ORIGINAL_ARTICLE
Examining the Impacts of Zakat on Income Distribution in Iran;
From 2002 to 2012
Decent income distribution is the aim of Islamic economic system. Islamic school of thought introduces unfair income distribution as the basic source of economic problems. Zakat is the most important Islamic tax which has effective roll in arriving to fair income distribution. Therefore this research paper attempted to investigate the effects of Zakat on income distribution in Iran from 2002 to 2012. In this paper we used VAR method, impulse response function and variance decomposition for testing hypothesis. Results reveal that Zakat had significant effect on Gini coefficient in Iran and causes a decrease in inequality through that period.
https://iee.rihu.ac.ir/article_1154_434abcd6da491ccd43310a16ceebc4cb.pdf
2016-03-20
9
26
Zakat
Islamic Taxes
Income Distribution
Gini Coefficients
Vida
Varharami
vida.varahrami@gmail.com
1
Assistant professor at Shahid Beheshti University
AUTHOR
Jaber
Layegh Gigloo
layegh.jaber@yahoo.com
2
M.A in economics at Shahid Beheshti University
AUTHOR
Vahid
Layegh Gigloo
layegh.v@yahoo.com
3
M.A in management at Allameh Tabataba'i University
AUTHOR
ORIGINAL_ARTICLE
Investigating the Asymmetric Transition of Inflation between Consumer and Producer Price Indices in Iran: A Threshold Co-integration Analysis
Asymmetry in price transmission between producer and consumer price indices has important policy implications and welfare effects. In order to participate in this discussion, the aim of this study is to investigate the relationship between producer price index (PPI) and Consumer Price Index (CPI) in Iran using the novel approach for threshold co-integration by Hansen and Seo (2002) and Toda & Yamamoto (1995) causality test. In this regard, the long-term relationship between two variables using Engel-Granger co-integration test and the data from 1990 April to 2014 October are tested, and then using threshold vector error correction model (TVECM) the short-term adjustments is analyzed. The results indicate a positive long-term relationship between the producer and the consumer price indices and a unidirectional causality between producer price index and consumer price index, running from consumer price index to producer price index illustrating the demand side factor's role in inflation. According to the results, the short term dynamics has asymmetric adjustment and a model with two regimes was approved, so the short-term adjustments take place at different speeds depending on the deviation from long-term relationship.
https://iee.rihu.ac.ir/article_2169_c2d2cbb42d885e375a11bb4e2419cec4.pdf
2016-03-20
27
44
10.30471/iee.2024.1287.1179
Inflation
price index
asymmetric transmission
threshold model
TVECM
Seyed Mahdi
Mousavian
me.mousavian@gmail.com
1
PhD student in economics at University of Tabriz
LEAD_AUTHOR
Reza
Saghafi Kalvanegh
killvana@gmail.com
2
PhD student in economics at University of Tabriz
AUTHOR
Zana
Mozaffari
me_mousavian@yahoo.com
3
PhD student in economics at University of Tabriz
AUTHOR
احمدی شادمهری، محمدطاهر و محمد احمدی (1388)، «بررسی رابطه بین قیمتهای تولیدکننده و مصرفکننده (مطالعه موردی بخشی از محصولات لبنی در ایران)»، مجله دانش و توسعه (علمی و پژوهشی)، سال شانزدهم، شماره 28، ص77−
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مهربانی، وحید و محمدحسین قوام (1387)، «تورم مانع یا محرک رشد اقتصادی (شواهدی از اقتصاد ایران با تأکید بر تکانههای نفتی)»، فصلنامه راهبرد توسعه، شماره 15، ص37−
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36
ORIGINAL_ARTICLE
Studying the Factors Affecting Credit Risk of Bank Customers with Emphasis on Macroeconomic Factors in Iran using Survival Analysis Method
The aim of this paper is to identify factors that affect credit risk of bank customers (based on time to default approach) with emphasis on macroeconomic factors in Iran. This paper tries to find answer for these two questions. 1) What is the effect of individual variables and variables related to loan on credit risk? And 2) what is the effect of macroeconomic variables on credit risk? In this study, a random sample of 5316 customers who borrowed from Maskan Bank of Iran during 1388-1393 is used. The result of the model without macroeconomic variables indicates that loan amount, number of installments, marital status, education, age, job type and number of children have a significant effect on default risk of customers. The result of the model with macroeconomic variables suggests that job type and number of children don’t have significant effect on default risk. But interest rate variable has a significant effect on default risk of customers. The effectiveness of other characteristic variables is like model without macroeconomic variables. In this model macroeconomic variables such as inflation, unemployment rate, house price index growth and economic growth have a significant effect on default risk. Comparisons of Cox-Snell residuals for both models show that the model with macroeconomic factors has better performance than the model without them. Also measuring Harell’s C statistics for test data set indicates that the model with macroeconomic variables has more predictive power than the other model. So when banks want to predict the status of costumers accurately, they should pay attention to macroeconomic conditions.
https://iee.rihu.ac.ir/article_1156_0fc5982a748133c91f3e478ea2c707a1.pdf
2016-03-20
45
74
credit risk
Survival Analysis
Macroeconomic variables
Cox Model
Maskan Bank
Nahid
Rajabzadeh Moghani
rajabzadehnahid@gmail.com
1
* PhD student of Ferdowsi University of Mashhad
AUTHOR
Ahmad
Seifi
spring05@ferdowsi.um.ac.ir
2
Assistant professor at Ferdowsi University of Mashhad
AUTHOR
Mohammad Reza
Lotfalipoor
lotfalipour@um.ac.ir
3
Assistant professor at Ferdowsi University of Mashhad
AUTHOR
Mostafa
Razmkhah
razmkhah_m@um.ac.ir
4
Associate professor at Ferdowsi University of Mashhad
AUTHOR
ORIGINAL_ARTICLE
Threshold Effect of Inflation on Income Inequality: Smooth Transition Regression (STR) Model
Inflation is one of the most important factors in income inequality that its effects are vague and unclear theoretically and empirically. In this regard, present study attempted to examine the non-linear impact of inflation on income inequality in Iran. For this purpose, the Smooth Transition Regression (STR) and annual data from the period 1969-2013 have been used. The estimated Smooth Transition Regression (STR) model supports a nonlinear threshold behavior in the relationship between inflation and income inequality in the country in the structure of two regimes with a threshold level of about 14.68 percent. So that long-run inflation rate in the first regime had a negative impact on income inequality in the country, while in the second regime this effect is positive. Therefore hypothesis of a U-shaped effect of inflation on income inequality has been confirmed in the Iranian economy.
https://iee.rihu.ac.ir/article_1157_e9a69ebbc4552e41d2a687fbb1af09d1.pdf
2016-03-20
75
95
Inflation
Income Inequality
Iran
Smooth Transition Regression (STR) model
Aboulghasem
Golkhandan
golkhandana@gmail.com
1
PhD student of Lorestan University
AUTHOR
ORIGINAL_ARTICLE
Designing the Optimal Banking Interest Rate Model in Iran
In this research, first six areas including Islamic banking, the main laws of the country, macroeconomic trends, supervising regulations and risk management, management of resources and costs and the structure of the banking market have been investigated. Then through pathology of current method of profit payments a new model was designed for the elimination of this defect. In this method, with considering record profitability and efficiency of each bank, a rate is determined as a percentage of the weighted average of realized profit of the previous financial period, and was considered as a criterion for prepayment rate, on account interest and advertising. Also, realized profit as a share of total profitability of the bank will be allocated to depositors.
Although, in this model, the prepayment rate of bank should be determined by its disposal but the bank cannot change it without rules. Improving the popular belief of people to the banking system, leading banking competition toward performance, decreasing interest rate, reducing savings-investment gap and more freedom in the banking market are the advantages of this model.
https://iee.rihu.ac.ir/article_1158_1102cae4c5be6541cd6eb563fe6096bb.pdf
2016-03-20
97
119
Interest Free Banking
Banking Interest Rate
On-Account Profit
Mutual Interest
Iran's Banking System
Mohammad Javad
Mohagheghnia
mgmohagh@yahoo.com
1
Member of board of directors at Bank Refah Kargaran
AUTHOR
Mohammad Ali
Dehghan Dehnavi
dehghandehnavi@gmail.com
2
Faculty member of Islamic Banking Dept. at College of Management and Accounting, Allameh Tabataba'i University
AUTHOR
Mohsen
Rahmatinia
mohsen_rahmati_nia@yahoo.com
3
M.A student of Allameh Tabataba'i University
AUTHOR
ORIGINAL_ARTICLE
Agency Theory, Capital Structure and Firm Performance in Tehran Stock Exchange
Agency conflict has been recognized as one of the determinants of capital structure of firms based on the agency theory. Financing decisions have been recognized as one of the strategic decisions in the firms that are affected by firm’s governance. The purpose of this paper is to empirically investigate the impact of capital structure choice on firm performance in Tehran stock exchange. Fixed effect panel regression model is used to analyze eight years of data (1385-1392) on 158 listed firms, to find the relation between leverage and firm performance after controlling for factors such as size, age, tangibility, growth, liquidity and advertising. In order to analyze the relation between leverage and firm performance, we considered two assumptions: negative relation between long term and short term debt ratio with return on equity (ROE) /return on assets (ROA). Empirical results suggest that leverage has a negative influence on financial performance of Iranian firms, which is in contrast with the assumptions of agency theory as commonly received and accepted in other developed as well as emerging economies. Consequently, postulates of agency theory have to be seen with different perspective in Iran given the underdeveloped nature of bond markets and dominance of state-owned banks in lending to corporate sector.
https://iee.rihu.ac.ir/article_1159_3761ba271625fa516fb6a3f6aa7b9c81.pdf
2016-03-20
121
142
Agency Theory
Capital Structure
Firm Performance
Tehran Stock Exchange
Seyed Hadi
Arabi
sharabi@gmail.com
1
Associate professor of economics at the Research Institute of Hawzah and University
AUTHOR
Reihaneh
Rabiee
r.rabiee@ut.ac.ir
2
PhD student in financial law at Pardis Farabi of Tehran University
AUTHOR
ORIGINAL_ARTICLE
Analysis of macro strategies to prevent financial crises In Iran's economy
Financial crisis in the economic and financial systems in the world have always prompted researchers to identify their different causes, encourage them to perform pathology for this crisis and in the next step provoke them to face with them. In a crisis, the different components of the system due to defects in other components are impaired. Since the financial crisis is a phenomenon that occurs at a global level, therefore, countries try to do some precautionary measurement before the crisis emerges. In this paper first we study the experiences of different countries and then the causes of the crisis in those countries are explained and their strategies and measurements that these countries have used are examined and finally we reviewed and ranked strategies for prevention of financial crises in these country by the Group Analytic Hierarchy Process (GAHP) method. Based on the results from the viewpoint of Iranian experts the best overall strategy for Iran's economy is strengthening of regulations, procedures and corporate governance and subsequently prevent fluctuations of the business cycle. In operational strategies, increasing the capital requirements of financial institutions, especially banks, have been considered as the first strategy and then risk management in financial institutions is of utmost importance.
https://iee.rihu.ac.ir/article_1160_8ec032adc4f498c4ee276a7ffc1abbef.pdf
2016-03-20
143
175
Financial Crisis
Risk Management
Financial and Economic Stability
Group Analytic Hierarchy Process (GAHP)
Hamed
Tajmir Riahi
hamedtajmir@gmail.com
1
PhD student in financial management at Imam Sadigh University
AUTHOR
Mohammad
Rahmati
m69rahmati@gmail.com
2
M.A student in financial management at Imam Sadigh University
AUTHOR
Farzaneh
Asharioun Ghomizadeh
ghomizadehfarzaneh@yahoo.com
3
M.A student in financial accounting at University of Tehran
AUTHOR