مجله بررسی مسائل اقتصاد ایران
سال نهم شماره 1 (پیاپی 17، بهار و تابستان 1401)

This article examines factors that affect the Real Permanent Equilibrium Exchange Rate and determines the degree of deviation of the informal market exchange rate from it. For this study, a Dynamic Ordinary Least Square Model is applied for the period of 1369Q:1-1399Q:4. According to the research findings, increasing net ratio of foreign assets of the central bank to production, productivity and also the ratio of trade surplus to production, lead to a decrease in the real Permanent Equilibrium Exchange Rate and increasing ratio of expenditures government to production leads to an increase in it. Also, calculations show that since 1397, the upward trend of the Permanent Equilibrium Exchange Rate has started and since then until the end of 1399, the currency deviation in the country has always been positive. One of the most critical seasons in this period was the third quarter of 1399, in which the currency deviation has exceeded 32%. According to the forecasts made based on the estimated model, with the scenario of the continuation of the current situation, the equilibrium exchange rate of the summer of 1400 has been estimated at more than 25 thousand Tomans.

The past and present connections of the housing sector cause the recession (boom) of this sector to be effective in the recession (boom) of the whole economy and housing to act as the engine of the economy. The purpose of this study is to investigate the convergence of housing prices in the provincial of the country. In the present study, the semi-annual data of prices in period 2012:1-2020-2 have been used and for the test, a model based on time-dependent nonlinear log (t) regression has been used. The estimation results based on the approach of Phillips and Sul (2007) show that none of the four cities of Tehran, Isfahan, Ilam and Yasuj show convergence behavior in housing prices. However, for the rest, the result of log (t) test was positive and significant, which indicates the existence of price convergence among the members of each club.Finally, results showed that the average transition path of clubs from one period towards has diverged from the equilibrium. This indicates that as this divergence intensifies, it will become more difficult in practice to make policies to manage market fluctuations. Because it is necessary to adopt a policy specific to each club according to the conditions.

The Key Role of the Oil Industry in the Iranian Economy Has Caused the Shocks in This Industry to Affect the Entire Economy. In this Study, We have investigated the Effects of Oil Price and Production Technology Shocks on Macroeconomic Variables by Designing a Dynamic Stochastic General Equilibrium (DSGE) Model. This Model Includes the Household, Firm, Oil, National Development Fund, Government, and Foreign Sectors and the Data of the Years 1352-1396 have been used to Estimate the Parameters. The Results have shown that Oil Price and Technological Shocks have a Positive and Significant Effect on Oil Investment, Employment, Consumption, Government Expenditure, and a Negative Effect on non-oil Investment and GDP. According to Negative Consequence of Oil Price and Technological Shocks on Macroeconomic Situation, Oil Revenue Weaken non-oil Sector. Contrary to Technological Sock, Oil Price Shock has a Negative Impact on Oil Production and Export. The Macroeconomics Mechanism explains that at First Steps Inflation Would Stable Due to the Inflow of Oil Revenues and Increased Imports but then it will Increase Due to High Liquidity.

Women comprise roughly half of active population of societies. Although the education of women is costly, they mainly have low rate of participation in the labor market. Using raw data of labor force surveys for Iran labor market during period 1397 to 1398, this paper investigates factors affecting Women Labor Force Participation (WLFP). The results of this research, which uses logit model for analyzing its data, elaborate that despite similarities (significance and the same direction of effectiveness in the number of children under seven, age, age square, and education variables), there are differences in urban and rural estimation results. While non-Iranian nationality in urban areas has increased WLFP, it is not true for rural equation. Also, the probability of rural women participation in the labor market will increase till a higher age in comparison to urban sample. It is noteworthy that education is the most powerful factor in the participation of urban women in the labor market. According to Iran statistics, the main reason of increased non-active population is family responsibilities. As results show, increasing the number of children under seven, in urban and rural areas will decrease WLFP and being married will decrease WLFP in urban regions.

Capital market is a dynamic market whose risk and return depend on internal and external factors of companies and industries. In the present study, first to identify and model external factors or optimal economic macro variables on the stock returns of companies and industries in Tehran Stock Exchange has been studied by the genetic algorithm function approximation (GFA) method in the period 1390 to 1399 and then the impact of economic shocks has been analyzed by the panel vector auto regression (PVAR) method. The modeling results showed that out of 10 macro variables affecting companies' stock returns, four variables, free exchange rate, OPEC oil price, coin price and interest rate on account are optimal. Government exchange rates, inflation, coin prices and interest rates are optimally calculated. The effect of two variables of coin price and interest rate on account on companies 'stock returns and the average return of stock exchange industries have been negative and significant. Also, the results showed that companies' stock returns are highly affected by oil and coin price shocks and government exchange rates. It has a significant effect on the average return of stock exchange industries.

Human development index is based on aspects of human quality in a country. Human development is affected by many variables. One of the main variables is urbanization. On the one hand, urbanization promotes human development by improving the level of income, educational and health services, and on the other hand, with the rapid growth of urbanization, increasing urban congestion, pollution and greenhouse gas emissions negatively affect it. Since rapid and incomplete urbanization has positive and negative effects on the economy, the purpose of this study is to investigate the impact of urbanization on the human development index during the period 1990-2017 with a multiple regression approach. The results show that the effect of urbanization rate on human development index is symmetric, negative and significant, which has become stronger in the upper quantiles. According to other results of this study, health, education and economic growth expenditures have also had a positive effect and CO2 emissions have also had a significant negative impact on the human development index; the pattern of population growth and migration be considered to changing the laws concerning the creation of new cities in order to adapt the urbanization rate to human development in the cities development plan.

This paper measures multidimensional poverty from 2004 to 2019. 13 ordinal categorical indicators in four dimensions of "economic welfare," "housing," "health," and "education" are used and to determine the weight of the indicators, the method of multiple correspondence analysis (MAC) is used. Based on these weights, a composite poverty indicator is calculated. With five types of poverty lines, including union criterion, intersection criterion, 60% median, first three deciles, and the absolute poverty line, poverty indicators are obtained cross-sectionally and in time series by urban and rural areas. The results show that multidimensional poverty is higher in rural areas than in urban areas. The Compensating power of poverty is also higher in urban areas than in rural areas. This means that urban households can better compensate for deprivation in one dimension by another. In the 16 years under study, the poverty trend is a convex downward trend that has become almost horizontal in the last years. The study of poverty of the provinces also shows that the provinces of Sistan & Baluchestan and Mazandaran have the highest and lowest headcount ratio of the poverty, respectively.

This study aims to simulate the money creation mechanism by the banking system in the form of a dynamic system of credit economy based on macroeconomic and microeconomic parameters. For this, a computer simulation has been designed and implemented. special attentions are to the role of debt and the factors influencing its creation and its disappearance. A new expression of the money multiplier and the velocity of money are presented. The traditional method of comparing numbers is not used to display the results, but with the aim of deep and easy understanding , the results are shown in 2D,3D plots as a range of colors. According to the results, whatever the agents' income and wealth, the more marginal propensity for consuming leads to increasing their planned expenses and consequently more requests for loans and increasing the money volume. Debt volume in the system decreases with more repayments, because the higher the debt repayment rate, the brokers are required to repay a larger proportion of their overdue debts, and this leads to the disappearance of debts and a reduction in the volume of money. Increasing the repayment rate due to higher payments leads to an increase in the velocity of money.

Unemployment rate, as an important economic indicator, has always been one of the main issues of policymakers and economists. Various factors affect the unemployment rate. Considering the economic conditions of Iran as an oil exporting country the purpose of this study is to investigate the asymmetric effects of oil price, oil price uncertainty and interest rate on unemployment in Iran using seasonal data, during the period from 1382:1 to 1399:4. In this regard, using the Nonlinear Autoregressive Distributed Lag method (NARDL), the relationship between variables has been investigated. The results show that the effect of positive and negative changes in oil prices and interest rates on the unemployment rate is asymmetric, but the effect of positive and negative changes in the oil price uncertainty variable on the unemployment rate is symmetric.The results show that the effect of positive and negative changes in oil prices and interest rates on the unemployment rate is asymmetric, but the effect of positive and negative changes in the oil price uncertainty variable on the unemployment rate is symmetric.

Peace is one of the most moral human concepts and Peacebuilding is also an issue that has been the subject of reflection by thinkers in the fields of ethics and philosophy for centuries. However, recent studies show that peace is not a purely moral issue but a phenomenon with economic benefits. This is especially important for Iran which is facing various internal and mainly external tensions. By using descriptive-analytical method, the paper examines the meaning of peace and its economic benefits from a theoretical and empirical perspective and then discusses the issue that despite benefiting from some of the benefits of economic development in recent decades, Iran not only has long been caught in various economic traps, but also the level of internal and external tensions has increased, and as a result, needs a transition to a new path of economic development. The results show that "Peace-Oriented Development" is a suitable alternative to get out of the traps and bottlenecks of the country's development. How to build peace-oriented development is a question that is answered in the final section of the paper in the form of a triple plan for changing interests-ideology-institutions.

Debt sustainability is the core part of government fiscal sustainability in theory. Many countries have faced economic crises due to the high level of public debt. The rising trend of Iran’s public debt shows that in a short time debt sustainability is going to be a policy challenge. This study investigates the debt sustainability in Iran in the 1353 to 1398 period. In this regard, Bohn's (2008) method has been used to reveal if the government responds properly to rising Debt by reducing the primary deficit. In order to check for nonlinear relation, Hemistra and Jones (1994) test for nonlinear Granger causality, and the newer version of it by Diks and Panchenko (2006) was applied to the data series. The result indicates no response to the rising debt. I other words, the government does not care about the debt level and the primary deficit is not affected by the debt level.

So far, a large number of macro-structural macroeconomic models have been developed for the Iranian economy. However, despite extensive research, a macro-structural econometric model with a MIDAS approach does not appear to have been developed so far. Therefore, in the present study, by designing a macroeconomic macro data model with different frequencies for the Iranian economy, the effect of monetary policy on macroeconomic variables has been investigated. In addition, by constructing a sanctions index and placing it in the behavioral equations of the external part of the model, the effect of sanctions on the model is taken into account. According to the model results, an expansionary monetary policy, by increasing the banks' debt to the central bank, increases the monetary base, increases the money supply, and as a result, production and employment increase slightly compared to the base trend. At the same time, following the implementation of this expansionary monetary policy, the general level of prices has increased relative to the base trend, leading to an increase in inflation. A contractionary monetary policy also reduces the general level of prices by increasing the ratio of legal deposits,