Economic policies aimed at managing economic variables in the short and long term have always been of special importance. These policies seek to reduce economic fluctuations in the short term and increase sustainable economic growth in the long term. One of these policies is monetary policy, which is mainly carried out by central banks worldwide. This paper uses the Keynesian Dynamic Stochastic General Equilibrium (DSGE) model to examine the effects of monetary policy on the real variables of the Iranian economy through the credit channel and the balance sheet channel. The presented model analyzed information about macroeconomic variables in Iran for the period from 1990 to 2020. The obtained results show that with the implementation of restrictive monetary policy in the economy, all productive activities of enterprises decreased, and this led to a decrease in household income, which in turn reduced household savings in the form of bank deposits. Because the most important sources of financing for banks are deposits, the ability of banks to offer loans was reduced. On the other hand, a restrictive monetary shock was associated with a decline in the value of corporate securities. As a result, the amount of received loans by firms was reduced by the value of the assets. This reduced the demand of banks for bank loans, which intensified the effects of the initial shock, along with a reduction in the banks’ ability to provide lending services. Further, the results indicate the relative success of the model in simulating Iran’s macro economy.

Considering the effect of inflation on financial development and economic growth, in this paper we investigate the role of inflation in the effect of financial development on the economic growth in OPEC economies for the period of 1970 to 2015. For this purpose, we used Panel Smooth Threshold Regression (PSTR) to estimate nonlinear effects of inflation in the relation between economic growth and financial development. The results of estimation show that the thresholds of inflation rate were 20.33 and 20.36 considering the two different proxies of financial development (domestic credit provided by banking and domestic credit to private sector). The results of nonlinear estimation showed that in over-threshold inflations, the effect of financial development on the economic growth in the OPEC economies would decrease and would even become negative.

Asset-Liability Management (ALM) of banks is defined as simultaneous planning of all bank assets and liabilities under different conditions and its purpose is to maximize profits and minimize the risks in banks by optimizing the parameters in the balance sheet. Most of the studies `and proposed models in the ALM field are based on an objective function that maximizes bank profit. It is not easy to apply changes in these models in order to reach the optimal values of the parameters in the balance sheet. In this article, an attempt has been made to propose a linear model using constraints to achieve optimal values of balance sheet parameters using ALM objectives and considering balance sheet, system and regulatory constraints. It has also been tried to design the model according to the most possible mode and with the least changes and to minimize the size of the balance sheet. The analysis of the model presented in this article has been conducted using the parameters of the balance sheet and income statement of one of the famous Iranian banks. The results obtained from the proposed model show that the values of cash and receivables from banks and other credit institutions have decreased by 30% and increased by 200%, respectively, compared to the actual values of these parameters. Also, Total Income, Operating Income and Non-Operating Income have grown by 30% compared to the actual values of these parameters. Also, the values of a number of parameters are estimated to be zero after optimization. According to the results, it is obvious that the performance of bank managers, especially in the management of bank assets, is significantly different from the optimal values of the balance sheet, and the results obtained from the proposed model can help the management of banks as much as possible.

ABSTRACT. This working paper strives to measure analyze and the productivity of capital in the industrial sector in the case of the State of Sistan and Baloochestan over the period . Three production functions (Debertin, Cobb-Douglas and Transcendental logarithm (Translog)) are estimated by relevant variables such as labor, capital and GDP. Akaike, Schwarz information criteria and LR test indicate that the Cobb-Douglas model should be preferred. In order to avoid a spurious regressing Johansen test detects a cointegration. According to this detection the cointegration term (-0.46) indicates that the deviation from long-run equilibrium is rectified gradually through a series of partial short term adjustments after or so two years.The results of this function reveal that there's been a diminishing trend in productivity of capital since 1982.So it demonstrates the lack of attention to capital productivity. Thus we can conclude that Sistan suffers from the absence of comprehensive strategy and segregation between trade and production policies.

This study deals with investigation of existence of monetary policy risk channel in the economy of Iran. For the same purpose, the seasonal data of macroeconomic variables are used in such a manner that changes in interest rate as an indicator of monetary policy and bank leverage ratio as an indicator of risk are considered. Using VAR approach and Impulse response functions, the experimental test of channel of monetary policy risk in the economy of Iran was examined. The results showed that an expansionary monetary policy which occurs by decrease in interest rates causes that risk of bank system to be increased. In addition, it should be stated that inflation had positive impacts and economic growth had negative impacts on the risk of bank system.