فصلنامه سیاستهای مالی و اقتصادی
سال هفتم شماره 27 (پاییز 1398)

The existence of tax concessions (tax exemption, tax holiday, allowances …) provide the possibility of reducing tax liability via special tax provisions or regulations in tax laws  for some taxpayers, hence government loses  some tax revenues. Therefore, the forgone tax revenues resulting from some of the tax concessions for particular taxpayers, regions and sectors of an economy, are considered as tax expenditures. However, tax expenditures can be considered as a policy instrument for achieving the special economic goals, but do not appear in a regular budget and impose a lot of financial pressure on it.  In the recent decade, this reason causes tax expenditures are estimated and reported in a number of countries. The findings of the present study, which are derived from descriptive-analytic method with emphasis on comparative comparisons of tax expenditures in selected countries, indicate that in all of them, tax expenditures are studied with the aim to increase financial transparency of government and are calculated by using forgone revenue method. In compiling tax expenditures reports of the most countries tax expenditures are defined as a deviation of a specified benchmark tax system and they are presented independently or in related to the regular budgeting process.

In this study the autoregressive distributed lag model and error correction model to estimate Hazard function is used during the years 1377-1394. The results show that in the short term and long term there is substitution between electricity and natural gas in the domestic sector. But the price elasticity of demand relative to the price of electricity is less than 5.0, this result indicates that changes in electricity prices has little effect on the consumption of natural gas. The elasticity of natural gas demand in the long run than a higher price than the short term and in both cases is estimated inelastic. In the long run price elasticity of natural gas is estimated to be 0.71, this variable among other variables have the greatest impact on natural gas consumption in the domestic sector. Shows that the income elasticity of natural gas in the short and long term for numerous essential goods, The results showed that the coefficient of error correction in the short term -0.72 obtained and confidently expect very significant and mark it as negative. This factor represents the speed of adjustment is relatively high. The imbalance factor of 72 percent for natural gas is adjusted in each period. In the end we can say that the actual electricity and natural gas prices and tariffs, the creation and standardization requirements for insulation of buildings as well as gas appliances, consumer paradigm shift in the culture of consumption and promote the correct use of natural gas can appropriate solutions for reduce natural gas consumption in the domestic sector are balanced.

The phenomenon of tax evasion has been always one of the most major issues among economists due to it's devastating effects on the economy and the process of economic development. Many scholars have always sought to provide solutions to reduce and limit tax evasion. The introduction of the VAT system can be seen as a milestone in the area of economic transparency and tax evasion, which refers to counteracting this phenomenon through reforming the structure of the tax system. In the present study, the effect of VAT on the tax evasion phenomenon has been discussed. For this purpose, the research hypothesis has been tested for data from 28 OECD countries in the period from 2013 to 2002 using generalized moments method. The results of the estimation show that by expanding the value added tax, the tax evasion phenomenon also decreases. Also, agricultural value added has a positive effect on tax evasion, while the effect of inflation and rule of law are negative. Therefore, in order to deal with the phenomenon of tax evasion, attention to institutional factors, along with attention to economic factors such as the structure of the tax system, is proposed.

According to the International Organization for Transparency International, in 2017, Iran's ranking on the "Corruption Perceptions (CPI) Index" among the 180 countries surveyed was 130, and the country's score was 30 out of 100. Also, our country's score in 2016 was 29 in the index and 131 in the ranking, which is calculated from 176 countries. According to information from recent years, the general state of our country is not suitable and there is no particular positive change, and the perception of corruption due to this index (CPI) remains in its unfavorable situation with minor changes. Today, solutions are being used to fight corruption in different countries, one of the most important of which is managing conflicts of interest. The purpose of managing conflicts of interest is to eliminate all the administrative, regulatory, judicial, and divisive measures necessary to prevent conflicts of interest and to eliminate or minimize the effects of conflicts of interest on the unavoidable benefits. The three general strategies for managing conflicts of interest are: Limit / Prohibition strategies, Game Change Strategy, and Transparency and Public Oversight. Meanwhile, "transparency", which is the standardization of government information to people in a standardized format to provide public monitoring and accountability, is an optimal strategy that has successful experiences in different parts of the world. Transparency of government budget, transparency of property and property of officials, transparency of contracts are among the areas in which successful international experience exists in these areas, and various countries have thus reduced their corruption. Given the serious need of the country today to fight corruption and reduce it, and with the use of successful global experiences in this area, suggestions can be made to Iran.

The housing sector is one of the most important economic sectors in terms of household expenditure and GDP and its role in changing macroeconomic index such as economic growth and employment. Given the importance of the housing sector in the economy and there is a lot of volatility in this sector, in this study, the factors affecting the price of housing has been Including stock indices, liquidity, the price of gold and shocks caused by the housing market countries, United Arabic Emirates, Turkey, Greece and Cyprus will be discussed. Also, the convergence of housing prices between Iran and selected countries will be evaluated. To analyze the effect of shocks from Structural Vector Auto Regressive and housing price index for the convergence Iran and selected countries Johansson model is used by quarterly data from 2007 to 2015. Data is extracted from the stock exchange database of Iran, Central Bank of selected countries. The results that show the housing shocks in selected countries don't impact on the price of housing; Liquidity shocks is effective and stock index shocks and gold prices have no effect on Iran's House Price Index. The share of housing prices in selected countries fluctuations of housing prices forecast error in the short-term is up, but in the long run is reduced. Controlling the volume of liquidity and orienting towards production are effective policies in the short term to stabilize housing prices. The findings also confirmed the convergence relationship between Iran and selected countries in the long-term housing price index. This reflects the contagion of the crisis in the housing market of the countries. Therefore, it is necessary to rebuild the housing market against crises.

This study examines the relationship between corporate social responsibility and Influential Institutional Ownership on the value of companies admitted to the Tehran Stock Exchange during the period of 2011-2017. By screening, 152 sample companies were identified. To test the hypothesis of the research, linear regression has been used based on panel data. The findings of this research show that corporate social responsibility and high-impact institutional ownership have a positive and significant relationship with the company's value. Also, high institutional ownership has a significant and positive impact on the relationship between CSR and company value. In fact, the impact of CSR on the value of a company with a level Influenced institutional ownership has  changed and the company's value increases.This study examines the relationship between corporate social responsibility and Influential Institutional Ownership on the value of companies admitted to the Tehran Stock Exchange during the period of 2011-2017. By screening, 152 sample companies were identified. To test the hypothesis of the research, linear regression has been used based on panel data. The findings of this research show that corporate social responsibility and high-impact institutional ownership have a positive and significant relationship with the company's value. Also, high institutional ownership has a significant and positive impact on the relationship between CSR and company value. In fact, the impact of CSR on the value of a company with a level Influenced institutional ownership has  changed and the company's value increases.

Nowadays in most countries, granting microcredits has been put forward as a suitable strategy for creating new job opportunities, fighting poverty, and enabling people in low-income regions; some countries have acquired significant success in this issue.This study deals with the effects  Some of  macroeconomic variables such as “ inflation rate , employment rate, GDP per capita rate, family’s per capita income rate and micro-credit banking rate “  on distributive indexes of income in the country’s states(Northern Provinces bar) during the time period 1387-1392 through data panel (fix Effects). The method of the study is correlation-   that is categorized into descriptive studies. And emphasizes the role of micro credit facilities.The results of the study show that , Household per capita income growth rate, employment rate and the rate of growth of micro credit facilities in the northern provinces bar have a significant negative impact on the Gini coefficient and improved  income distribution, and the rate of inflation has positive effect on Gini Coefficient i.e. it has made increase of inequality of income. Also micro – credit deflection from  its optimal values, will have positive effects on income inequalities..

Banks are an essential elements of the financial discipline in many countries, and as financial intermediaries, they play a crucial role in achieving the growth and financial development of each state. Banking industry development and its efficiency can also lead to long-term economic growth and on the contrary, lack of banking network development may cause a decline in economic growth.Regarding the role of banks in financial markets and countries economy, identification of factors affecting the stability, the bank's financial performance and the magnitude impact of each element is of great importance. The stability and performance of banks cause an increase in their profitability and also the public welfare level.Meanwhile, the stability of the banking system as the core feature of the monetary-financial sector needs special consideration. Therefore, in the last two decades, financial stability has been considered as one of the main goals of the economic discipline by many policymakers and thinkers. This paper studies the simultaneous effect of liquidity risk and credentials risk on the stability of legitimized banks in Tehran Stock Exchange. The statistical population is the annual data of banks accepted in Tehran Exchange Stock from 2010 to 2017. The methodology used for model estimation is the dynamic data panel. The results of the model estimation show that the simultaneous effect of liquidity risk and credit risk variables on the banking stability index is negative and significant. The impact of bank scale and the fund ratio on bank stability index is positive and significant. Therefore, concerning the banking stability and risk management in banks play an essential role in monetary and financial markets.