This study aimed to examine real effective exchange rate (REER) misalignment in Iran and its relation to the currency crisis. The behavioral equilibrium exchange rate was employed to calculate the equilibrium exchange rate (EER), and misalignment was obtained using the exchange rate deviation from the equilibrium value. Using the autoregressive distributed lag (ARDL) method and data from 1986 to 2019, the long-run relationship between macroeconomic fundamentals and REER was estimated. The results show that trade openness, rate of productivity growth in tradable good production, net foreign assets of the central bank, oil exports, and terms of trade significantly affected the EER. Estimation of misalignment and its relationship with the currency crisis show that in the years before the crisis, there was generally a significant overvaluation in several consecutive years; hence, exchange rate misalignment serves as a leading index to predict the probability of a currency crisis.

Background and purpose: Today’s dynamic environment is increasingly pressuring public organizations to be simultaneously flexible and efficient. The purpose of this study was to examine the mediating role of organizational ambidexterity in the relationship between psychological capital and the perfor-mance of public organizations that have bureaucratic limitations to their activity and are not as competitive as the private sector. Methods: A questionnaire was developed and distributed among the employees of Management and Planning Organizations in 31 provinces in Iran, and a total of 373 questionnaires were returned. The data was analysed using CFA to validate the measures, and then the mediating effects of organi-zational ambidexterity was tested. Results: The results indicated the significant relationship between psychological capital and organizational performance (B=0.55) and the positive mediation effect of organizational ambidexterity on this relationship (0.333). Conclusion: The findings can help managers of public organizations to enhance their organizational performance by strengthening psychological capital and ambidexterity.