic growth stimulation. However, the effect of government spending depends on how the spending is financed. Oil in the Iranian economy plays a significant role, so that more than 45% of the budget is directly financed by oil revenue. Therefore, oil plays a major role in macroeconomic variables fluctuations. The aim of this paper is that while explaining the business cycle behavior of the oil income, its relation with some relevant macroeconomic variables including government expenditures, investment, growth, inflation and money is examined as well. To end this, we use a new Keynesian dynamic stochastic general equilibrium (DSGE) model to explain the transmission channels of oil revenues effect on macroeconomic variables through the government budget, public capital stock and monetary base channels. Manuscript profile -
Open Access Article
29 - The role of stock market shocks on macroeconomic variables in the form of dynamic stochastic general equilibrium (DSGE) model
Yazdan Gudarzi Farahani Babak Esmaili Morvarid Khajeh Vahid Mahboubi MatinAbstract The purpose of this paper was to investigate the impact of stock market shock on macroeconomic variables with the approach of Dynamic Stochastic General Equilibrium (DSGE) models. For this purpose, the data of the time period 1990-2021 with seasonal frequency MoreAbstract The purpose of this paper was to investigate the impact of stock market shock on macroeconomic variables with the approach of Dynamic Stochastic General Equilibrium (DSGE) models. For this purpose, the data of the time period 1990-2021 with seasonal frequency has been used. Modern financial systems usually include financing from the financial assets market in addition to financing the banking sector. The interaction between the stock market and aggregate activity has received much attention in the past decade. In this regard, traditionally, the stock price usually affects the stock market as the discounted current value of the expected stock profits. In this framework, stock prices are influenced by both production (through profits and dividends) and interest rates (through the rate at which future dividends are discounted). In this study, the capital market shock has an effect on the economy through the channel of consumption expenditures of households and investment expenditures of companies. The direct effects of stock price fluctuations on total spending have made the stock capital market known as a leading indicator in the economy. The obtained results indicated that the reaction of macroeconomic variables to the demand shock was more intense than the shock from the supply side, and only the variables of tax revenues and bank facilities showed a negative reaction to the demand shock in the conditions of the supply shock. Also, the amount of employment has shown a positive reaction in response to the shock on the supply and demand side in the capital market Manuscript profile -
Open Access Article
30 - Investigating the effect of electronic receipt and payment tools on reducing government and bank costs
Behzad Alinejadi Ahmed Sarlak Cambys HejbarKianiAbstractToday To continue their economic life, financial institutions are required to adopt e-banking methods in order to be more competitive, reduce operating costs, increase profitability, and improve the quality of customer service. Electronic services and the develo MoreAbstractToday To continue their economic life, financial institutions are required to adopt e-banking methods in order to be more competitive, reduce operating costs, increase profitability, and improve the quality of customer service. Electronic services and the development of e-banking are a big step towards reducing costs, reducing government spending and even controlling cost. This study aims to investigate the effect of e-banking in reducing banking operating costs and reducing government spending by using a random dynamic general equilibrium and considering the economic sectors of households, enterprises, government and monetary authority and information of private and public banks. To study in the period of 1375-1396. The results indicate that the use of electronic payment and receipt tools will lead to further reductions in bank costs, as well as lower energy prices and government spending. Manuscript profile -
Open Access Article
31 - Optimal inflation rate measurement for minimizing economic inequality: The dynamic stochastic general equilibrium approach
Alireza Azizi Hashem Zare Abbas Aminifard Jalil Khodaparast ShiraziAbstractFair distribution of income in countries is one of the development indicators of each country. Therefore, it is necessary to adopt appropriate policies for its improvement in order to identify the effect of effective factors on it. In this study, the importance MoreAbstractFair distribution of income in countries is one of the development indicators of each country. Therefore, it is necessary to adopt appropriate policies for its improvement in order to identify the effect of effective factors on it. In this study, the importance of determining the optimal inflation rate with the aim of minimizing income inequality by using the randomized dynamic equilibrium method in Iran between 1997 and 2020 is discussed. The results of the research indicate that the inflation rate is optimized to be 3.74 percent, so that the increase or decrease of inflation of this amount will increase income inequality. Therefore, the government should target its inflation rate with the aim of attaining the minimum inequality, so that the probability of fluctuations (increase or decrease) in inequality will exist. Manuscript profile -
Open Access Article
32 - The effects of electricity tariff liberalization on economic growth in the form of calculable general equilibrium model (CGE)
Aliakbar Mehrabian Abbas Memarnezhad Seyedshamsoldin Hosseini Farhad GhafariThe purpose of this study was to investigate the effects of electricity tariff liberalization on value added and growth of different economic sectors based on designing a general equilibrium model that can be calculated for Iran and using the social accounting matrix in MoreThe purpose of this study was to investigate the effects of electricity tariff liberalization on value added and growth of different economic sectors based on designing a general equilibrium model that can be calculated for Iran and using the social accounting matrix in 2011. The government intended to organize the use of energy subsidies in addition to establishing justice in society by implementing the law on targeted subsidies. In this study, the policy of subsidy reform and electricity tariff liberalization has been studied in the form of two scenarios. The first scenario was a 50% reduction in subsidies paid in the electricity sector and the second scenario was the complete elimination of subsidies in the electricity sector. The results of this study showed that the change in electricity tariffs has led to an increase in value added growth in various economic sectors in both scenarios. Meanwhile, the sectors of oil and natural gas, food and electricity supply, water and gas have shown the highest growth in the second scenario compared to the first scenario, and the sectors of construction, wood and paper, non-metallic minerals and other industries. Manuscript profile -
Open Access Article
33 - Measuring the Impact of Tariff Rate Reduction on Automobiles Industry on Import and GNP for Iran: CGE Model
M. Rezaei R. Khoshakhlagh M. VaezConsidering tariff policy in trading has been especially interested for countries particularly developing ones in recent decays. The primary aim of tariff was to protect domestic industries as well as improve and equilibrate tariff payments, but today tariff is one of t MoreConsidering tariff policy in trading has been especially interested for countries particularly developing ones in recent decays. The primary aim of tariff was to protect domestic industries as well as improve and equilibrate tariff payments, but today tariff is one of the most important tools in international trade policy with an influence on forms and volumes of a country's business with others. Considering economical effects of custom tariff in international trade, every country can benefit from this tool in accordance of their national goals. In the present study, the effect of tariff reduction on GNP, automobiles import and other economical sections was evaluated based on the computable general equilibrium CGE model for Iran. This model in planned based on the matrix of MCM data1380. The results suggest that automobile for other sections. Also, GNP and economic welfare were increased. In addition, tariff reduction caused automobile import reduction and import increase. Also, it caused an increase in GNP Manuscript profile
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