Journal of Economic Research
Year:2023 | Volume:58 | Issue:1|Papers Count:6

Unidimensional inequality has been estimated many times; but individual well-being is a multi-dimensional concept that depends not only on income but also on other benefits such as education, health, and housing. The main aim in this research has been to evaluate the inequality concerning commodity groups in the household basket and compare the multi-dimensional inequality with that of one-dimensional (total expenditure) inequality for urban, and rural areas as well as the country as a whole. Therefore, the multidimensional Gini coefficient is estimated according Kumar Banerjee (2010) during the period 1984-2021. Doing so, we have used the household income-expenditure microdata collected in the 9 commodity groups of food, clothing, housing, services, health, recreation and entertainment, education, transportation and communication, and others by Statistical Center of Iran.  The results indicate that the multi-dimensional inequality trend have been increasing for urban and rural so the country as a whole, while the one-dimensional expenditure(unidimensional) inequality shows a decreasing trend and the gap between trends were also increasing. The multidimensional inequality headways been more than that of unidimensional inequality level as has been expected, which more corresponds with real evidence in Iran.JEL Classification: D3, I14, I24, I3

The present study has evaluated the impact of logistics hub formation in Isfahan province on this province. In this regard, by designing and developing a two regional Computable General Equilibrium (CGE) model (Isfahan province and other national economies), the economic effects resulting from the reduction of transportation cost (logistics cost) as a result of applying this logistics policy on this province has been evaluated. In this model, which is widely based on the theory of New Economic Geography (NEG), there are 3 basic assumptions including: 1- Iceberg-type transportation cost; 2- the utility function of Dixit-Stiglitz (1977) type and 3- the production function of the industrial sector with increasing returns technology has been taken into account. The main database used in the estimation of this model is the two-regional Social Accounting Matrix (SAM) obtained by adjusting the two-regional input-output table calculated by the researchers with the new mixed CHARM-RAS method.The findings revealed that the establishment of a logistics hub in this province leads to industrial agglomeration, increase in employment, total gross production and labor productivity. Therefore, the application of this logistics policy has a positive economic effect on the region - without considering the environmental effects of such agglomeration.JEL Classification: D58، E60، O18، R13

It seems that heavy economic sanctions have been the source of the instability of the unofficial foreign exchange market in the last two decades. This instability can be the result of the high resistance of turbulent shocks in the direction of damping towards the long-term average of the exchange rate, which shows the high persistence of the process. Such stability in unofficial foreign exchange market fluctuations can be caused by large changes in long-term variance due to structural breaks or the existence of long memory in exchange rate returns volatility. this paper seeks to provide a perspective of these two modes and their different aspects on the volatility of the unofficial exchange rate. For this purpose, the persistence of unofficial exchange rate volatility in three cases; We examined original data, original data with structural breaks and refined data from mass jumps and with structural break in combination with exponential (GARCH and IGARCH) and hyperbolic (FIGARCH models) autocorrelation functions. The results of this research show that the unofficial foreign exchange market is affected by collective jumps and sudden changes in the variance of returns. Also, based on the information criteria, the model compatible with the data is the FIGARCH(1,d,1) model with the original data and exposed to double structural failures in the variance, which indicates the extreme instability of the unofficial foreign exchange market and the impact of structural failures caused by sanctions mainly It refers to long-term volatility or unconditional volatility. This model clearly shows the unilateral withdrawal of the United States from the JCPOA and the return of unilateral sanctions after 2018. The uncertainty in Iran's unofficial foreign exchange market is more severe than in 2011.JEL Classification: C63, D02, D44, E44, E52, E58

In addition to intensified nonoptimal consumption, the accelerated rise of fuel consumption in the transportation sector is also followed by other hazards in domains such as the environment and national energy security and supply. Therefore, policymakers are particularly interested in improving the productivity of energy consumption with the intention of fuel saving. Such an approach, however, is faced with the rebounded effect in reality, and its positive impacts on reducing energy consumption are counteracted to a large extent.Aiming to estimate the direct rebound effect of improving gasoline consumption efficiency among urban households in four classes of consumption (less than 60 L, 60 to 80 L, 80 to 120 L, and more than 120 L) from 2017 to 2020, the present study applies the almost ideal demand system (AIDS) model and the seemingly unrelated regression (SUR) method.The results indicate that the direct rebound effect of improving gasoline consumption efficiency in four classes of consumption, i.e., less than 60 L, 60 to 80 L, 80 to 120 L, and more than 120 L is 0.73, 0.94, 0.63, and 0.47, respectively. These findings imply that the higher the non-rationed gasoline consumption, the more the saving. In fact, the gasoline pricing mechanism, which has been subject to ongoing criticism, is a significant factor in the extent of the rebound effect, and further amendments are required in this regard. JEL Classification: K32, C32, H20, D61

In this study, we introduced various mechanisms that the central bank can use to predict the demand for liquidity in the interbank market. Simulating standing facilities and revenue in each mechanism from the 14th of October 2020 to the 25td of October 2022 in Iran showed that the higher the trading cost, the lower the volume of transactions in the interbank market, and most banks turn to standing facilities to meet their liquidity needs. The degree of interdependence of reserve requirements between banks, the uncertainty of banks regarding their private reserve requirements, and trading costs in the interbank market play a key role in choosing the best and most efficient mechanism.  JEL Classification: C63, D02, D44, E44, E52, E58

The housing sector has always played a crucial role in the economy, with its fluctuations exerting significant effects on various economies. Prior to the 2007 financial crisis, standard models were commonly employed to explain price changes. These models assumed that agents were rational and well-informed, disregarding factors like irrationality and the heterogeneity of individuals that could contribute to such crises. However, agent-based models offer a different perspective, viewing the economy as a complex system with heterogeneous agents possessing limited information, engaging in interactions with each other. As a result, this study aims to evaluate a spatial agent-based model, specifically developed to analyze the housing market in Tehran. The simulation's results over an eleven-year period revealed that the growing demand from young households with limited savings for residential units under 100 square meters significantly drove up the prices of these particular units, outpacing other residential properties. Moreover, the findings indicated the higher growth of housing prices in the central areas of the city, primarily triggered by the influx of young households into these regions, seeking investment opportunities.  JEL Classification: R31، C61، C25