Journal of Fiscal and Economic Policies
Year:2021 | Volume: | Issue: |Papers Count:6

Due to the fact that in recent years, Iran has faced severe fluctuations and shocks from macroeconomic variables, the household utility has changed. Undoubtedly, without studying and researching the effects of these shocks on household utility, appropriate solutions cannot be provided to reduce its adverse consequences. Therefore, in the first stage, this study has extracted the household utility function during the years 1996-2020 and then with the help of the ARDL model has investigated the long-Run effects of macroeconomic variables on it. The results of extracting the utility function show that the utility of the household has decreased during the research period and the welfare of the household has declined. Also, the results showed that the effect of economic growth rate (0. 29) and oil prices (0. 33) on household utility is significant and positive and the effect of inflation rate (-0. 11) on it is negative and significant. Also, the effect of the tax on utility is not significant. Accordingly, given the decline in utility over the past few years as a result of economic shocks and fluctuations, the government needs to pay special attention to this issue.

A major factor affecting the economic development of countries is the growth of their foreign economy and international trade. That is, extensive trade is an important contributing factor to national economic growth. Therefore, the application of the concepts of digitalization and information technology— outcomes of the fourth industrial revolution— in the management of service and manufacturing companies has become a hot topic. The advent of e-commerce has driven the business community to expect transparent and predictable processes concerning customs and faster clearance of goods. This study aimed to present a model for assessing the potential of the Iranian Customs Organization to join the Fourth Industrial Revolution. This research was conducted using a qualitative research design with an exploratory approach. The research population consisted of 12 university professors, specialists, and managers working in the field of international trade and customs. The samples were selected through purposive sampling. The research tool was an interview, which continued until data saturation. The interviewees were asked to respond to five open-ended questions. The validity and reliability of the interview were tested based on acceptance criteria. This research used five out of the ten acceptance criteria for qualitative tools, including investigator responsiveness, methodological coherence, sampling proportion, finding repeatability, and expert feedback. The interview data were analyzed using MAXQDA with a grounded theory approach. The findings indicated that the use of advanced technologies, facilities and infrastructure, cooperation and interaction, policy-making and laws, management and planning, international and extra-organizational factors, and organizational structure are the main factors affecting the customs organization in terms of its transition to the Fourth Industrial Revolution.

This paper investigates the effect of inflation on financing of private sector activities by the banking system among developing countries (2002 to 2019). 79 countries have been selected as a sample and are divided into four groups according to the Human Development Index. The results of estimating the panel regression equations show that inflation has a significant negative effect on financing of private sector activities by the banking system, and this effect is stronger for countries with middle development. The impact of education, governance, information and communication technology and economic openness have also been positive and significant.

In the stock market, there are different types of information (related or unrelated) and rumors that the source of this information can be audit reports of companies, shareholders, analysts (fundamental and technical) and social networks. Due to the importance of this information, different people with different perceptions may show different reactions and behaviors. The main purpose of this study is to investigate the effect of untrue news and information on the decision of investors and buyers of shares in the Tehran Stock Exchange. News and information in three subjects: political, economic and industrial, classification and data and information required by a researcher-made questionnaire (after validation and reliability) were collected in a statistical population of 295 people. Next, the effect of each type of news on investors' stock decisions are estimated by a multivariate regression model using the ordinary least squares (OLS) estimation method. The results show that unrealistic political, economic and industrial news and information have a significant effect on the decision of investors and stock buyers. It was also found that investors' decisions in stocks are most influenced by unrealistic political news and information compared to economic news and industrial news. Economic and political uncertainty makes it difficult to predict profitability and decision-making in commercial and non-commercial environments, disrupting making decisions about production and investment. Given the negative impact of economic policy uncertainty on investment, it is necessary for the government and the central bank to adopt appropriate policies while reducing fluctuations, to establish institutions and risk hedging instruments to reduce the turmoil caused by unrealistic economic and political news. And take action on risk management in this regard.

One of the most significant guiding criteria in project design and implementation is sustainable development. Banks play a critical role in environmental protection and the transition to a green economy. Green financing is an innovative financial tool that aims to achieve ecological balance while promoting economic growth. The current study intends to construct and analyze a project financing model by allocating bank resources to accomplish sustainable economic development in Iran through a three-step method. In the first step, this study used a data-based technique to identify 77 components in 21 categories while interviewing 16 experts and coding. Then designed the relevant model and explained the hypotheses. The second step used the structural equation modeling method to evaluate the model fit and test the hypotheses. Finally, the components of green financing were prioritized using the interpretive structural modeling method. According to experts, the findings show that extracted components have a direct and significant impact on the green financing of projects. Furthermore, the Iranian banking industry's main aspects of green financing are currently at a low degree of readiness. As two significant components, increasing recognition of the needs for green projects and green targeting of banks based on their purpose plays a vital role in operationalizing the green financing of projects by allocating bank resources to promote sustainable development.

Evidence shows that some market theorists think of it as completely coincidental. On the other hand, some people assume that the market is completely certain. t can be said that both groups are somewhat right, but the results that result from the overlap of both ideas are different from the expectations of both groups. The capital market is not well explained by normal distribution and random patrols, and the efficient market hypothesis is the dominant hypothesis for market performance. in this study, with a brief overview of the efficient market hypothesis and its inefficiency, the fractal market hypothesis is proposed as an alternative to this hypothesis. Therefore, in this study, the study of multifractal characteristics, efficiency and cross-sectional correlation in Tehran Stock Exchange during the period 1390-1399 and in daily intervals has been tested to determine whether the total price index of Tehran Stock Exchange is fractal in its behavior or No. To achieve the above goal, the estimation of the de-trended correlation model has been used. The findings of the above tests indicate that the total price index of the Tehran Stock Exchange has a multi-fractal feature and experiences a turbulent and definite process. This indicates capital market inefficiency and is also effective in long-term forecasting due to the presence of long-term memory.