Search published articles
Showing 2 results for tabatabaienasab
Mr. Mohammad Sabbaghchi Firouzabad, Zohre tabatabaienasab, Dr Abbas Alavi Rad,
Volume 22, Issue 1 (Spring 2022 2022)
Abstract
The role of money in the design and implementation of monetary policies for price stability, especially since 2007-2009 global financial crisis, has been reintroduced as a major policy issue in both developed and developing countries. In this regard, the money demand function is one of the most important components of any monetary system, which plays a decisive role in the mechanism of transfer of monetary policy to the real sector of the economy. Therefore, in order to analyze monetary issues and to provide appropriate solutions for overcoming economic problems, it is necessary for the policymaker to have a correct understanding of the money demand function. This paper answers the question of whether sudden changes in money supply cause instability in money demand function. Hence, the present study, with Markov switching approach and using simple sum and Divisia, estimates the demand for money function in the Iranian economy during 1988q2 -2020q2 and evaluates its stability. The results indicate that demand for money function is stable in regime one but being in regime two and three, namely the average growth of money and the sharp growth of money, has led to instability in the demand for money function, and the diversion of the monetary policy objectives.
Mr. Ahmad Pourmohammadi, Dr Zohre tabatabaienasab, Yhya Abtahi, Dr Mohammad Ali Dehqantafti,
Volume 22, Issue 3 (Autumn 2022 2022)
Abstract
The 2008 global financial crisis and the new coronavirus disease (COVID-19) pandemic have attracted interest in the issue of fiscal policy. Since fiscal policy plays an important role in alleviating the costs of these crises, understanding the relationships between fiscal policy components is crucial and has important implications for choosing fiscal policies in the field of public economics. This study aims to examine the causal links between the fiscal policy components, i.e., government expenditures (current and development) and government revenues (tax and oil) in Iran, using quarterly data for the period of 1990:2-2019:1. For this purpose, first, we employ the time domain Toda-Yamamoto causality test to check the causal relationship among these variables. Then, due to the various characteristics of variables in the frequency bands, we implement a dynamic analysis through wavelet coherence approach and wavelet phase-difference in order to explore the joint time-frequency domain causal relationship between government revenues and expenditure categories. The results of the wavelet analysis show that the linkage between the government revenues and expenditures pairs is not the same across all time horizons and a strong heterogeneity in the revealed interrelationships is detected over time and across scales. Overall, the results reveal various causal effects and confirm the expenditure dominance hypothesis for oil revenue, and revenue dominance hypothesis for tax revenue at different frequencies.
