Efficiency in agricultural production is indicative of the efficiency level of farm households in their farming activities. Farmers in developing countries do not make use of all the potential technological resources, thus making inefficient decisions in their agricultural activities. Herein, technical efficiency in relation with the production of three types of rice crop (Boro, Aus and Aman) was evaluated, with some determinants of technical efficiency identified, in Bangladesh. It was attempted, throughout this study, to access the status of technical efficiency in rice production in Bangladesh for panel data while using the STOCHASTIC Frontier Production MODEL with either of truncated normal or half-normal distributional assumptions. Both time-variant and time-invariant inefficiency effects MODELs were estimated, one at a time. Collected data from agricultural sector pertaining to three main rice crops in Bangladesh for the period of 1980 to 2008 were made used of throughout the study. The results revealed that technical efficiency gradually increased over the reference period with the half normal distribution being found preferable to the truncated normal distribution as regards the technical inefficiency effects. The value of technical efficiency was found high for Boro rice while low for Aus in comparison with Aman rice in Bangladesh for both distributions in either of time-variant or invariant ones. It was observed that the most efficient rice production system has occurred for the case of Boro with a technical efficiency of 0.98. Year wise mean technical efficiency increased during the reference time periods.

Banking industry, as one of the important financial intermediation industries in Iran’s economy, faces the critical challenge of delayed loans. The existence of delayed loans decreases banks liquidity resources and their lending power. As a result, in recent years, Iranian banks have tired to change their asset portfolio from business loans to interbank loans to confront with their credit risk. Because of the strong relation between banking industry and other economic sectors in Iran, I try to analyze the reaction of macroeconomic variables (such as production and inflation) and banking variables to the shocks of delayed loans. To do so, I use annual statistics of the economic variables between 1981 to 2013 as well as calibration and Bayesian MODEL to extract the value of DYNAMIC STOCHASTIC general equilibrium (DSGE) parameters. Results show that the theoretic MODEL is compatible with the economic realities.In the other, words investment and production decrease and inflation increases as delayed loans increase. Alternatively, investment and production increase and inflation decreases by increasing interbank loans.

The labor market, as one of the four markets, plays an important role in economic growth and development. So review developments in the labor market because of its close relationship with developments in other sectors is of great importance. This study tries to examine the DYNAMICs of the labor market by adjusting for a New Keynesian DYNAMIC STOCHASTIC general equilibrium MODEL for the Iranian economy. After the MODEL was solved, the obtained equations were linearized and their parameters were estimated using the economic data of Iran (2005-2017) by the Bayesian method. Comparing the MODEL's moments with the economic momentum indicates the success of the MODEL in real-world simulation (production, consumption, investment, unemployment, and participation rate). Impulse Response Functions Survey shows that participation rates are consistent with cyclic behavior. On the other hand, in response to shocks (monetary, oil revenues, government expenditures, and public sector employment), increased employment, but the unemployment rate has changed slightly due to the change in the participation rate and the change in the size of the active population, which represents the sustainability of the unemployment rate.

This paper develops an algorithm for finding the DYNAMIC shortest path from the source node to the sink node in STOCHASTIC DYNAMIC networks, in which the arc lengths are independent random variables with exponential distributions. In each node there is an environmental variable, which evolves in accordance with a continuous time Markov process. The parameter of the exponential distribution of the transition time of each arc is also a function of the state of the environmental variable of its initiating node. It is also assumed that upon arriving at each node, we know the state of its environmental variable and also the states of the environmental variables of its adjacent nodes. Upon arriving at each node, we can move toward the sink node through the best outgoing arc or wait for encountering the better state of its environmental variable, which reduces the expected transition times of the outgoing arcs. In this paper, we apply the STOCHASTIC DYNAMIC programming for finding the DYNAMIC shortest path from the source node to the sink node by obtaining the optimal strategy of movement in each node of the network.

Goal: In this paper we try to present a version of the standard New Keynesian MODEL with a real labor market for which we notice to the both side of labor market (supply and demand) for defining unemployment...

MODELing and evaluation of capital asset pricing is one of the most important branches in financial economics and economic growth. Consequently, development of countries’ stock market can play a significant role in optimal allocation of financial resources. The main purpose of this study was to MODELing capital asset pricing in a quantitative general equilibrium MODEL with growth options for intangible capital. This article was thus MODELed based on the component of long run risk, intangible capital and with recursive preferences due to the failure in predicting conditional capital asset pricing MODELs(CCAPM). The framework thus explains the observed difference between the book-tomarket ratios by intangible capital. In this MODEL, growth stocks are of lower exposure to aggregate productivity risk than value stocks. This article also explains the DYNAMICs of consumption and investment within the framework of the general equilibrium for Iran's economy. The findings show that young firms have idiosyncratic volatility more than older firms and the relationship between book-to-market ratio and aggregate productivity growth is negative. In other words, aggregate productivity growth has a different effect on firm heterogeneity at the firm age and capital age.

Although stock market bubbles play an important role in determining stock price and economic fluctuations, their explanation based on fundamental principles of the economy is a challenging task. The purpose of this paper is to identify the factors shaping the price bubbles of the Tehran Stock Exchange according to a Bayesian DSGE MODEL in the real business cycles framework. Stock price bubbles in this MODEL appear endogenously as a positive feedback mechanism that is supported by optimistic beliefs. Based on the obtained results, the sentiment shock was introduced as the most important source of bubbles fluctuations followed by fluctuations in the stock price. This shock reflects households’ beliefs about the relative size of bubbles and is passed to the real economy through credit constraints. This shock also expresses a large part of the fluctuations in output, consumption, and investment. Also, the labor supply shock and the investment-specific technology shock had a dominant role in creating employment and investment fluctuations, respectively.

A DYNAMIC STOCHASTIC General Equilibrium (DSGE) MODEL is developed to study monetary business cycles impacts of volatilities of oil revenue and money supply on macroeconomic variables in Iran. The results show that 0.15 percent deviation from the trend of steady state inflation is explained by changes in oil revenue when it is accompanied by change in money aggregates. However, if such changes in oil revenues are not financed by the central bank, inflation deviates only by 0.1 percent. The results reemphasize the fact that money is neutral in a non-sticky price framework and only affect output and employment by 0.05 and -0.01 percent respectively.

The identification and explanation of the relationship between inflation and unemployment in the country’ s economy has a special place in the process of economic and political decision-making. Assessing the relation between inflation and unemployment can help policymakers and economists to assess economic performance. Phillips curve is one of the most famous relationships in the macro economy which explores the relation between inflation and unemployment. The New Keynesian Phillips Curve was formed in the 1990s based on nominal rigidity and rational expectations, and has been widely used in DYNAMIC inflation MODELs and in the study of monetary policy. This study estimated a Hybrid New Keynesian Phillips Curve in Iran between years 1995: 1-2017: 4 using a DYNAMIC STOCHASTIC general equilibrium MODEL and exploring the effects of technology, cost push, government expenditures, oil, and monetary shocks on inflation. The results of this study showed that the proposed MODEL simulates the periodic behavior and variations of the variables as well. Also, government expenditure, cost push shocks increased inflation and technology, oil, and monetary shocks decreased inflation.

This paper is aimed to design a DYNAMIC STOCHASTIC General Equilibrium in an Islamic framework for Iran. For this purpose an Islamic policy instrument, i.e. The share of government participation in capital funding (MUSHARAKA) is substitute for the interest rate. Then an Islamic policy rule is substitute for Tailor rules in which MUSHARAKA rate will respond to GDP and inflation fluctuations. The results reveal that with the new policy rules, the impact of economic shocks on both GDP and inflation fluctuation will decrease. Then the optimal Islamic (MUSHARAKA) rule is derived. The coefficients of optimal policy rules indicate that monetary authority should respond equally to inflation and the GDP gaps. Therefore, we can conclude that the instrument introduced in this MODEL is quite capable to confront economic fluctuations. So it can be used as an alternative superior instrument for implementing the stabilization policies.