فصلنامه پژوهش های پولی - بانکی
پیاپی 50 (زمستان 1400)

The economic value added of banks is a new approach to assessing the performance of banks that, while not having accounting problems in profit and loss statements, can predict the financial health of banks. Unlike developed countries, the most important measure of financial performance in Iranian banks is net profit, but modern financial theory seeks to maximize value rather than maximize profit. The lack of a culture of using value-based financial performance metrics has neglected important and irrefutable concepts such as capital expenditures and opportunity costs. In addition, this criterion is influenced by various factors that can have a positive or negative effect on it. Therefore, it is important to measure this criterion and examine the effect of various factors on it in the Iranian banking network.

In this paper, the effect of various financial and non-financial factors on the economic value added of banks, during the period 2006-2018, is investigated using panel data approach. Experimental literature has been used to identify the factors affecting banks' economic value added.

The results show the distinct behavior of economic value added in different cycle periods. In addition, improving risk management in the banks and improving banks' financial health has a positive effect on the economic value added of the Iranian banks. An examination of the combination of banks' asset and debt portfolio indicates that banks' approach to raising earning assets can help improve banks' economic value added.

The financial ratios approach in evaluating the performance of the Iranian banking network, while having accounting problems, cannot adequately express the health status of a bank. Therefore, in addition to applying the financial ratios approach, it is also important to measure the economic value added of banks as a new financial approach to evaluate the performance of banks and to evaluate the most important factors affecting it.

How to move from national accounting standards to international financial reporting standards has been a challenging issue for countries or institutions that adopt these standards around the world. The purpose of this paper is to identify IFRS requirements for implementation in Iranian banking industry as well as the factors influencing the transition from national accounting standards to International Financial Reporting Standards (IFRS). After conducting "systematic review", a questionnaire with 20 questions was designed and sent to four groups of "banks", "bank auditors", "supervisory institutions" and "academic experts and researchers" in order to collect the opinions of experts and financial reporting staff of banks. rate of return is 90% and data were analyzed using fuzzy logic. The findings show that the complex requirements of IFRS for implementation in Iranian banking industry are the measurement of expected credit losses, measurement of fair value, and measurement and disclosure of risks. Implementing these requirements without proper and purposeful planning is not desirable and requires the provision of the necessary infrastructure. Effective and efficient oversight of the supervisory authority, development of appropriate guidelines, formation of steering committees and coordinators of IFRS implementation, schedule of IFRS implementation requirements, establishment of a super-coordinating structure consisting of supervisors and trustees, reform of tax laws and regulations, corporate governance and Holding training and orientation courses is one of the most important actions that should be considered by respondents in planning the transition period.

The aim of this paper is the analysis of trade shocks on tradable and non-tradable employment. To do so, a dynamic stochastic general equilibrium model is designed for Iran economy and the sectors of model are tradable, non-tradable and import. The variables related to foreign trade sector are nominal and real exchange rate, the law of one price gap and terms of trade. The structural parameters of this model is estimated by using Bayesian method and quarterly data on the 1383 – 1398 period. Based on estimation results, occurring a positive terms of trade shock leads to an increase in the employment of import sector but reduction in tradable and non-tradable sectors employment. Moreover, a positive shock of real exchange rate leads to a reduction in the employment of all sectors. Thereby, the policy recommendation of recent study is that the central bank should adjust its policy tool actively in responses to trade and exchange rate shocks in order to minimize its negative effects on the output and employment.

The aim of this study is to estimate the known statistical characteristics of nominal price stickiness in the Iranian economy during the years 1390 to 1399 and at different commodity levels of microdata of consumer price index (including product category, Coicop commodity group, and the whole economy) and thus the stickiness between categories and product groups are also compared. For this purpose, 421 categories have been selected as a sample from the database of the Consumer Price Index Statistics Plan of the Statistics Center of Iran. This sample is about 93% of the number of consumer basket items in the base year 95 and 67% of consumer expenditures in the base year 90 covers. In this study, the nominal price stickiness index is estimated via the duration and frequency approaches. According to the results, this index is estimated at 29% based on frequency approaches in the whole economy and about 2.99 months based on the Duration approaches, which is less than in developed countries. Also, the comparison of indicators at the level of items and Coicop groups shows the existence of heterogeneity in the stickiness of nominal prices. The group of food and beverages and group of housing, water, electricity, gas, and other fuels have the lowest, and the group of communication and education have the highest price stickiness.

The issue of uncertainty and its economic impact is one of the topics that economic researchers have considered in recent years. In conditions of uncertainty, the decision of economic units to produce, consume and invest, etc., is different from normal conditions. This study aims to determine the index of economic uncertainty for Iran according to the channels of its impact on the economy. Therefore, first, the index extraction ratio has been used to measure economic uncertainty. Then, the effect of this index on macroeconomic variables, including private sector consumption and fixed capital formation by the ARDL method, has been investigated. The result is that uncertainty shocks have a significant effect on these variables.

Despite the empirical evidence of the difference in the degree of price stickiness of goods and services, in the new standard Keynesian models, the same price stickiness is considered for all firms producing intermediate goods. In recent years, a new generation of pricing models has been introduced to simulate the heterogeneous price setting behavior in which, unlike standard pricing models, there are differences between firms in terms of degree of price stickiness as well as the type of nominal rigidity. It is important to examine the existence of heterogeneity in the pricing behavior of firms in order to analyze the effects of monetary policy accurately. In this study, the effects of monetary policy on key macroeconomic variables have been investigated, considering the differences in the degree of price stickiness and heterogeneous price setting behavior. Based on the results, the multi-sectoral model, which is a combination of four pricing models (including Calvo model, Calvo model with partial indexation (hybrid), sticky information and fully flexible prices) is more consistent with the stylized facts of the Iranian economy. The multi-sectoral model could match simultaneously the moments of the inflation rate and output gap. Also, this model has been able to explain the persistence of inflation endogenously. In addition, the multi-sectoral model could simulate the inflation inertia in reaction to a monetary shock.