University of Tehran
Iranian Economic Review
1026-6542
11
15
2006
01
01
Methods of Economics: A Survey of Matters and Methods
1
38
30846
10.22059/ier.2006.30846
EN
Journal Article
2015
11
11
In spite of sonic pessimistic attitudes towards methodology of economics, it has succeeded as a central theme in numerous books, refereed journals, international conferences and symposiums whose volume is increasing at an unprecedented rate. The proliferation of methodological literature also is accompanied by a proliferation of issues that concern: the goals of economics, realism of economics, mathematics and economics, history and economics, ontology and complexity. Economics usually is associated with the hypothetical deductive method. But short-term and cycle analysis of macroeconomics and classical analysis of long-term development do not depend on this method, instead they are carried out within the methodological frameworks of historical-deductive, empirical inductive or dialectics. This paper focuses on the status and diversity of methodology in economics.
https://ier.ut.ac.ir/article_30846_af796e25249f2eb30790fa79e22d8408.pdf
University of Tehran
Iranian Economic Review
1026-6542
11
15
2006
01
01
Analyzing Exchange Rate Misalignment in Iran Based on Structural VAR Approach
39
58
30847
10.22059/ier.2006.30847
EN
Journal Article
2015
11
11
A central problem ill empirical macroeconomics is to determine when and how much the exchange rate is misaligned. This paper clarifies and calculates the concept of’ the equilibrium real exchange rate, using a structural vector auto regression (VAR) model. By imposing long—run restrictions on a VAR model for Iran, lour structural shocks are identified: nominal demand, real demand, supply and oil price shocks. The identified shocks and their impulse responses are consistent with an open economy model of economic fluctuations and highlight the role of the exchange rate in transmission mechanism of an oil—exporting country. Nominal and fiscal shocks appear to have important impact on output and the real exchange rate, even in the short run.
https://ier.ut.ac.ir/article_30847_570b2e5df2d3f8a195fba0d81e8e3675.pdf
University of Tehran
Iranian Economic Review
1026-6542
11
15
2006
01
01
The Influence of Agency Costs on Dividend Policy in an Emerging Market: Evidence from the Tehran Stock Exchange
59
80
30848
10.22059/ier.2006.30848
EN
Journal Article
2015
11
11
Dividend policy has long been an issue of interest in the financial literature. To date, a number of studies published on agency costs and dividend policy but most of them are on developed markets, It is well known that the emerging markets are quite different from developed markets in all respects. So, the existing published evidence is of limited relevance in identifying the influence of agency costs on dividend policy in an emerging market. The major objective of this paper is to identify the influence of agency costs on dividend policy in an emerging market. The Tehran Stock Exchange (TSE) listed non-financial sector companies for the period of 1997-2002 are considered as the sample of the study. Ordinary Least Square regression model employs to identify the influence of agency costs on dividend policy in an emerging market. The results indicate that number of common stockholders, collateralizable assets, and free cash flow positively related to dividend pay-out ratio. All of these coefficients are in the predicted direction and are quite consistent with the findings of Rozeff’s study (1982) as well as those conducted so far. However, these results support Jensen’s (1986) free cash flow hypothesis. Finally, these results suggest the influence of agency costs on dividend policy in an emerging market,
https://ier.ut.ac.ir/article_30848_3377250e21cbfb6341aaf9a6a3c70c3e.pdf
University of Tehran
Iranian Economic Review
1026-6542
11
15
2006
01
01
The Theory of Concentration Oligopoly
81
93
30849
10.22059/ier.2006.30849
EN
Journal Article
2015
11
11
This paper originates the theory of buyer concentration for a main raw material input for a single processing industry. The Oligopsony concentration is obtained and subsequently decomposed into several factors, affecting indirectly the industry’s profitability. It is found that the leading firms’ efficiencies hypothesis is reaffirmed due to variations associated with the marginal productivity differentials. This finding is based on concentration separation approach rather than analyzing the cost-efficiency effect against market power effect from increasing concentration on the industry’s markup, provided by structural approach of minimum cost function.
https://ier.ut.ac.ir/article_30849_6f29f43b728fb903c52cf34cf2a320ee.pdf
University of Tehran
Iranian Economic Review
1026-6542
11
15
2006
01
01
Impact of Organizational Learning on Market Orientation of Higher Education Agriculture Departments
93
115
30850
10.22059/ier.2006.30850
EN
Journal Article
2015
11
11
https://ier.ut.ac.ir/article_30850_3a34d27a7eb8ec8d48f60241a595f102.pdf
University of Tehran
Iranian Economic Review
1026-6542
11
15
2006
01
01
The P-star Model in Iran (1960-2005)
115
123
30851
10.22059/ier.2006.30851
EN
Journal Article
2015
11
11
This paper studies the usefulness of the P-model in the analysis of the behaviour of prices in Iranian economy. The P-model is based on the Quantity of Theory of Money. This model believes that the price level tends to move towards the equilibrium price level. The model uses price gap to forecast inflation, if the equilibrium price is greater than the current price, there is a tendency for the price level to rise and vice versa. The equilibrium price in this approach is determined by potential output, the equilibrium velocity of money and the amount of money in the economy. In this study, potential output and equilibrium velocity are derived using the Hodrick and Prescott filter.
https://ier.ut.ac.ir/article_30851_c149078f8c037efbeec2375914a480a5.pdf
University of Tehran
Iranian Economic Review
1026-6542
11
15
2006
01
01
A Change in Energy Intensity: Test of Relationship between Energy Intensity and Income in Iran
123
130
30852
10.22059/ier.2006.30852
EN
Journal Article
2015
11
11
In this paper we study the long- term trend of energy intensity for Iran. We use a quadratic function of the logarithm of income to take account of the change in trend of energy intensity and test the non-monotonic relationship between energy intensity and income during 1967- 2002 We find that the long-run coefficient on squared income is negative and significant, indicating a change in trend of energy intensity.
https://ier.ut.ac.ir/article_30852_0f44fa862e27da839c2814f66fa2e178.pdf
University of Tehran
Iranian Economic Review
1026-6542
11
15
2006
01
01
Determinants of Life Expectancy: A Cross- Country Analysis
131
142
30853
10.22059/ier.2006.30853
EN
Journal Article
2015
11
11
This paper analyzes the effects of socio-economic factors on life expectancy. Using multiple regression analysis, the paper shows that there is a positive strong correlation between life expectancy as an independent variable and per capita income, health expenditures, literacy rate and daily calorie intake. Also, it shows that there is a negative strong correlation between life expectancy and number of people per doctor. Using dummy variables, the paper shows that there exist some unrecognized or recognized but not quantifiable factors which affect life expectancy in African countries. Finally the paper concludes that human development requires an increasing investment in the socioeconomic sectors.
https://ier.ut.ac.ir/article_30853_3cf0e32798b75440e7f6859748e0f149.pdf
University of Tehran
Iranian Economic Review
1026-6542
11
15
2006
01
01
The Economies of Scale in Iran Manufacturing Establishments
143
170
30854
10.22059/ier.2006.30854
EN
Journal Article
2015
11
11
One of the topics after two decades of applying import substitution policy in Iran manufacturing sector is the importance of industrial export expansion and foreign relations. The main impetus to this policy transfer is the market expansion and potential gains of exploiting the economies of scale and technical upgrades. Based on this argument this research estimates the efficient scale and gains of producing the optimal scale in large establishments in Iran manufacturing groups at 2-digit ISIC (Rev.2). For this purpose a long run translog cost functional, flexible function form is selected on the theoretical basis. By using indirect seemingly unrelated regressions method, data at the mean of a representative establishment are chosen to estimate the minimum and the slope of <br />LAC. <br />The result shows that the economies of scale exists in all of the industrial groups and in the last year of this research (2001) all of them except the manufacture of non-metallic mineral products (lSIC3 were producing lower than optimal scale. The study of market structure shows that the most concentrated market of manufacturing groups are overlapping with the most potential groups for exploiting the economies of scale. Both of these reasons implies that the domestic market constrain acts as a barrier to gathering the benefits of economies of scale and necessitates the importance of applying outward oriented policies.
https://ier.ut.ac.ir/article_30854_9246fac28b021359e84d725eb5ed3236.pdf
University of Tehran
Iranian Economic Review
1026-6542
11
15
2006
01
01
A Fuzzy Approach for Projects Evaluation and Selection an Iranian Auto Manufacturer Case Study
171
187
30855
10.22059/ier.2006.30855
EN
Journal Article
2015
11
11
Evaluating and selecting alternatives investment projects needs considering all relevant and important aspects. In traditional methods, the focus is just on tangible monetary criteria. Also in the traditional methods, either all the information’s about factors must be known precisely or sufficient objective data must be available for applying probability theory. In this paper, a combinative approach is employed to integrate all monetary factors, subjective non monetary factors and also objective non monetary factors in decision making process of project evaluation and selection. In the proposed approach to deal with uncertainty in monetary criteria and also vagueness of human thought in subjective non monetary criteria, fuzzy cash flow analysis and multi criteria decision making method are applied, respectively. As a case study, this methodology has been applied for evaluation of an Iranian auto manufacturer’s projects. The results depict that the methodology can vastly help decision makers to evaluate projects under vague and uncertain circumstances considering all important criteria.
https://ier.ut.ac.ir/article_30855_78153b9ccfe78d62c472fe9cbd46b543.pdf