نشریه جستارهای اقتصادی ایران
پیاپی 37 (بهار و تابستان 1401)

In this study, it is explained that the perception of the conventional economics of the bank as an intermediary institution of funds, while not conforming to reality, distorts the analysis of monetary fluctuations and subsequent economic turmoil; But in the alternative approach, the bank, as the most important player in the monetary system, has the power to create flexible credit. The specific question of the present study is whether it can be said that in the current form of the monetary and banking system, the interests of the bank and society are inherently in conflict with each other. To answer the above question, the library and documentary method has been used and Finally, it is concluded that the bank is an institution that can outsource the costs associated with the flexible and irregular expansion of credit and affect the economic interests of individuals in society, and in return, Gain the benefits of creating credit; This important result is based on Minsky's explanation of the dynamics of bank-firm relations; In his view, the internal mechanisms of the money manager capitalism and specifically the way the firm and the bank interact, cause "stability to create instability". The result of the current research is that, firstly, the conflict between the interests of the bank and the society is the natural outcome of the unrealistic understanding of the conventional economic knowledge of the "bank", and secondly, the examples of this conflict can be seen in three recurring periods of time: 1. Before the appearance of the initial signs of the monetary and banking crisis. 2. After the initial signs of the crisis appear. 3. The occurrence of a widespread crisis and its spread to other sectors of the economy.

One of the most important challenges of the banking system is the bank interest rate and how it is determined.In many developing countries, without efficient structures, interest rates are usually set by order, regardless of the market situation, taking into account general economic indicators, including inflation, and with a supportive view towards some economic sectors.In Iran, due to some political and economic considerations, the determination of the interest rate was assigned to the Money and Credit Council by order, so that it can provide the basis for growth or strengthening of production or inflation control at its own discretion.  But in reality, this method, firstly, due to being influenced by the directive policies of various governments, and secondly, the failure to achieve some basic goals of the banking system, cannot be a suitable criterion for determining the optimal interest rate.Determining the interest rate of exchange contracts in Iran's usury-free banking system, inspired by Taylor's rule, can help the country's economic policymakers in achieving the goals specified in the country's monetary and banking law and has stabilizing effects on the country's economy. Therefore, in this research, the system of simultaneous equations and the three-stage least squares method (3sls) was used to model the determination of the policy interest rate and obtain the coefficients of the variables.The results of the research for the period 2018-2019 show that firstly, the monetary authorities' reaction to the production gap and expected inflation is not compatible with Taylor's generalized rule and second, choosing the best methods of setting quantitative goals for Iran's economy in development programs will be meaningless until the regular method for determining the interest rate is implemented.

Standard finance, is based on methodological individualism within the framework of Cartesian epistemology. Based on this rationalist structure, the investor enjoys Perfect rationality, Perfect selfishness and Perfect willpower. Based on these three assumptions, the basic principles of investor's behavior are formalized in the form of a thematic principle, and all theories are produced with a logical inference of this thematic principles. This methodological approach claims to have been able to descriptively and prescriptively describe, explain and predict the investor's behavior in the form of the principle of Optimizer Agent, but in practice, the observed data is significantly different the theories predict, especially since the observation of numerous financial crises and the inability of this knowledge to explain them, makes a skepticism approach into validity of standard finance. Heterodox paradigms such as structuralism, institutionalism, behaviorism, etc have tried to provide an explanation for financial crises. Behavioral finances, meanwhile, claims that the agents don’t choice in accordance with the standard model. Actually their behavior has a predictable bias. In the past three decades, behavioral finance has identified and categorized the types of biases in investors' behavior and provided rich literature in this regard. The question that why should we focus on investors' behavior and consider the Economists as rational agents? Since classical finance theorists are human beings and their method of study is based on rationality. This study examines historical process of methodological and philosophical foundations of standard finance in abductive approach. According to the results of the research, classical financial theorists have been involved bias in two ways: "methodology " and "mathematical tools" that along with investors' biases, has resulted validation crisis. The prerequisite for solving these problems is methodological modification, which is not possible in the philosophical structure of conventional economics.

Household assets can boost future consumption and protect households from the risks of uncertainty, so asset-based policies become more important. Also, policies in this field can cause the continuous accumulation of the value of household assets. This article provides empirical evidence on the financial behavior of Iranian households. The purpose of this research is to examine the relationship between property ownership and social and economic characteristics of households, to find characteristics that can better explain behavioral differences.
To achieve this goal, logistic regression was performed on the variables of gender, education level, marital status, age, employment status, number of children in the household, living area, type of life insurance, housing unit ownership status, obtaining bank facilities, and income and wealth status of households that They have been measured by a questionnaire and fitted. The results show that gender, education level, age, number of children in the household, living area, housing unit ownership status, obtaining bank facilities, and family income and wealth status are among the variables that affect the financial choice of households. The findings of this study can help financial planners and consultants to better understand the behavior of households in choosing different financial assets to effectively satisfy the needs of their clients.

This study was conducted to examine the transaction costs of obtaining credit in selected Islamic contracts from Melli Bank, and to determine the factors that affect the transaction costs on this credits. Transaction costs are high in developing countries, especially in credit sector, and the high cost reduces banking system efficiency and its performance. The data collected by a survey in a two-stage sampling technique in 1399, that this sample is 483 customers of Melli Bank. After estimating transaction costs of borrowing and lending, the econometric models used to determine the factors that affect the transaction costs of access to credits. The sample was. The results show that the average of transaction cost rate is 4.8% which equals 43% of average of interest rate on lending facilities. Also, this rate in micro and subsidy facilities like interest-free, transaction cost rate is estimated to be 6%, equivalent to 150% of the commission.

In the past few decades, the harmful effect of dependence of governmentson the income of abundant oil resources in the economy of developing countries has received a lot of attention; So that the discussion about its results, such as the wealth of abundant oil resources, can negatively affect the governance and state of democracy of a country has been raised. The political and economic inefficiency known as "curse of oil" is a complex and structural phenomenon which is mainly caused by poor management or poor investment of oil revenues by the governments of oil producing countries. The purpose of this research is to compare the relationship between oil revenues and tax revenues on democracy in oil-dependent countries with medium income and also oil-dependent countries with high income using the Systemic Generalized Moments (SYS-GMM) approach. For this purpose, data related to the dependent variable of democracy and independent variables, oil revenues, tax revenues, economic growth, GDP per capita and population for 10 countries with high oil income and 21 countries with medium oil income including Iran during the years 1980 to 2018 was analyzed. In summary, the results of the study and estimation of the model showed that with the increase of oil and tax revenues in countries with high oil income, the level of democracy has improved; While for countries with medium oil income, the increase in oil and tax revenues leads to a decrease in the level of democracy and the phenomenon of oil curse is confirmed.

In recent years, Islamic securities market has grown significantly in Iran. One of the most important types of Islamic securities is Ijarah sukuk, which have been welcomed by founders seeking financing and have been able to acquire a significant market share in Iran and the world. Ijarah Sukuk are certificates of equal value which are issued by the owner of an existing property or asset either on his own or through a financial intermediary, for the purpose of leasing it against a rental from the subscription proceeds. One of the assets that is the basis for the issuance of Ijarah Sukuk is shares, which according to the shariah committee of the Securities and Exchange Organization of Iran, if the majority of the company's assets, whose shares are the basis for the issuance of sukuk, are fixed assets, the issuance of Ijarah sukuk on it equal to the value of the shares in Possession is allowed. The basic question in this research is what is the criterion of dominance in shares and how is it calculated. The current research is considered descriptive and practical. In this research, firstly, the decision of shariah committee on the predominance criterion is examined and criticized, then the proposed criteria for determining the predominance of rentable assets are presented and analyzed, and finally the selected predominance criterion is presented

Charities are among non-profit organizations that are not based on personal profit and pursue charitable and public goals. Being non-governmental, non-profit, non-political, voluntary, and independent are common characteristics of public charity organizations. The current research tries to answer these questions using the SWOT technique: What are the weaknesses and threats of charity organizations in the country? And what strengths and opportunities do they benefit from? What strategies can minimize the weaknesses and prevent those threats from causing harm by taking advantage of the strengths and opportunities in charitable organizations? The results of this research, which used the library method in data collection and content analysis in the inferences, and applied CVI and CVR measurement tools in the validity of the results, indicated that by adopting strategies such as the institutionalization of the public sectors of charity affairs with a network approach, institutionalization of the governance sectors of charity affairs with a network approach, cultural and managerial development in the country's charity sector, and the networking of charitable institutions, the existing strengths will be strengthened, the weaknesses of charity organizations will be reduced to the minimum and existing threats will be turned into opportunities.

The credibility of the Islamic economic system is faced with theoretical challenges on the two levels of the possibility of realization and the quality of implementation.  In the following article, these two challenges have been explored and answered by referring to the foundations of Islamic thought. Islam and the sovereignty derived from it is a systematic whole and include various sub-systems, including the economic system, and when researching each of the components of Islam, one must study the desired component within that whole. Here the question arises whether this issue is also true for the sub-systems? What are the study approaches related to Islamic economy and what situation does it depict? In the writer's opinion, Islamic economy is a collection of ideas in various fields, and in order for it to become a coherent scientific framework; it needs to be considered with a comprehensive and systematic approach. Otherwise, one-dimensional approaches - although valuable - will leave the goal out of reach. Before examining this issue, it is necessary to address the question of whether Islamic economics is fundamentally possible to achieve objectively. It is often said that economics is a positive science; but Islam includes normative teachings; therefore, just as physics is meaningless with the Islamic definition, so is economics. Our hypothesis is that the Islamic economy is completely possible and we will prove it with a new method. Therefore, scientific texts related to Islamic economics can be formed; the propositions of this science can be gradually put to the test and then put into practice.

The market theory is Islamic if it is compatible with Islamic principles and principles based on Islamic norms and with the "method of deducing Islamic economic theory" from the book and tradition. This market is characterized by: "adherence to Sharia", "rule of ethics", "honesty" and "guidance, policy, and government supervision". The economic man in this market, as a demander, has chosen the criterion of "indulgent, voluntary, true and lasting pleasure" and as a producer seeks "to obtain a fair solvent profit for the cost of the family and to perform religious and social duties."
The economic man in this market allocates his limited resources and capacities well, per Islamic positive and negative values ​​, and with respect for the rights of others. The three strategic principles derived from Islamic norms, namely 'observance of values', 'livelihood', and 'social Islamic insurance "Takaful" ', which are manifested in 'spirituality', 'growth', and 'justice', respectively, are coordinated and synergistic, simultaneously. Therefore, with the basics that act as infrastructure, they affected the behaviors and consequently the positive segment of the market and they cause this market to be more stable and more efficient than the market of complete competition depending on the degree of compliance with Sharia, governance of ethics and guidance, policy-making and government supervision.

Unemployment insurance is the most basic social security plan in the world. However, the problems of moral hazard and adverse selection have confined unemployment insurance to low-risk occupational groups. The coverage of unemployment insurance in Iran seems to be even less extensive. In 2017, According to the Statistics Center of Iran, only 2/5 % of the unemployed were covered by unemployment insurance. However, even with this limited coverage, unemployment insurance funds are exposed to financial difficulties. The presence of moral hazard among the Iranian unemployed, insured for unemployment, is well confirmed in the literature. They provide a negative association between unemployment benefits and unemployed incentives to return to the labor market.
 They also found that unemployed workers with more statutory duration of unemployment benefits have less motivation to find new jobs. This study addresses the problem of adverse selection in the unemployment insurance plan neglected in the literature. So, we first estimate the unemployment risk in terms of incidence and duration of unemployment. Then, considering the relation between workers' risk of unemployment and their insurance coverage, we investigate adverse selection in the labor market.
 The results confirm adverse selection in the Iranian insurance plan that forces insurance funds to exclude a broad group of employees, e.g., self-employed workers and labor forces who lack the skills necessary to get hired.

Gary Becker, as the creator of family economics, believes that humans maximize their utility in all their behaviors based on a set of stable preferences and an optimal amount of information. If it is shown that people do not behave based on the maximization of utility in some areas of their lives, the efficiency of the economic approach in their analysis will be doubted. This article introduces decision-making theories and examines the appropriateness of each of them regarding family choices according to its specific characteristics. This research uses analytical-descriptive method to explain how human and Islamic values affect family decisions. This study uses the content analysis of verses and narrations and its comparison with the famous inferences of Shia jurists to understand the scope of maximalist behavior in choosing a spouse. It concludes that behaviors that are subject to mandatory or haram rulings are within the scope of contextual behavior and outside the scope of application of the economic approach. The behaviors that are subject to the rules of recommended or prohibited can be both contextual and optimization, and the economic approach is applicable to some extent in their analysis. Behaviors that are not subject to the mentioned rules are in the scope of rational behavior and it is expected that the economic approach can be used well in their analysis.