فصلنامه پژوهش های پولی - بانکی
پیاپی 54 (زمستان 1401)

Agriculture has a special place in the country's economy. Providing suitable circumstances such as favorable land and air is an important issue that is not easily achieved in all parts of the world. Iran is one of the countries in the world that is very rich in this matter. Accordingly, it is necessary for the officials to do their best to achieve this task better. The Islamic banking law has emphasized this issue and has introduced the share crop agreement as one of the alternative agreements in the banking system. As an intermediary institution between the owner and the farmer, the bank can help greatly in facilitating this matter. The problem is that this agreement has not been implemented in the banking system since the beginning of the approval of the banking law and there are reasons for the non-implementation of this agreement, despite its great importance, which needs to be analyzed. In this paper, which has been prepared with a library research method, an attempt has been made to analyze the cop share agreement first from the point of view of jurisprudence, and then address the challenges raised in the non-execution of this agreement, and then find a suitable solution to solve it. One of the innovations of the existing research is the mediation and creation of the secondary crop share agreement for the bank which causes the bank's position to change in the current law from the role which has in the crop share agreement to crop-sharer and agent in two crop share agreements.

In this research, first business and credit cycles are extracted with a non-linear approach and in the form of Markov switching method, then the feedback of economic cycles from each other in the form of a vector autoregression model with regime change (MS-VAR) is comprehensively analyzed and will be reviewed. The data of this research have been collected quarterly for the years 1379 to 1399 in the economy of Iran. The results of the research indicate the existence of a non-linear and asymmetric relationship during different regimes between the variables of economic growth rate, growth of banking facilities and bank defaults, and also the results of the model estimation indicate that the imposition of a positive shock on the default rate and the growth rate of banking facilities causes There is no reaction in the economic variables and only sudden changes in the economic growth result in the reaction of the default rate and growth rate of credit facilities. Examining the relationship between the cycles has shown the alignment of the business and credit cycles and the non-alignment of the business and credit default cycles.

The taxation on bank deposits interest is an issue that has attracted the attention of economic policy makers in the tax domain. One of the important factors in taxer is the existence of appropriate tax bases, one of the good features of the tax base is its accessibility. In this paper, with using a dynamic stochastic general equilibrium model, the possibility of tax on interest deposits and its impact on macroeconomic variables are analyzed with seasonal data from 1991 to 2021. With the imposition of 10% tax rate on bank deposits interest, has decreased of production variables by 0.5%, capital stock by 1.12%, investment by 2.57%, other taxes 0.45% government expenditures by 1.22 %, volume of money by 1.41% and respectively, in addition it has increased loans by 0.27%, deposits by 0.85%consumption by 0.47% , inflation rate by 0.98%,. The result of the research shows that the application of this type of tax depends on the level of development of the financial system, the size of the government and the economic stability of the country. Therefore, due to the decrease in production when tax on deposit interest is applied, a suitable platform should be provided for the imposition of this tax in Iran.

Bank facilities are known as one of the most important ways of financing economic enterprises to increase production and employment; So that nearly 90% of financing in Iran is done by banks. However, the effects of bank facilities on macroeconomic variables are controversial due to the creation of liquidity or the deviation it can have from production. Therefore, the aim of this study is to investigate the effects of bank facilities on macroeconomic variables using the Autoregressive Distributed Lag (ARDL) during the period of 1978-2022. The results of the research showed that the effect of bank facilities on the variables of economic growth, non-governmental sector debt to banks, liquidity and capital stock was positive and insignificant on the government sector debt to banks. Therefore, since the main purpose of banking facilities is to increase production and employment, granting these facilities is expected to lead to favorable results in the economy. However, if there is not enough supervision on how to pay and spend it, it can increase the volume of money and liquidity (according to the research findings) and lead to economic instability.

In this study, in order to investigate the impact of financial development and financial market fragility on the effectiveness of inflation targeting on the inflation rate, dynamic principal component analysis has been used to investigate the financial development index, and for The First Time, the price-to-earnings ratio (P/E) has been used as an index of financial market fragility. The findings indicate two prominent features regarding the impact of the inflation targeting monetary regime and the fragility of the financial market on the inflation level. First, the effect of the financial market fragility on the level of inflation has been "dependent on the monetary regime" governing the selected economies. Secondly, the inflation level implication of the inflation targeting monetary regime is "dependent on the state" of financial market fragility. The interaction of these two features, we see a kind of "threshold feature" regarding the influence of this monetary regime on the inflation level. More to the point, as to the financial market fragility, we see a kind of positive association between the level of inflation and the increase in the fragility of the financial market. Meanwhile, this positive association is more intense in the countries that adopt the inflation targeting monetary regime. However, concerning the cyclical risk of financial market fragility, the results generally show that if the financial market fragility is more than the market expected trend, it has a decreasing effect on inflation and the reverse holds true asymmetrically in terms of size.

An inverse and simultaneous change in financial depth and the interest rate have started from 1387 in the Iranian banking system. The phenomenon was coincident h a widespread decline in bank health indicators. Using the bank-level data from 1386 to 1392, in this study, we try to find a causal relationship between a bank's health and its lending power in line with lending channel literature. We quantify bank health as a multidimensional concept representing liquidity, nonperforming loans, capital, profitability, and debt to central bank ratios; and use bank sanctions as an exogenous shock to banks. Our findings show that loans grow faster in banks with higher liquidity and lower nonperforming loan ratios, such that a one percentage point in these ratios respectively changes loan growth rate by 0.04 and -0.05 percentage point on average. Additionally, we also show that the loan growth rate's sensibility to bank health indicators weakened after the sanctions' shock. Our results are robust to changes in the definition of regression variables, the set explanatory variables, and estimation methods.