amir h mozayani

In recent decades, due to the increase of stress in financial markets and its effect on economic growth, the need to find better models and indicators to deal with crisis events and reduce their effects is felt. This paper seeks to answer this question: What are the effects of the stress of the financial system and its main sub-sectors (banking system, stock market, and foreign exchange market) on economic growth in Iran? For this purpose, the quarterly data of the time-series 1370Q1 to 1395Q2 (1991Q2 to 2016Q3) from the banking sector and the stock and foreign exchange markets have been used. To construct a multi-lateral financial stress index "within" and "between" each sector/market, respectively, the method of Principal Component Analysis (PCA) and Credit Weighting (CW) has been used. Using the Auto-Regressive Moving Average (ARMA) and the Auto-Regressive Distributed Lags (ARDL) approach, the required optimal intervals were estimated and using the Exponential General Auto-Regressive Conditional Heteroskedastic (EGARCH) approach, the conditional variance of the desired indicators, which represents the volatility of the indicators, was calculated. Then, using the Markov-Switching approach, the impact of financial stress on Iran's economic growth has been evaluated. The results indicate that despite periods of financial stress in Iran, its effect on economic growth has been insignificant and meaningless in most cases.

Extensively expansionary monetary policy has posed serious challenges to Iran's economy in recent decades. In this regard, we can point to the elimination of public tendency to supply of Qarz-ol-Hasna deposits. So that the share of Gharz -ol-Hasna deposits in total bank deposits has decreased and has reached almost its lowest level in the last four decades. Among these, one of the most important reasons has been monetary policy indiscipline during this period which has been led to a sharp increase in liquidity and inflation rate and consequently increased opportunity cost of money or time value of money and has caused the Qarz -ol-Hasna deposit (in the form of Qarz-ol-Hasna deposits in the banking system), to decline. However, Qarz-ol-Hasna has been highly emphasized in the Qur'an and Islamic sources and many economic and social functions can be imagined for it. In this article by reviewing monetary authority's performance through monetary and inflation indices tried to pathologies the decreasing trend of Qarz -ol-Hasna deposits, focusing on monetary policies role.

Information and communication technology (ICT) has been rapidly developed in the last two decades and has directly or indirectly affected most areas of human life, including health, which is also referred to as e-health. On the other hand, in the past three decades, most countries in the world have experienced rapid growth in health expenditures, as health expenditures have become one of the most important items of household expenditure. Besides, in developing countries, including Iran, the main financial burden of using health goods and services is borne by households. Reducing the financial burden of health services on households has been one of the long-standing goals of policymakers. It seems that using the ICT capabilities in the form of e-health can be one of the effective solutions in this regard. The present study seeks to investigate this issue. For model estimation, the panel data method and the GLS model in the form of provincial data were applied. The results imply that besides other factors affecting the household health expenditures (such as income, education level, insurance coverage level, etc.), the development of ICT managed to have a significant effect on reducing the health expenditures. It seems developing ICT infrastructure, expanding its penetration rate and developing its applications in the form of e-health can be considered as a proper strategy in the field of health care.

This study tries to provide the main components for measuring economic justice in Iran. The study of the indicators presented in the field of justice in Iran is effective in identifying the components and strengths and weaknesses of the indicators explained so far. Therefore, first the concept of justice is examined from the perspective of scientists of the field, then its conformity to Iran’s law and its specific conditions. The studied components have been analyzed in four main areas of non-discrimination, equality of rights, possibility of achieving opportunities and justice concept in a separate idea from the traditional definitions of equality. By reviewing the researches done in Iran and the world, four indicators have been selected from the presented indicators for Iran's economy. The selected indicators of the research are examined separately and together. The common and specific components of each indicator are analyzed and then the result of the study is presented. Finally, the proposed components for indexing are presented in order to use components that are more in line with the concept of justice and suitable for the Iranian economy in measuring justice.

For nearly nine decades, the concepts of retirement and benefits of employment saving for the elderly period have been introduced in the context of various pension funds in Iran. In this regard, the Social Security Organization, as the largest pension fund in the country, has great social importance. On the other hand, this organization, with one of the largest financial reserves, is also of great economic importance. Therefore, asset - liability management is of particular importance so that it can guarantee existing resources for current use and repay future liabilities for future years. To this end, it is important to take the right investment approach. In order to pathologies and analyze this issue, in the present study, the cash flow of revenues and expenditures of the organization along with its specific features and requirements for the period 2010-2017 was analyzed. Then, the requirements for adopting active or passive investment approaches and outsourcing or introspection in investment management of the organization''''''''s reserves and global experiences were introduced and the current approaches of the organization were evaluated. The results imply that the current approach of the organization is passive and without any outsourcing in investment management. At the same time, the results indicate that it is difficult to take an active approach in the current situation due to the low depth of the financial market, inappropriate business environment and high government prevalence on the Social Security Organization.