Many scholars have highlighted the importance of economic competitiveness for entrepreneurial activity, and hence economic growth. However, few studies quantitatively analyse the interrelationship between competitiveness and its role in increasing entrepreneurial activity at various stages of development. The aim of this study is to fill this gap in the entrepreneurship literature and to study the causal relationship between the ?pillars? of competitiveness and the different macroeconomic effects of entrepreneurship, mediated by entrepreneurial behaviour, in a panel of 81 factor-, efficiency-, and innovation-driven countries during 2012-2017. Using a MIMIC model, the results show that innovation, higher education, and technological readiness have a positive and significant impact on the level of entrepreneurial activity in the three groups of countries. In addition, development of the financial market and market size has a positive impact on entrepreneurship in factor-driven countries. Higher education and institutional strengthening have a positive and significant impact on the level of entrepreneurship in the efficiency- and innovation-driven countries, but are not significant in factor-driven countries. Moreover, the impact of infrastructure on the level of entrepreneurial activity in the factor-, efficiency-, and innovationdriven countries is positive. Good entrepreneurial behaviour generates a simultaneous and/or medium-term favourable effect on the growth of gross domestic product, exports, imports, and employment rate. Therefore, besides immediate growth, it also assures sustainable economic and social progress in the analysed countries. Our results confirm previous findings of empirical studies in the field. These findings are consistent with received economic theory on how national context affects entrepreneurial activity.

This paper following a monetary growth rate rule aims to compare the properties of different monetary policy rules in Iran. In that regards, the paper draws on the New Keynesian Dynamic Stochastic General Equilibrium (DSGE) models. Within this framework, we rank the different policy rules based on the Impulse response Functions, the volatility of key macroeconomic variables and the welfare loss function. The paper concludes that the effects of alternative monetary rules depend on what shocks affect the economy, the exchange rate regime, and the choice of inflation index. When the economy experiences productivity shocks, domestic iflation targeting is welfare-superior to other monetary rules. However, in the case of other shocks except productivity shock a managed exchange rate is the best policy rule. Finally, the results of welfare loss of alternative monetary policy rules allowed noticing the nature of the shocks affecting the economy dictate the implication and choice of the best monetary policy rule.