Kazem Yavari - Academia.edu (original) (raw)

Papers by Kazem Yavari

The Economic Research, Sep 10, 2021

iranian economic review, 2013

This research, recognizing the importance of efficiency and risk as two fundamental important cat... more This research, recognizing the importance of efficiency and risk as two fundamental important categories in banking industry, seeks to review the effectiveness of two popular models: parametric (SFA) method with economic basis and nonparametric (MEA) method with mathematical optimization basis to evaluate bank efficiency and rank and select an optimal model and also to identify the impact of credit, operational, market and liquidity risks on banking system efficiency. In this regard 15 banks were selected as statistical research community over the last six years (2005-2011). Using average performance provided by the above two methods, banks were ranked with Deap and Frontier software, and then to examine the presence or absence of significant correlation between the rankings provided by these two methods, the Pearson correlation coefficient was used. The results suggest differences in the two methods with regard to performance evaluation and ranking of banks, and show a relative sup...

European Online Journal of Natural and Social Sciences, Feb 19, 2015

Oil price volatility is considered as the main source of oil revenue volatility. Since Iran's eco... more Oil price volatility is considered as the main source of oil revenue volatility. Since Iran's economy relies upon the oil revenues, stabilization and dealing with oil price volatility is necessary. Because of their efficiency and application in risk management, financial derivative tools are of interest of market players. The hedging instruments investigated in the present paper are 1-to 4month derivative contracts of NYMEX oil stock. Employing various econometric methods, the paper investigates risk hedging strategies, where to select the optimum position efficiency and utility of each position is measured. The results indicate that applying derivative contracts leads oil revenue risks to reduce at least 59% and at most 98%.

در این مقاله تلاش شده است اثر وفور منابع طبیعی (نفت و گاز) بر سرکوب مالی و رشد اقتصادی از کانال ا... more در این مقاله تلاش شده است اثر وفور منابع طبیعی (نفت و گاز) بر سرکوب مالی و رشد اقتصادی از کانال اثرگذاری بر توزیع درآمد مورد بررسی قرار گیرد. مدل سیستم معادلات همزمان که از تبیین نظری پژوهش استخراج شده است با استفاده از روش حداقل مربعات سه مرحله‌ای (3SLS) برای دوره 1389-1352 مورد ارزیابی قرار گرفت. نتایج تحقیق نشان می‌دهد که افزایش درآمدهای نفتی منجر به افزایش نابرابری شده و مطابق آنچه انتظار می‌رفت، افزایش نابرابری نیز به افزایش سرکوب مالی در اقتصاد دامن می‌زند. همچنین سرکوب مالی منجر به کاهش رشد اقتصادی شده است. بنابراین فرضیه اصلی تحقیق مبنی بر اثر درآمدهای نفتی بر سرکوب مالی و رشد اقتصادی از کانال توزیع درآمد مورد تایید قرار گرفت. از دیگر نتایج این پژوهش می‌توان به اثر منفی وفور درآمدهای نفتی (اثر مستقیم) بر رشد اقتصادی و اثر مثبت آن بر نابرابری نام برد. این مقاله مستخرج از رساله دکتری با عنوان « نقش وابستگی نفت در عدم تعادل های اقتصادی (مطالعه موردی: ایران)» می‌باشد.

Biquarterly Journal of Economic Research, 2017

This paper examines the effect of oil resource abundance on economic growth through the budget an... more This paper examines the effect of oil resource abundance on economic growth through the budget and external sector imbalances. The three equations -that have been extracted from theoretical explanation-estimated simultaneously, using 3SLS for the period 1973-2012. We find negative effects of non-oil budget deficit and non-oil trade deficit on economic growth. According to the estimations, budget deficit has caused the trade deficit, but the reverse is not true. So, it can be said twin deficit hypothesis is not confirmed. The effect of oil revenues and real exchange rate on non-oil trade deficit is negative and significant. Government spending has a positive effect on the budget deficit that is consistent with theoretical expectations. The impact of oil revenues on the non-oil trade deficit is positive and significant. In general, it can be said that although the impact of oil revenues on economic growth is positive, these incomes decrease economic growth through the exacerbate imbal...

iranian economic review, 2020

The Tehran stock market has played an important role in Iran’s economic growth. This paper examin... more The Tehran stock market has played an important role in Iran’s economic growth. This paper examines the factors that affect stock returns in the Tehran Stock Exchange. In particular, we analyze the conditional relationship between risk and return in Iran by estimating the relationship between various sources of risk -market risk, oil price risk, exchange rate risk, gold price risk, inflation risk, skewness, and kurtosis - and the stock return in the Tehran Stock Exchange over the period March 2005 to March 2019. The methodology used in this paper is a multi-factor model which allows the impact of the risk factors to have asymmetric effects depending on whether returns for the respective risk factor are increasing or decreasing. We analyze the risk-return relationship for four groups of industries: the top ten industries by market cap, the five largest energy-consuming industries, the four major export industries, and the four major import industries. We find significant conditional...

Quarterly Journal of Applied Theories of Economics, 2017

Theoretically speaking, monetary policy transparency refers to the informational symmetry between... more Theoretically speaking, monetary policy transparency refers to the informational symmetry between the central bank and the private sector. High degree of transparency reduces uncertainty, improves the private-sector inference about central bank goals, and increases the effectiveness of monetary policy. This study analyzes the impact of financial and monetary freedom on monetary policy transparency. A set of 102 countries -categorized in low, middle and high income groups have been investigated for the period 1998-2010, since the monetary policy transparency data are not available from 2010 onwards. The panel cointegation test suggests that the long run relationship between variables exists. The empirical findings suggest that while GDP per capita and trade freedom have a positive effect on transparency, the impact of financial freedom on transparency varieties in different income groups. Furthermore the monetary freedom exerts significant positive effect merely on middle income coun...

Journal of research in health sciences, 2014

BACKGROUND Because of the rapid aging rate, the share of health expenditure in gross domestic pro... more BACKGROUND Because of the rapid aging rate, the share of health expenditure in gross domestic product rises irreversibly and increases concern among politicians and the general public. The aim of this study was to examine the accuracy of the Baumol's model of unbalanced growth in Iran over the period 1981-2010. METHODS This theoretical-analytical study was conducted in 2012 to investigate the various determinants of ongoing rise in the health expenditures. To this end, an Error Correction Model was derived from the long run cointegrating equation to inquire the veracity of Baumol's theory. RESULTS Estimating the short run and long run equations by using time series data shows that the rate of increase in health expenditure is aligned with the difference between wage increases in and growth of productivity in the health sector. Besides, results show that both the per capita income and the inflation rate of health care had significant effects on raising the share of health sec...

Quarterly Journal of Applied Theories of Economics, 2019

The main objective of this study is to examine the effect of housing market on real sector of eco... more The main objective of this study is to examine the effect of housing market on real sector of economy and to identify its role in business cycle process. To this end, the paper has used a Dynamic Stochastic General Equilibrium Model. The specific feature of this models is that it has containes two types of households: Patient and Impatient. Patient households had greater discount factor. They save and accumulate capital and they produce goods and services. Patient households also supply funds to impatient households who have smaller discount factor. The maximum amount which impatient households can borrow depends on the value of house owned by them. In fact, this assumption tries to impose the collateral constraint which emphasized by Bernanke (1995) in the model. This channel has a crucial role in transmitting the housing market shocks to real sector. To estimate the model, we used both Calibration and Bayesian approaches. We estimated the model using quarterly data over the period...

Journal of Money and Economy, 2016

Volatility of exchange rate while changes from time to time, is expected to affect firm level ope... more Volatility of exchange rate while changes from time to time, is expected to affect firm level operations as well as aggregate level outcomes i.e. macroeconomic performance. This paper, investigates the effects of exchange rate volatility on aggregate production in Iran using a Structural Vector Auto Regressive model with Exogenous Variables (SVARX). The model is estimated based on macroeconomic data during 1990q2-2015q1. Impulse response functions show that realization of a positive shock to the exchange rate volatility-measured by quarterly coefficient of variation derived from daily exchange rate data set rather than common GARCH-based measures- is associated with a significant production drop. These results are robust in reference to changing output measures. We also provide some necessary sensitivity analysis to check robustness of the results with respect to recursive restrictions which are imposed to identify the structural model. After all this robustness checks the model con...

iranian economic review, 2006

This paper analyzes the effects of socio-economic factors on life expectancy. Using multiple regr... more This paper analyzes the effects of socio-economic factors on life expectancy. Using multiple regression analysis, the paper shows that there is a positive strong correlation between life expectancy as an independent variable and per capita income, health expenditures, literacy rate and daily calorie intake. Also, it shows that there is a negative strong correlation between life expectancy and number of people per doctor. Using dummy variables, the paper shows that there exist some unrecognized or recognized but not quantifiable factors which affect life expectancy in African countries. Finally the paper concludes that human development requires an increasing investment in the socio-economic sectors.

A mixture of political and economic reasons in support of what eventually came to be known as Eur... more A mixture of political and economic reasons in support of what eventually came to be known as European Union (EU) were also evident in its recent expansion. Under the politico-military umbrella of NATO , the principles of capitalism were strengthened in Europe, and by extension the interests of the U.S. were promoted. The future economic benefits of new EU members are hypothesized to be determined by their structural preparedness to boost their investment and stimulate their export orientation. Causality tests produced mixed results, with some countries exhibiting signs of readiness to take advantage of the new conditions, as others were found in need of time and generous assistance before they modernize their economies.

Trade in services has been growing in recent decades especially among developing countries. Servi... more Trade in services has been growing in recent decades especially among developing countries. Services export can improve the trade balance, expand employment, boost economic growth and also support the development of the merchandise sector. The main object of this paper is to study the competitiveness by Revealed Comparative Advantage (RCA) index and to evaluate the main factors affecting the export of services among OIC member countries by panel data method. Findings of RCA index show that the comparative advantage of travel and transportation services export among these countries has increased and percentage of countries which have RCA less than unit has increased. The factors such as GDP per capita, real effective exchange rates, foreign investment inflow, and communication infrastructure have significant and positive effects on export services. The variables such as inflation and institutional index reduce the services export. Furthermore, the membership of these countries in reg...

Experimental studies in agriculture sector for deriving input supply and output demand is usually... more Experimental studies in agriculture sector for deriving input supply and output demand is usually obtained by producers' complete efficiency default in goods production. Deriving the mentioned functions could lead to illusory results without considering inefficiency. This article has investigated the effect of economic inefficiency on output supply and dryland wheat input demand. Therefore, different inefficiencies were estimated using Dual Frontier method and provincial data in 2001-2010 period. In the next step, effective factors on economic inefficiency were investigated. Finally, irrigated wheat input supply and demand have been achieved in two scenarios (the first scenario without considering inefficiency and the second scenario with considering inefficiency).

Nowadays, banks are considered as one of the major components of the financial system of a countr... more Nowadays, banks are considered as one of the major components of the financial system of a country and any deficits and malfunction in the banking system will negatively affect the performance of the real sector. Therefore, there is a need for more investigation on the behavior of banks and factors affecting those behaviors in a country. One of the issues that affect the behavior of banks is symmetric information. Thus, the main aim of the present study was to investigate the impact of asymmetric information in the money markets on investment, production, and employment. Hence, based on the New-Keynesian framework, a Dynamic Stochastic General Equilibrium (DSGE) model was adopted in accordance with the structure of the economy of Iran. The designed model entailed nine sectors including households, firms, banks, the Central Bank, oil, the government, exports, imports, and other countries of the world. Moreover, the rigidities of the prices and wages, and the rigidities of the importe...

Hakim Research Journal, 2010

Introduction: Market failure in providing individual and social stock of health, or capital, caus... more Introduction: Market failure in providing individual and social stock of health, or capital, cause exigency of government interference in these sector s. Therefore, providing a part of society’s needs i n the field of health is one of the basic acts of governm e t. It has been further argued that unless governm nt intervenes, the provision of equity cannot be achie ved. Methods: The main purpose of the present study is to conduct a survey on effectiveness of governmental financial support of health sector in some Islamic Organization Countries (OIC). Thus, we applied clas sical econometrics methods (including cross section and p el data) using data period of 1991-2005. Results: Results show that government health expenditure ha s a positive and significant effect on various social indicators. In addition, it was shown that p er capita income is one of the important determinan ts of health indicators (such as infant mortality and und er-five mortality rate). Adult’s literacy rate is ...