GAME THEORY APPROACH ON DETRMINING EXCHANGE AND WAGE RATE: EMPIRICAL STUDY IN IRAN

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ABDOLI GHAHREMAN; GHOLAMI AHMAD

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Journal: Journal of Economic Research Year:2012 | Volume:46 | Issue:97 Page(s): 85-117

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Information Journal Paper

Title

GAME THEORY APPROACH ON DETRMINING EXCHANGE AND WAGE RATE: EMPIRICAL STUDY IN IRAN

Author(s)

ABDOLI GHAHREMAN | GHOLAMI AHMAD | Issue Writer Certificate

Keywords

WAGE RATEQ2

EXCHANGE RATEQ2

NASH-RULE EQUILIBRIUMQ2

Abstract

In Iran’s system of tripartite collective bargaining, does the wage-policy maker consistently react optimally to the best move made by the EXCHANGE RATE-policy maker (Nash-rule) or only to the state of economy (non-Nash rule)?. This paper not only investigates the nature of the political game (Nash rule against non-Nash rule) but also estimates some structural parameters by using 2SLS method and considers various economic scenarios for different bargaining conditions. The results indicate that the NASH-RULE EQUILIBRIUM is unstable and thus the non-Nash rule becomes more meaningful. Under the non-Nash rule, the simulated wage growth exhibits a counter-cyclical pattern and increases with the union of workers’ bargaining power. The government’s role appears to strike a balance between the interests of the employers’and the employees. Consistent with actual observations, the simulated exchange-rate appreciation has acted as a complement to wage growth from 1360 to 1385.

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APA: Copy

ABDOLI, GHAHREMAN, & GHOLAMI, AHMAD. (2012). GAME THEORY APPROACH ON DETRMINING EXCHANGE AND WAGE RATE: EMPIRICAL STUDY IN IRAN. TAHGHIGHAT-E-EGHTESADI, 46(97), 85-117. SID. https://sid.ir/paper/11972/en

Vancouver: Copy

ABDOLI GHAHREMAN, GHOLAMI AHMAD. GAME THEORY APPROACH ON DETRMINING EXCHANGE AND WAGE RATE: EMPIRICAL STUDY IN IRAN. TAHGHIGHAT-E-EGHTESADI[Internet]. 2012;46(97):85-117. Available from: https://sid.ir/paper/11972/en

IEEE: Copy

GHAHREMAN ABDOLI, and AHMAD GHOLAMI, “GAME THEORY APPROACH ON DETRMINING EXCHANGE AND WAGE RATE: EMPIRICAL STUDY IN IRAN,” TAHGHIGHAT-E-EGHTESADI, vol. 46, no. 97, pp. 85–117, 2012, [Online]. Available: https://sid.ir/paper/11972/en

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