This paper explains why the overall stance of monetary policy is effected by both interest rates and the exchange rate, and hence why a Monetary Conditions Indicator can provide useful information about the stance of policy. Three output gap equations estimated in this paper reveal that the real interest rate and the real exchange rate both affect excess demand but that the real interest rate i...

in this research, the attempt was made to test the existence of the natural rate hypothesis in iran, by using a johansson cointegration test. the results do not reveal any long run relationship between inflation and unemployment in iran for 1340-1386 periods. because of the time varying nature of nairu, the hp filter was applied to estimate the time series of nairu. comparing the nairu time ser...

in this paper, the effect of trade openness on growth is examined across the members of organization of the islamic conference (oic) by using convergence-growth equation and gmm-system dynamic panel data estimator over the period 1980-2009. the results show that the overall trade, the trade with non-oic countries, and the investment in physical and human capital stimulate economic growth. in co...

A large economic literature discusses the implications of export sanctions for a variety of states around the world. This paper investigates the macro-level consequences of imposing oil export barriers on an oil exporting country. We employ a large real financial computable general equilibrium for Iran. The model is calibrated based on 1999 Social Accounting Matrix for the economy of Iran inc...

Photoinitiated reactions of H atoms with C 0 2 in C02-HBr complexes have been examined by using ab initio generalized valence bond-configuration interaction calculations. Recent experiments have shown that C02-HBr complexes yield OH -40 times more efficiently than C02-HCI complexes for similar values of hu-&(HX). We find that the calculated equilibrium geometry for the T-shaped C02-HBr complex ...

i n the past decades, the effect of different tax amendments on various economic issues has been studied. the majority of these studies have avoided considering shadow economy as part of the calculation and analysis, and an issue, which has received little attention, is the relationship between green tax reforms and shadow economy, as for informal labor, which is well-connected to unemployment ...

Using a simple stochastic growth model, this paper demonstrates that the coefficient of variation of aggregate output or GDP does not necessarily go to zero even if the number of sectors or economic agents goes to infinity. This phenomenon known as non-self-averaging implies that even if the number of economic agents is large, dispersion can remain significant, and, therefore, that we can not l...

In the context of partitional knowledge models, we prove that, in a monotonic model, any cycle equation can be obtained as the product of cycle equations corresponding to cycles of length two. Hence, if a model is monotonic, has …nite states, and players’posteriors satisfy all cycle equations corresponding to cycles of length two, then these posteriors are consistent (i.e., there is a common pr...

in recent years, economists have paid attention to the relationship between emotions and productivity. economists investigated the bi-directional effect of emotion and subjective well-being, such as happiness, on different economic variables, such as productivity, health, income, and so on. in this paper, we try to study the effect of income on labour force happiness in iran. for this purpose, ...