noorollah salehi asfiji

In recent years, a large number of researchers seek to understand the real motives of policymakers in response to economic development. Their evidence is that monetary policy follows a systematic process that is guided through the preferences of monetary authorities in order to achieve certain goals. The purpose of this study is to determine the stable state of the optimal monetary policy rule, using the method Optimal control for all generations. To achieve this, measuring money in optimal control theory is very important and vital. The exact output of this measurement is the removal of inflation from the economy for all generations. Money measurement in economics is fundamentally different from other measurements, such as production, employment, consumption, etc. It is that money is a warehouse variable. A storage variable does not have a time dimension. While the flow variable has a time dimension. In other words, the concept of running must be defined at every moment of time. If the warehouse variable, it must be measured at a moment in time. In other words, it is measured for a moment of time, for all times. The fundamental difference between storage and delivery is in the measurement unit. The unit of measurement is defined over time (unit in time). The warehouse measurement unit is empty of time. As a result, it is not defined for growth or derivative storage variables. In other words, money growth is meaningless. Or changes in the amount of money are meaningless. Rather, the level is defined for the warehouse variable. In mathematical language, for the accumulation variable, the integral is defined, not the derivative or the variation. That is, the derivative of money is always zero. In mathematics, integral (in French: Integral) is a method of assigning numbers to functions. That is, in economics, money is the integral of value, not the derivative of value. What causes money to flow in the exchange process in economics is the speed of money circulation. But money itself is a warehouse. It is important to distinguish between money and the velocity of money. In other words, the definition of the equation of motion for money is wrong. But for the speed of money circulation, the equation of motion is defined. That is, the control variable is not money, but the speed of money circulation is the control variable. So that with the increase in the speed of money circulation, the economic growth increases. As a result, the balance of money is static for all generations. If the balance of the speed of money circulation is dynamic. As a result, Yule's optimal policy rule is as follows: the formation of a public source of money over time for all generations, so that the ownership of this public resource is public. As a result, the act of providing money from this source for all generations is in the form of a loan agreement. In other words, in the theory of optimal control, the public source of money has the role of controller of the economic system. That is, inflation control is only possible through public resources for all generations. In this case, the macroeconomic balance is a stable balance for all generations. Because the balance of money over time is a static balance. Because money has no time value. Because money has no time. As a result, when money is first credited to the exchange process in economics, it exists forever in the exchange process. That is, the lifetime of money is infinite. In other words, there is no need to create money. That is, the growth of liquidity over time is zero.

The purpose of this paper is to investigate the business cycles quiddity in the Islamic economic system. Thus, by using the grounded theory method, it was concluded that if people accompany the divine governor and according to the thanksgiving indicator, the blessings increase. and also by turning their individual consumptions to social consumption, the public care principle prevents of the demand shortage occurrence and a consistent level of demand in the economy is maintained at all times. On the other hand, the payment of obligator rights of capital will increase producer profits and will prevent the bankruptcy of other firms and also will help to maintain employment and increase job opportunities. As a result, it can be said that in the Islamic economic system, with the Islamic state establishment, due to the implementation of divine laws in society and the reformation of consuming and investment behaviors, the business cycles do not create.

In addition to such variables as the level of income and its time- span, the revenue risk of financial institutions has an important role in their success and efficiency. The present paper, focusing on aforementioned element, investigates the distinction between interest-based financial institutions and participatory financial institutions in view of their revenue risk. The research hypothesis is that investor’s risk in interestloaning system is more than his/her risk in a profit and loss sharing system. To test this hypothesis, investors’ risk in participatory institutions and interest-based institutions has been analyzed, using simple variance method and Johnson’s inequation method and corollaries of Rothschild-Stieglitz model. The results show that investor’s risk in interest loaning system is more than his/her risk in a system based on participation in benefit and loss. More risk in interest loaning system means less stability, more distance form justice, less growth, and as a result, less efficiency and welfare.

Investment, a critical issue in macroeconomics, depends upon rate of interest. Closely related to investment in macroeconomics are equilibrium and sustainability. This paper aims at using an analytical method to identify an interest-free macroeconomic model as opposed to capitalist macroeconomic models. The main premise of present Paper is that this model is sustainable in the same manner as models dependent upon interest rate. Furthermore, proposed model is even more sustainable than the macro-model of Sargent. In order to achieve viable models in an interest-free system, changes were made to a chosen model. Proposed model entails alterations in labor demand, production, consumption, and investment functions as well as equilibrium in the labor market. Since during rising inflation in an interest-free system, the true rate of return for monetary assets is preserved, the motivation for savings is not weakened. Thus, for developing countries faced with inflation and its resulting stagnation, it is preferable to substitute monetary systems based on interest with interest-free systems.