جستجوی مقالات مرتبط با کلیدواژه « انباشت سرمایه » در نشریات گروه « اقتصاد »

Pension systems in most developed countries are considered to be the largest non-banking financial institutions and can be an effective factor for economic growth and development in addition to ensuring social welfare, especially during old age. In Iran, the discussion of pension reforms for many years due to different reasons, major challenges caused by demographic changes, aging population, decrease in fertility rate, increase in life expectancy and fundamental changes in the labor market such as unemployment, decrease in the quality and quantity of jobs and the expansion of the informal economy are the major concerns of policy makers. This article analyzes and simulates Iran's social security system in the framework of general equilibrium by using the three-period overlapping generations model. The optimal consumption and saving behavior  and the level of people's utility are different during the lifetime under different pension systems. The simulation results show that the full savings system has a higher physical capital accumulation than the current payment pension system, which leads to higher national consumption and national production in the full savings system.

Sidrauski's (1967) model of money in the utility function in the framework of a neoclassical growth model, has analyzed the role of money in the economy. His conclusions suggest that money is super-neutral in the steady state. The basic research problem is generalized Sidrauski's model according to Reis (2007). Then, using optimal control approach, analysis the non-neutrality of monetary policy effects through nominal interest rate in the generalized Sidrauski's model. The results of calibration and sensitivity analysis of macroeconomic variables in Iranian economy indicate that as long as demand for real money balances elastic regard to nominal interest rate in non-separation utility function, monetary policy is not neutral in steady state. Therefore, a monetary policy that leads to a 3.6% decline in nominal interest rate growth, causing an increase in real money balances from 9.82 to 10.63. Finally, increased levels of capital per capita, output per capita and consumption per capita from 8.46, 2.90 and 2.38 to 9.42, 3.07 and 2.88. In addition, simulated results during the (1434-1344) in Iranian economy indicate that monetary policy, which leads to lower nominal rates, has increased the level of capital, production and consumption per capita continually.

Justice is known as one of the most important principles of any economic system and pursuing other objectives such as efficiency and economic growth should go along with achieving justice. In Islamic economics, redistributive justice as a kind of justice can be achieved through obligatory and voluntary charities or through government subsidies. In this study, we generalize two-period overlapping generations model by entering the Islamic guidelines for redistribution in this model and examine the economic impact of redistributive behavior by analyzing the model in Islamic economics framework. The results show that an increase in redistributive behavior that emerges in the form of in Infaq (Transfer payment), has a positive impact on saving and capital accumulation and therefore is consistent with economic growth. So, one optimal approach for implementation of redistributive justice is to encourage people to Infaq and voluntary donations.

The main purpose of this paper is to investigate the interaction effects of risk, capitalization and inefficiency in Iran's banking system. For this purpose, combined data of commercial and private banks of Iran in years (1999-2012), were collected and analyzed using simultaneous equation approach and fixed effects two-stage least squares (FE2SLS), The results confirm the belief that these three variables are simultaneously determined. The results indicate that relationship between inefficiency with quality of loans is significant and positive. Capitalization and loan growth have positive effect on inefficiency. Capital accumulation will decrease quality loans. Capital accumulation also has negative effects on the quality of banking risk indicator.On the other hand ,due to the inefficiency of the banking system's cost and return on assets on capital accumulation, banks that arent in a good position in terms of performance, are not in a right position in terms of equipping and capital accumulation either.

This research aims to determine whether the employment in Iran is affected by goods market based on post-Keynesians theory, or by labor market based on neoclassical theory. Using time series data on profit share, capital accumulation, unemployment rate and capacity utilization in a structural vector auto-regression (SVAR) model, this article evaluates the linkages among unemployment, income distribution and effective demand in Iran during 1967-2013. The results show that an increase in capital accumulation in goods market leads to significant decrease in unemployment rate. In other words, according to the post-Keynesians theory, unemployment in Iran is demand-induced. On the contrary, according to neoclassical theory, income redistribution in favor of profits (change of real wage in labor market) can reduce unemployment directly due to substitution between labor and capital or indirectly through increasing capital accumulation and/or rising capacity utilization. Therefore, in order to pass recession and to increase employment we can focus on goods market by increasing investment and income redistribution in favor of profits.

The effect of tax on economic activities is an important issue in public finance. The fact that the existing system may decrease the investment motivation and consequently decrease the future life style is a great crisis. In addition to, the effects of tax system on capital formation, it can affect financial development and economic growth. In this paper, by simultaneous equations system in GMM method, the impact of capital gain tax on the capital formation , financial development and economic growth in Iran will be studied in the period of 1970-2014. The results indicate that the capital gain tax growth rate, with three lags, increases the physical capital formation growth rate. Also, capital gain tax growth rate, with three lags, decreases the financial development growth rate and increases the economic growth rate. Also, the value of J statistic and value of chi-square statistic indicate that all the entered tool variables in simultaneous equation system are valid and all the patterns are estimated correctly.

Is economic growth affected by Post-Keynesian Economists Theory? Is it possible to overcome economic recession in Iran using the Post-Keynesian approach? According to the Post-Keynesian point of view, the economic growth is either wage-led or profit led. In other words, the functional distribution of income determines the economic growth variation path. In this paper considering profit share, capacity utilization, capital accumulation, and net export/GDP ratio during 1967-2013, economic growth path in Iran is determined using Structural Vector Auto Regression (SVAR) concerning the Impulse Response functions. The results show that increase in profit share increases accumulation, net export share of GDP and total demand or economic growth. Thus total demand regime or economic growth is profit-led. The result of this research approves the theoretical results of Bhaduri and Marglin (1990); concerning the income distribution effect on international trade in an open economic, the possibility of profit-led regime increases and may help to overcome the recession.

The aim of this study has been to evaluate the club convergence between Iran and its trading partners over the period 1978-2013. For this purpose, this paper has used log(t) test with the limited dependent variable. Then,by using a sequential dependent variable model, factors affecting the formation of these club has been investigated and identified.
According to estimated model in the form of panel data, a convergence club income between Iran and some of its trading partners has been confirmed. The results show that there are the potential for income convergence of Iran and Belize, Algeria, Egypt, Fiji, Guatemala, Honduras, India, Kiribati, Morocco, Nicaragua, Swaziland, Thailand, Tonga, Tunisia and Vietnam countries and they can form an effective economic block, and strength their internal relationships in order to achieve higher economic growth and faster convergence.

This paper is to study the optimal monetary and fiscal policy in overlapping generations models with Cash-in-advance constraints. By help of the intertemporal equilibrium, the decentralization the optimal growth path is considered by using available policy instruments (i.e, taxes on wages, taxes on capital, public debt and the creation of money).
The results showed that although the tax rate on capital was always smaller than the ratio of government expenditures to production, but in the special case of Friedman Rule, the two rates were equal to each other. The results revealed that if the government cares equally about all generations, the tax rate on wage will be equal to the ratio of government expenditures to production. To calibrate the model, in addition to the values of the parameters of previous studies, the initial values of variables were used in year 2013. Also, the results of calibrating the model for Iran's economy show that it may take approximately 30 periods for the economy to reach a steady state. However, a comparison between current state and steady state indicates that 8 percent and 32 percent increases in capital per capita and public debt per capita in the steady state.

In the 1970s, such terms as "intergenerational equality", "intergenerational justice" and "intergenerational fairness" were used extensively in different research works’ titles and in the theoretical and applied research texts. In this regard, the most important views are to be found in Hartwick's work (1977) which, adopting a justice-oriented approach, answered the question of how to exploit the revenues of exhaustible natural resources, which answer came to be known as Hartwick's rule. Accordingly, the present paper, ignoring the conceptual challenges regarding the issue of “intergenerational justice”, considers the Hartwick's rule as a basis for the intergenerational justice’s being materialized, and, modelling Iranian macroeconomic situation, tries to analyze the effect of investing revenues of exporting oil and natural gas, as the strategy for realizing the intergenerational justice, on intertemporal and long run capital assets accumulation level as one of the most important factors of stable development and growth. The results show that trying to realize the intergenerational justice inutilizing the nation’s oil and gas resources considerably enhances capital accumulation’s long-term trend, which in turn promises economic growth and development in a long period.

During the process of economic development, economists gradually have found that in addition to factors such as technology and materials involved in the development, labor is also a special place. Therefore, labor must be supported by proper tools to continue development process along with the strengthening of both technology and materials. In addition to education and health care, social security is one of the most powerful tools for protection of human societies. Social security systems offers a variety of support services such as retirement pensions, disability and etc, so those are one of the most powerful levers of government to guide the society towards prosperity.By modifying of the Auerbach and Kotlikoff pattern (1987) and the failures of the pension system in Iran, this paper simulates the reforming of the pension system from of the Pay-As-You-Go system to the Partially-Funded one by using a 55-period overlapping generations model.The results indicated that individual’s optimal consumption-saving behavior varies under different social security systems. Our findings of the simulation model show that in addition to increasing the personal financial assets, Partially-Funded pension system provides a higher physical capital accumulation for the economy than that of ¬Pay-as-you-go pension system. In addition to higher level of national consumption, the transition to the new system provides a higher level of economic growth and national income.

In recent decades، tax reform has gained lots of policy attentions in most countries in the form of changes in the tax base and tax structure. Due to the excess burden of taxation، economists have made a considerable effort to minimize the distortions. To do so، they choose appropriate tax base or tax combinations in order to increase public welfare. Accordingly، dynamic analysis has gained favor over static analysis in various fields of economics، particularly in fiscal policy. Due to the importance of tax revenues for government and presence of problems such as tax evasion in Iran، tax reform has gained priority in economic reform agenda. This paper uses a dynamic general equilibrium model based on the fifty-five period overlapping generation model of Auerbach and Kotlikoff (1987) to simulate tax reform in Iran. This study is the first in its kind in Iran. The results suggest that there are significant welfare benefits (4-6% increase in lifetime utility) when factor income taxes are replaced by consumption tax.

Capital accumulation is one of the first requirements of development. Capital accumulation methods play a crucial role in the governance and institutional structures. Globalization has a positive impact on the world production and employment. A large part of this effect can be seem in developing country، especially in textile، clothing and leather industries، whereas in many industrialized countries that were concentrated on high value added goods and services، production of such labour intensive activities is declined and a large amount of related jobs has been destroyed. However، all developing countries are not able to have an active presence in highly competitive global markets. During the past three decades، Turkey has increased her share in the world textile and clothing production and exports، while Iran has lost a large part of its production and employment in these sectors. This paper investigates the causes of great changes of competitiveness of textile industries in Turkey and Iran by an institutional approach; as competitive capability in textile industry has been affected by chain of structural causes during the time and passed trajectory of industrial development in these countries created different institutional capacity. Since mid 1970s، these countries implemented two different strategies that the outcome is observable in the textile industries'' performance. Dependence on oil revenues and distribution of oil rent prevented Iran from formation of competitive industries، whereas efforts for increased presence in international markets، particularly in textile and clothing، led Turkey to boost exports.

Lack of data, income or solely precautionary considerations have caused people act differently in their life cycle rather than what is expected of them. These differences are mainly related to educational levels, production capacity and their differential pension conditions. The assumption is that people have planned for their old age through different forms of savings at earlier stages of life. Since this may not happen, the aim of social security programs is to solve retirees problem that cannot compensate their income deficit. This paper analyses and simulates Iran’s Pension System by using an overlapping generations model. Thus, we study the effects of transition from the Pay-As-You-Go Pension to the Fully Funded Pension System on capital accumulation, income distribution and poverty. Simulation results show that in addition to higher levels oflifetime utility, The Fully Funded Pension System compared to Pay-as-you-go provides a higher physical capital accumulation for the economy. The transition to Fully Funded System creates two different and opposite effects on poor people. On one hand, poor people economic conditions deteriorate and on the other hand, since they receive returns on their savings, they have an opportunity to be placed in a better situation, because the Fully Funded System enable them to have an access to financial institutions.

The ability of OLG models in analyzing and simulating the various fields of an economy, such as the investigation of endogenous growth policies, the development of intergenerational equity criteria and the reform of social security system, has caused these models to have a special position among economists in recent decades. However, difficulties in quantifying these models and analyzing their stability properties have led them to remain only theoretical and receiving less attention from empirical viewpoints. This paper uses the proposed method by Auerbach and Kotlikoff to estimate a 55-period overlapping generations model. Then due to failures of the Iran’s Pension System, it analyses and simulates Pension System within overlapping generation’s model with heterogeneous agents living in 55 periods. Thus we study the effects of transition from the Pay-As-You-Go Pension to the Fully Funded Pension System in the process of capital accumulation, national production and national consumption. The findings indicate that the individual optimal consumption-saving behavior varies under different social security systems. The results of the simulation model show that in addition to increasing the personal financial assets, Fully Funded Pension System provides a higher physical capital accumulation for the economy than that of ‌Pay-as-you-go Pension System. In addition to higher levels of national consumption and production, the transition to the new system causes people to have more incentive to stay in the labor market and to complete their career because they have higher labor income than the old pension system.