Journal of Economic Modeling Research

This study examines the long run relationship between the efficiency component (good market efficiency and labor market efficiency) in the global competitiveness index and the variables of economic success (economic growth and unemployment) by using new econometric methods in selected countries of Asia with the average upward Global Competitiveness Index. This study, in the framework of the Panel Vector Error Correction Model (PVECM), examines the long run relationship between variables over the period 2008-2016. Estimation of long run coefficients by using Dynamic Ordinary Least Squares (DOLS) and estimating error correction temr coefficients by using the Pool Mean Group Method (PMG) and Panel Vector Error Correction Model has been done. Estimations of the coefficients of the variables of the good market efficiency and labor market efficiency by using DOLS method show that the effects of good market efficiency and labor markets efficiency on the economic growth in the long run are positive and significant. The impacts of good market efficiency and labor market efficiency on unemployment in the long run are negative and significant. Also, the results of estimating logarithmic coefficients in the DOLS method show that the most effective variable on economic success variables (economic growth and unemployment) is related to good market efficiency. The estimation of the coefficients of error correction term by using the PMG and PVECM method show that when the economic growth rate is dependent variable, since the coefficient of error correction term for this variable is negative and significant, therefore, There is a long run relationship between the rate of economic growth, good market efficiency and labor market efficiency. When the unemployment rate is dependent variable, since the coefficient of error correction term is negative and significant for this variable, there is a long run relationship between the unemployment rate, good market efficiency and labor market efficiency.

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.

Due to the undesirable phenomenon of graduate unemployment and its negative effects, Addressing the issue of how to major choice is of particular importance. The main question of the research is whether the existing signals of choosing a field have been effective in guiding people in accordance with the needs of the labor market? The method of this research is descriptive-analytical; It has been a combination of documentary studies, qualitative statistical analysis (descriptive statistics) and analytical statistics (cross-sectional econometrics). The findings of this study, which was conducted using the data of the years (2006-2018) and controlled by the province and the type of university, show in major choice of volunteers, no attention is paid to the unemployment rate of that field. The non-significance of the unemployment rate coefficient in the above model confirms the hypothesis that the unemployment rate of the field (main independent variable) does not explain the registration rate in that field (dependent variable), Therefore, the unemployment rate of the field in any of the six fields, in any type of universities and in any of the provinces, has no significant effect on the rate of major choice. According to the theoretical and experimental background of research in many other countries, there is a problem and weakness and they have followed solutions for it.