جستجوی مقالات مرتبط با کلیدواژه « نرخ تورم » در نشریات گروه « مالی »

Investigating the effect of monetary policies on macroeconomic variables through the channels that transmit these policies is one of the most important topics in macroeconomics, because mastering the mechanisms that transmit these policies and the factors that affect them play a significant role in adopting effective monetary policies and increasing the efficiency of these policies. According to Neoclassical and Keynesian economists’ viewpoints, monetary policies affect the level of total demand and subsequently inflation rate and production through four channels of interest rate, asset prices, exchange rate and credits, and among these, the interest rate channel is more important because of the mutual effect it has on the other three channels. But since the most important component in the implementation of monetary policies is the banking system, the quality and efficiency of the transfer of these policies largely depends on the conditions of that. This study, therefore, by using the theoretical analysis method, tries to answer the following questions: what are the reasons for the formation of imbalance in the banking system in terms of the theory and the basics of Islamic banking? And in the condition of banking imbalance, how could we explain the effectiveness of the monetary policy tool of interest rate on the management of the inflation variable? To answer this, first of all, the mechanisms of monetary policy transmission channels are elaborated in the condition of the banking system  soundness, and then by examining and explaining the reasons for creating imbalances in the banking system from the operational aspect and from the perspective of Islamic banking, the manner of disrupting the transmission channel mechanism of the monetary policy of the interest rate to the inflation rate when there is an imbalance in the banking network, and the final result of the quality of the application of this policy to the inflation variable in the mentioned conditions are theoretically analyzed.

The main problem is to investigate and compare the impact of government capital expenditures on stock returns in the framework of the crowding-in effect in two groups of countries with a high level of development and countries with a medium level of development. In this regard, by using Fisher's theory and empirical studies, the stock return rate model was defined for them and estimated using the balanced panel data technique. The results confirmed the positive effect of Crowding-In on the return of the stock price index in both groups of the study countries. In addition, the results showed that the effect of Crowding-In on the performance of the stock price index is not the same in both groups of study countries and it is more in countries with a medium level of development.

Investigating the effect of monetary policies on macroeconomic variables through the channels that transmit these policies is one of the most important topics in macroeconomics, because mastering the mechanisms that transmit these policies and the factors that affect them play a significant role in adopting effective monetary policies and increasing the efficiency of these policies. According to Neoclassical and Keynesian economists’ viewpoints, monetary policies affect the level of total demand and subsequently inflation rate and production through four channels of interest rate, asset prices, exchange rate and credits, and among these, the interest rate channel is more important because of the mutual effect it has on the other three channels. But since the most important component in the implementation of monetary policies is the banking system, the quality and efficiency of the transfer of these policies largely depends on the conditions of that. This study, therefore, by using the theoretical analysis method, tries to answer the following questions: what are the reasons for the formation of imbalance in the banking system in terms of the theory and the basics of Islamic banking? And in the condition of banking imbalance, how could we explain the effectiveness of the monetary policy tool of interest rate on the management of the inflation variable? To answer this, first of all, the mechanisms of monetary policy transmission channels are elaborated in the condition of the banking system soundness, and then by examining and explaining the reasons for creating imbalances in the banking system from the operational aspect and from the perspective of Islamic banking, the manner of disrupting the transmission channel mechanism of the monetary policy of the interest rate to the inflation rate when there is an imbalance in the banking network, and the final result of the quality of the application of this policy to the inflation variable in the mentioned conditions are theoretically analyzed.

Floating rate issuance is one of the financial innovations that has attracted the attention of the ‎public and private sectors in recent decades. Basically, financiers are looking for access to less ‎expensive financial resources, and investors are also looking for high-yield, low-risk investment ‎opportunities. Accordingly, the design of this tool should be in a way to bring the utility of both ‎parties to a satisfactory point, which is provided according to the conditions, expectations and ‎economic policies. When the government enters as an economic policy maker, this issue takes on ‎other dimensions, so the issue of economic management of the country, management of ‎government debts and liabilities, the amount of money and liquidity, formation of interest rates in ‎the economy and its relationship with budget deficits, management of economic cycles and its ‎determination is of great importance that should be considered in the design of this tool. Treasury ‎inflation protected securities are a type of floating-rate securities that are often issued by ‎governments, so they need to be studied more carefully in order to be more localized. The present ‎article uses a descriptive-analytical method to examine the advantages and disadvantages of ‎issuing securities for the government. The results of this study show that the economic effects of ‎Treasury Inflation Protected Securities are very different from floating-rate securities, and given ‎the current economic situation of the country with high and variable inflation rates, treasury ‎inflation protected securities are recommended.‎

The aim of this study is to investigate the effect of Economic Uncertainty on Earnings Response Coefficient of listed Companies in Tehran Stock Exchange. These Four dimensions of Economic Uncertainty in our tests: GDP growth, Inflation rate, Exchange rate and Interest rate. Using ARCH and GARCH for this purpose one hypothesis developed and data on the 142 companies in Tehran Stock Exchange for the period of 1387 to 1396 were analyzed. The regression model using two-factor Fama and McBeth reviews has been tested.The results showed that the concentration of Economic Uncertainty (GDP growth, inflation rate, exchange rate and interest rate) has significant negative impact on Earnings Response Coefficient.

The aim of this research is to answer this question:” How is the effect of inflation rate on finance (debt financing and equity financing)?” Based on research literature, many micro and macro factors affect financing and in this research, cost of capital rate, financial risk, proprietary ratio and total return rate are moderating variables. The population of research is all company listed in Tehran Security Exchange between the year 1381 and 1386. Sample is equal to population. For data analysis, by SPSS, we use simple and multiple regressions. The results show that inflation affects more on debt financing in comparison with equity financing. Also for debt financing, financial risk and proprietary ratio respectively have the most and least effect and for equity financing, financial risk has the most and total rate of return has the least effect.

One of the most important macro-economic variables, the interest rate facilities that has an important influence on the inflation indicator. So that facilities with higher profits, cost of capital increases, which will lead to increased production costs. According to the theory of cost push inflation, increasing production costs, the total supply curve moved to the left and provides an increase in inflation. In this research; first, we evaluate facilities interest rate beetwen 1375-86 and inflation indicator rate by using Vector Autoregressive Regression (VAR), Auto Regressive Distrebuted Lag (ARDL) and Dichey - Fuller test on the Schwartz - Bayesian ciriterion in long period term and for estimating relationship in these elements of short term period; we use Error correction model. correlation method is used in this research and Data gathering is in bibliotheca and documantaries. As a result; it implies according to statistics experiments; relation between facilities interest rate and inflation indicator of long term period is expressive and to reduction in facilities interest rate concludes decrease in inflation indicator. in short term period this relationsheep is meaningless and reduction in facilities interest rate has a negligible trace in Iran economy.

This paper examines the main macroeconomic variables, including inflation and interest rates will. Some policymakers and experts believe The increase in interest rates increase production costs and consequently increase the price level and inflation. On the other hand, according to economic theory, Increase in interest rates will rise in inflation rate. The aim of this research is to study relationship inflation rate with one year short term interest rate, Three-year medium-term interest rate and Long-term interest rates(5 years) by using Least squares estimation methods and econometric models Fisher is a particular model. Purpose of interest rate in this study, Bank deposit interest rate is to be announced by the Central Bank of Iran And the inflation rate based on the total index of consumer prices for goods and services in urban areas of Iran where the annual percentage change in prices (inflation) has been calculated by the Central Bank, Is extracted. Data used in this study for a period of 18 years (1991- 2009) is. Results indicate a significant relationship between inflation and interest rates be one year. And the inflation rate with The three-year and five years interest rate Not found a significant relationship.

One of factors causing administrative corruption in country’s administrative organizations is way of their budgeting that in spite of recommendations related to national monetary fund and subject-matter legal necessities on the basis of changing of budgeting system from traditional to operational hasn’t already been achieved and can be considered as an administrative misbehavior. Present research, following discussion about is one of problems of public section is that means budget. In this research, it has been tried to deal with this debate that how budgeting in governmental organizations can be done? And weather method of performance based on budgeting has been done or not regarding to government’s legal duties. In this research, in addition to investigating and analysis of performance based on budgeting’s procedure in periods of 2006 up to 2008 with previous similar duration in country’s registration organizations throughout the country. In the research after collection of agreements and extraction of data using of Excel and SPSS softwares, research’s hypotheses are analyzed statistically and experimentally regarding to validity’s costs, expense of activity’s unit and total cost and amount of activity. Obtained results of research showed that there is no difference between procedure of traditional and operational budgeting, traditional budgeting (period of years from 2003 up to 2005) and operational budgeting (period of years from 2006 up to 2008 ..... .

The purpose of this paper is to investigate the effect of inflation targeting on inflation rate in different countries around the world. To do so, the published data by the International Monetary Fund in 2007, have been used. The research findings as a result of testing the mean comparison, (one for all countries, another for each countries individually during 1975-2007), indicate that this policy reduce the inflation rate in selected countries. Therefore using this policy in other countries which have the prerequisites such as central bank independence is suggested. Also inIran improving central bank independence to adopt inflation targeting for long-run, emphasized.

The study of economic variables impact on performance of the stock exchange has always been considered by economists and financial researchers. In this research, the impact of three major economic variables, namely as money stock, inflation rate and gross domestic product (GDP) on the stock exchange return during 1990 to 2002 has been studied. The result of applying Vector Auto-Regression (VAR) and Vector Error Correction Model (VECM) shows a positive and meaningful relationship between inflation rate and stock exchange return. However, there is no meaningful relationship between variables of money stock, GDP and stock exchange return.