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This study examines the social cost of banking industry in Iran (17 governmental and private banks) in an unbalanced panel data model. To conduct estimations, two different approaches were taken: 1- Welfare Triangle approach 2- Libenstein’s approach. In the former, welfare triangle is measured assuming banking industry operating in full technical efficiency however, the latter includes both the effect of welfare triangle and the cost of likely technical X-inefficiency. The result of the first method showed that the social cost of banks in Iran is little, amounting to be less than 1 percent of GDP in 2008 while within the same period, the second method resulted in 4 percent of GDP, as the social cost of banks in Iran.

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The main purpose of this paper is to examine the effect of merger, concentration and credit risk on the efficiency of Iranian Banking industry. To measure the efficiency of Iranian banking system, we have used the data of commercial & specialized bank's balance sheets during 2001-2007, and a parametric approach to estimate two empirical models. To estimate efficiency measures and determining main factors affecting the measures, we have used a Logarithmic - Linear form of a random Translog cost function. The results of the first estimated efficiency model show that the average efficiency measure of banking system in Iran is 54% and that the merger of the more inefficient banks within the efficient bank will cause the average efficiency measure rise to 70% The results of the second model - assessing the effecting factors on efficiency- show that the efficiency of banks has an inverse relationship with the concentration (competition in banking industry), and a direct relationship with the IT index (e-banking activity) and the facilities to assets and capital to assets ratios (as the indices of the credit risk).

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Macroeconomic performance has improved in many countries in the world in the last fifteen years or so. Much of the literature has concentrated on how central bank independence, inflation targeting regimes, and currency :::union:::s have contributed to improving the effectiveness of monetary policy and hence macroeconomic performance. Since the financial system is a key component of the monetary transmission mechanism, we study how a country’s financial development affects monetary policy efficiency in 28 developed and developing countries within 1995-2006. Specifically, our objective is to derive monetary policy efficiency measures (PEMs) - derivative from Krause and Rioja- for 28 Developed and developing countries and analyze the impact that the size and depth of the banking sector and the capital sector have on policy performance. In our empirical analysis we use three financial development measures: private credit, liquid liabilities, and a financial aggregate index that comprises banking and stock market measures. The Results of model estimation with generalized method of moments (GMM) technique, shows that financial development with mentioned indicators has a positive and significant effect on monetary policy efficiency. Also supervision in central bank independency and inflation targeting regimes -as control variables- has positive and significant effect on monetary policy efficiency. This result doesn’t make a difference whether the country is developed or developing and in the both of them more developed financial markets, controlling the central bank independency and applying inflation targeting regimes, significantly help to achieve a more efficient monetary policy.

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The estimation of output supply and inputs demand in farming sector with the assumption of full economic efficiency may result in false policy decisions. This article investigates the effects of irrigated wheat economic inefficiency on output supply and inputs demand in the period 2001-2009. After estimating the economic inefficiency by the use of production and cost stochastic models, the output supply and inputs demand of irrigated wheat are obtained through seemingly unrelated regression method. Results show that technical, allocative and economic inefficiency in irrigated wheat production in Iran are 21, 23 and 38 percent respectively. Moreover, the slope of output supply function is strongly affected by the related economic inefficiency in profit function and inefficiency changes input’s demand coefficients. Results also show that technical inefficiency has a greater effect on inputs demand compared to the allocative inefficiency.

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Efficiency analysis plays an important role in price regulation in the electricity distribution sector. This paper analyses efficiency and productivity of 38 electric distribution companies in Iran from year 1387 to 1389 (Iranian calendar year) by using slack based model (SBM). Super efficiency analysis is employed to rank full efficient companies. According to results, Tabriz, Ahwaz and north Khorasan companies have best performance among others. To examine importance of losses inclusion as input on super efficiency scores, statistical tests are utilized. Results indicate significant difference in super efficiency scores with and without accounting for losses. Average productivity index of total companies has declined by 4 percent under investigated period. Further, Panel data analysis applied to specify determinants of super efficiency of electricity distribution companies. According to results, Loss rate, network density and transformer load factor are the main determinants of super efficiency.

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This paper based on the new empirical industrial organization model (NEIO) examines the impact of market concentration and cost efficiency on bank's profit rate margin in Iran. The study uses the model developed by Azzam (1997) to evaluate the market power and cost efficiency for 15 active banks in the banking industry. The empirical findings indicate a decrease in the market power of banks during the period 2001-2011. It is also shown that the conjectural variations index associated with the loans is -0.96, while demand for the loans is completely inelastic where its value is near to 0.087. Additionally, The market power and cost efficiency in the banking industry have been estimated 0.37 and -0.30 respectively meaning a decrease about 0.3 percent for the bank's profit rate due to the efficiency of cost and an increase about 0.07 percent due to the concentration.

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The main objective of this study was to investigate weak efficient market hypothesis of Tehran stock exchange. For this purpose, total  price index, financial index, industry index and the index's top 50 companies data for the period 2013:7-2009:5 daily basis as well as data on prices and yields for the period 2013:2 - 2000:3 are applied on a monthly basis. In this study, the hypothesis of the poor performance of the Tehran stock exchange, using wavelets and fractional Brownian motion is investigated. The results show the aforementioned hypotheses are rejected.

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"Market efficiency" is the basic axiom of Financial Economics and fondamental base for ability of optimal allocation (of financial resources) in a capital market. Vast and extensive studies around Market efficiency in recent decades, has induced strong evolutions in economist’s perception from a Market efficiency, methods of assessing and their implications in real world. This essay attempts to procure a concise leterature review of these evolutions. Results show that applied methods in Iran are incomplete in regard with new addvancements in foreign studies. So, weak form efficiency of Tehran Stock Exchange is reevaluated using new method of H statistic of Hinich. Results of empirical study shows that weak form efficiency is rejected for all the sample as a whole. But, market efficiency would be in evolvotion in studied periods based on used H statistic in this article. Also, market efficiency experienced an stationary improvement  from 2005.