جستجوی مقالات مرتبط با کلیدواژه « capital accumulation » 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.

Since economic growth affects many economic indexes such as employment, poverty, distribution of income, health, etc., investigating the factors influencing economic growth is of great importance. This would be even more important in developing countries, which face such problems as poverty, unemployment etc. Considering the fact that the VAT is becoming more popular in developing countries and the dearth of research on the effects of this type of tax on economic variables, especially economic growth, the need for this study is felt to shed lights on the related issues. In this paper, using a panel of 62 developing countries and the GMM-system method, we examined the effect of VAT on economic growth and its sources, including growth of capital accumulation and the growth of productivity. The results were consistent with previous research, indicating a positive and significant effect of VAT on economic growth and its sources.

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.

Natural resource management is of great importance for the countries with abundant resources to ensure capital accumulation and economic growth. The aim of this paper is to estimate capital stock accumulation in Iran on the basis of Hartwick’s Rule. The question is how much capital would be ideal for Iran’s economy? The results show that, based on Hartwick’s rule, capital accumulation is 1.5 to 1.7 times the capital available, which in turn means that a large portion of the annual natural resource revenue is consumed and net saving is negative. When these findings are revalued according to Hartwick’s Rule, adjusted in terms of natural resources rent (particularly oil rent), it indicates that if our economy has allocated 50 to 60 percent of natural resources rent to investment, then the adjusted Hartwick’s rule would be observed. In other words, in the existing institutional arrangement, the optimal adjustment coefficient for allocating resource rent to investment and consumption is between 0.5 and 0.6, demonstrating this fact that Iran’s economy holds the adjusted Hartwick’s Rule at a low level.

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.

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.

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.

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.