abstract: this paper discusses two topics. at first, it uses continuous wavelet (morlet) transform, coherency, and phase angle analysis to study the effect of mean volatility in opec crude oil prices, wti crude oil prices, brent crude oil prices and iran’s crude oil prices on the iran’s reer. to this end, the monthly data of the variables for years 2003 to 2012 is used. coherency analysis revea...

the main purpose of this paper is to examine the convergence of price-levels of tradable goods in comparison to that of services (non-tradable) under the free trade among iranian provinces over 2007- 2012. this comparison has been achieved by applying the pair-wise approach which has been recently developed by pesaran (2005). in this approach, the time series models (adf, df-gls and kpss unit r...

Applied general and partial equilibrium models are widely used tools for ex ante analysis of trade policy changes. However, simulation results seem to exhibit significant variation across publications, and the often criticised ‘black box’ character of applied trade models makes meaningful comparisons of simulation results very difficult. As a potential remedy, this paper presents a meta-analysi...

The present paper analyzes propagation of shocks to food and energy prices in 46 countries with data from the period 1999-2010. The empirical evidence suggests that in only one of the countries considered, a shock to the price of either energy or food shows no propagation to the prices of the goods and services included in the core inflation measure. In general, the propagation effect of food p...

This paper represents a first attempt to gather the issues of growth “pro-poorness” andmultidimensional poverty assessments. More precisely, we suggest the use of sequential dominance procedures (Bourguignon, 1989, Atkinson, 1992, Jenkins and Lambert, 1993) to test the “pro-poorness” of observed growth spells when poverty is measured on the basis of income and some other discrete well-being att...

Equity price is cyclical and often leads the business cycle. These observations have led to the hypothesis that shocks to equity market liquidity are an independent source of the business cycle. In this paper I construct a tractable model to evaluate this hypothesis. After calibrating the model to the US data, I find that a negative liquidity shock in the equity market can generate large reduct...

We find that hotel mergers increase occupancy. In some specifications, price also rises. These effects occur only in markets with high capacity utilization and high uncertainty. These findings lead us to reject simple models of price or quantity competition in favor of models of “revenue management,” where firms price to fill available capacity in the face of uncertain demand. JEL classificatio...

The distributions of income and wealth in countries across the world are found to possess some robust and stable features independent of the specific economic, social and political conditions of the countries. We discuss a few physics-inspired multiagent dynamic models along with their microeconomic counterparts, that can produce the statistical features of the distributions observed in reality...