Financial Economics
Year:2013 | Volume:7 | Issue:25|Papers Count:8

Government financing is one of the most important issues that any economies have been faced with it. In most Economics systems, the government can only finance their expenditure from taxes. In this context, very important question have been concerned by economists. The most important question is that Taxes could levied on which goods, with which methods and which rate? Could we tax the money as a commodity? The main purpose of this paper is answer to mentioned two questions using algebraic and optimization methods.Frank Ramsey’s paper (1927) and Keynes’s general theory have been used for answer the first question. In order to answering the second question, a monetary overlapping generation models has been applied. In addition, based on designing the general equilibrium model, we analyses the impact of the time preference rate as a one of the very important economic parameters, on the key economic variables.The result of the designed model in different scenarios shows that the scale of economics will be small if the consumption in the present time be preferred to future time. The economic agents prefer to consume the present Disposable income rather than save and consume it in future.

The Underground Economy is a phenomenon that all countries have to deal with it. The researches display that the size of activities in the underground economy are fairly large as well as, these activities are the causes of most economic disturbances; therefore, its estimation is important in the tax gap realization, the effectiveness of monetary and fiscal policies, economic growth and income distribution aspects.In empirical section, we estimated first the size of the underground economic activities for Iran from 1352 to 1387 by using exploratory factor analysis. Second, we have investigated the impacts of some variables such as direct tax burden, indirect tax burden, gross fixed capital formation, money supply, GDP, and direct tax rate of activity on the underground economy by econometric model. The empirical results indicate that underground economic are equal to 26.77 percent of GDP, respectively. The model showed that the long-run GDP growth shocks and growth of gross capital formation have a negative effect on the growth of the underground economy. And the shock of money supply growth, load growth in indirect taxes, direct taxes and the growth rate of load growth activities a positive effect on have underground economy. That among these factors, GDP growth has had the greatest influence on the underground economy.

In many studies, have shown the relation between growth national economy and expansion of insurance markets. These markets cause to growth of economy by collecting savings to lead in capital markets. In recent years, privatization policy of insurance industry brisk up and private insurance companies act with public sector in insurance market.The aim of this paper is to recognition of effective components of life insurance and analysis of demands̒ act. To this aim, a sample has studied that include 500 buyers of life insurance in karafarin insurance company(one of the private insurance companies) this research shows theoretical concepts and Iranian & foreign studies about life insurance demand. general econometrics method (eviews) and ols method used to estimate curve demand then the results of this study has analyzed. at the end, on based of these findings, demand features has recognized to get new ways of marketing life insurance.

Investment is one of the effective factors on economical growth and development. So paying attention to the growth and development of private investment is very important In addition to corporate taxrevenue source for the government, is impacton private investment. In this study the effect of corporate tax on private investment has been investigated. The data were collected through library and they were based on time series data taken from central bank and Organization the tax affairs.They were evaluated through a neoclassical investment model and and the effect of explanatory variables on governmental section, corporate tax, inflation, interest rate and two dummy varibles using the econometrics metoth ARDL, according to Schwarz Bayesiancriterionusingboundsapproach for the economy of Iran were assessed.corporate tax, inflation and interest rate had a negative relationship with private investment but the investment in governmental section, facilities, Adjustment policies and Currency Reserve Fund had positive effects on private investment. Regarding the reversed relationship between investment and corporate tax, applying tax exemption in corporate tax discussion, setting the rate of depreciation more than the real economical deprecation rate, speeding up the acceptable depreciation using the rate of decresing tax on companies, after several increasing rate and on the whole reassessment of that descrease interest rate can be effective in encouraging investment.

Nowadays, earning maximum foreign exchange through export goods and services are main economic policies of countries, because, if a country faces with shortage of foreign exchange reserves, it must ask other countries for loan to fulfill it' s import needs. then, it can be saied that the policy of determining exchange rate regulates entry and exit of exchange in national econom.Therefore, through applying proper policies, the government should take the control of supply and demand conditions in the exchange market. given the importance of exchange and the policies affecting it, in this study it is aimed at reviewing the impact of monetary policy on exchange from 1972 to 2010. To this end using Auto Regressive Distributed Lag model the hypothesized model was estimated. the findings of this study show that there are a positive and significant effect of the domestic money and domestic price and negative and significant effect of national income on the exchange rate both in long term and short term.As another variable shows in this study, unstable component of real exchange rate indicated that this variable has a negative and significant impact on real exchange rate, but the impact of this variable is meaningless in long term.

Given the important of Electricity energy in improvement and progress of societies, the role of electricity energy demand in policy making and decisions about production, transition and distribution of this critical energy, the study about electricity energy demand and specially price and income elasticity of demand is essential.Electricity energy compared to other energy carriers also have effective role in production and consumption and have important role in social /economic decision making. So use the modern technology in production of appliances for optimizing consumption create more welfare for families.This study by using Kalman filter technique is intended to estimate the price elasticity change trend of electricity demand in residential sector of Iran and found the rate of influencing electricity demand from price policy and regarding to eliminating invisible factors and the other factors from the model, used kalman filter also to avoid error estimate of coefficients.The result of this study show that the price elasticity of electricity demand change over time and absolute value of price elasticity of electricity demand during the period of the study reduced and from close to one in 40 decade reduced lower than one in 90s.

If the definition of investment is cancelling the current consumption to access consumption possibility in future, the recognition of opportunities that an investor could scarify a certain value from them to get a certain value which is suitable makes the high importance in investment affair.In the research, it was calculated and compared the return and risk of 4 opportunities in known investment (stock, housing, gold and foreign exchange) during 2001-2010 by using from the taken data from central bank and Iran statistic center. The data from SPSS was analyzed by suitable statistical tests execution.The results show that investment in stock had the most return and also the highest risk for investors in the period. The financial evaluation index conclusions (Sharp & Treynor) explain more desirability of stock index in compare with the other opportunities.

Nuclear energy is one of the resources that plays an important role in electricity generation. The factors that are causing nuclear energy one of the secure and accessible carriers energy in world’s are analysis of process the level of demand and supply energy sources in the world, attention to process the depletion of fossil resources in the future decades and benefits of nuclear energy environmental. Therefore survey of nuclear energy effects on economic growth are particular importance to understand the reason for investing in this industry. This study examines the effects of nuclear energy consumption growth on economic growth in both chosen group of developed and developing countries using pool data approach with the period 1991-2011. The results indicate that a positive impact in nuclear energy consumption growth on economic growth in the developed countries and the lack of impact between nuclear energy consumption growth and economic growth.