Journal of Economic Modeling Research

Evaluation of the international Islamic capital market behavior in three periods of pre-COVID-19, COVID-19 and post-COVID-19 based on multi-fractal analysis

Mahdi Ghaemi Asl

In this research, the behavior of the international Islamic capital market in the three periods before Corona, Corona and after Corona, as well as multi-fractal analysis is carried out on Sharia-compliant stock markets. Multifractal Detrended Fluctuation Analysis (MFDFA), Multiscale multi-fractal analysis (MMA), are the methods used in this study. We used the Dow Jones index data from 2011 to 2022, the variables are the emerging countries, developed countries, Asia Pacific, America and Europe. The research results shows that Corona has reduced the efficiency of all variables. In all periods, the variables are ineffective, except for the Asia variable in the pre-Corona period, developed countries and America in the post-Corona period. Also, all the variables had persistency in the Corona period. But in the pre-corona period, all the variables had an anti-persistency behavior, except for the variable of emerging countries, which had a persistence behavior, and the variable of Asia, which had a random behavior. In the post-corona period, all the variables have had an anti-persistence behavior, except for the variable of developed countries, which has had a random behavior.

Examining Parametric Reforms' Impact on Financial Stability in the Social Security Organization Using General Equilibrium Models Approach

alireza erfani

The aim of this paper is to examine the impact of parametric reforms on the financial sustainability of the Social Security Organization, the largest social insurance organization in the country. To this end, an overlapping generations general equilibrium model is employed. The issue is analyzed through four different scenarios. The results show that in the first scenario, increasing life expectancy by 3 years without changing the retirement age will increase the ratio of expenditures to resources of the Social Security Organization by approximately 2%. In the second scenario, increasing the retirement age by 2 years and reducing life expectancy by 1 year will decrease the ratio of expenditures to resources by about 0.8%. In this case, the share of retirees' consumption in production and the labor force participation rate will decrease by 5% and 3%, respectively. In the third scenario, raising insurance premiums by 2% will not cause significant changes in the ratio of expenditures to resources due to a reduction in labor supply. Finally, in the fourth scenario, increasing both the retirement age and life expectancy by 2 and 3 years, respectively, will raise the ratio of expenditures to resources of the Social Security Organization by approximately 2.4%.

Investigating the Impacts of ICT Imports on Renewable Energy Production: the case of Iran

mehdi nejati

The increase in greenhouse gas emissions is one of the crises in today's world. Because it doubles global warming and environmental pollution. The increase in greenhouse gas emissions has encouraged many countries to substitute renewable energy instead of fossil fuel. The effective use of green energy such as renewable energy and nuclear energy is highly dependent on the technology used in the production of this type of energy. For this reason, the aim of this study is to investigate the impact of importing information and communication technology goods on renewable energy production in Iran. In this research, has been used the Computable general equilibrium model based on the social accounting matrix of 2014. The results show that in all scenarios, the production of fossil electricity in both peak and base times, as well as the production of ICT goods, will decrease because with the release of the import of these goods, foreign ICT goods will replace domestic ones and the production of these goods will be domestic. Also, the production of other sectors has increased and the largest increase is related to the gas sector. By applying the first scenario (10 to 100% change in tariff, without change in the productivity of production factors related to the production of renewable energies), with the further reduction of the tariff, the production of renewable electricity will also decrease in both peak and base times, but when The fact that the import of ICT goods is accompanied by a 3, 5 and 7 percent increase in the productivity of the production factors related to the production of renewable energies (scenarios two to four) will increase the production of renewable electricity in the base load. The production of renewable electricity at peak load has decreased in all scenarios and the results do not change with the increase in efficiency. By reducing the tariff on the import of ICT goods, the amount of CO2 emissions will decrease. Also, as the productivity of the production factors related to the sector of renewable energy production increases, CO2 decreases to a greater extent. It should be noted that with the reduction of the tariff on the import of ICT goods, the price of the goods has decreased in the investigated sectors. As a result, reduce the pollution caused by the consumption of fossil fuels and use them optimally.

A Comparative Study of Insurance Penetration and Factors Affecting it in Developed and Developing Countries

samira motaghi

Purpose: The insurance penetration rate is one of the most important indicators used to evaluate the insurance industry of a country. This ratio is also a measure to compare the performance of the insurance industry between developed and developing countries. The aim of this research is to compare the insurance penetration rate and the factors affecting it in high and low income countries.

Methodology: The current research examines the effect of variables such as inflation rate, education, labor productivity, dependency ratio and income on the insurance penetration rate in the period 2011-2021 and using PMG and ARDL methods to derive short-term and long-term equations in 18 countries with income High and low income and the country of Iran pays.

Findings: The results obtained from the estimation of long-term PMG models in high-income countries indicate a positive effect of dependency ratio, income level and fertility level on the insurance penetration rate, as well as a negative effect of inflation rate and labor productivity on the dependent variable, also in selected countries with high income. All the variables, except for education and dependency ratio, which had a positive and significant effect on the insurance penetration rate, are statistically meaningless. On the other hand, the findings from the estimation of the long-term ARDL model in Kesho Iran show the negative impact of the inflation rate on the insurance penetration rate and the positive impact of the education level, income level and dependency ratio on the insurance penetration rate.

Real Interest Rate and Convergence of Banks' Efficiency in Provinces OF IRAN

parvaneh salatin

Interest rate is one of the most important effective tools in policymaking. It affects investments, stability, economic growth and the real sector of the economy. The main purpose of this study is to investigate the effect of real interest rates on convergence of banks' efficiency in provinces. The results using spatial econometrics during the period 1400-2011 showed that the real interest rate has a positive and significant effect on the efficiency of banks in the provinces. . The absolute convergence rate was 0.211 and in conditional models was 0.222 and 0.228, which shows that in conditional condition, the convergence rate of provinces was higher. With the introduction of real interest rates, the pace of convergence has also increased. In other words, 11.2% in absolute convergence mode and 22.2% and 28.2% in conditional convergence mode are resolved from the economic gap of provinces to stable state. Also, economic growth has a positive and significant effect and human capital and ICT have a negative and significant effect on the convergence of banks' efficiency in the provinces.

Analysis of the Network of Foreign Direct Investment Inflows

Sakine Owjimehr

In this study, considering the characteristics of complex networks such as dynamics and comprehensiveness in analyzing the behaviors of countries, the global network of foreign investment inflows consisting of 248 countries and trade territories in the years 2009 to 2022 was constructed, and network indicators including degree, closeness centrality, betweenness centrality, PageRank, hub, and authority were calculated. Then, the functional position of the top-performing countries based on the intensity and level of the obtained network indicators was analyzed and compared annually. The results obtained during the study period showed improvement in the degree, betweenness, and PageRank indices, which respectively indicate the number and diversity of communications, the share of information control among countries, and countries' efforts to use the influence of neighbors to reach polar and influential countries. The effect of increasing closeness centrality, which indicates the level of independence, on the main countries in the effective network has improved. Therefore, it is recommended that if countries seek to increase foreign direct investment inflows, they should plan in such a way that their network indicators, resulting from increased interactions and communications, are improved.