Sharif Digital Repository

This study seeks to identify the characteristics of pricing behavior in Iran's economy at the producer level. For the first time, this research utilizes Iranian producer price quote microdata from the industrial sector, which is used to construct the Producer Price Index (PPI). Using this new data, five facts about Iran's economy can be inferred: 1) On average, the frequency of price changes each quarter is about 52%, and the average implied duration of prices is 1.6 quarters. 2) There is no significant difference in the price stickiness between producer and consumer prices. 3) Firms' decisions to change or not change prices are more influenced by producer inflation, while their decisions on... 

The distinction between SOEs and private firms in access to loans is essential from the viewpoint of policy-making. This distinction is more crucial when we know that the difference is caused by factors other than natural market forces and has emerged merely by government ownership. In this paper, we investigate a unique intervention in privatization and identify the causal effect of government ownership on access to loans. In this respect, we study Sahamedalat in Iran by using DID approach and estimate the effect of giving up the treatment firm's cashflow right on the amount and composition of the loans. The results show the intervention significantly decreases the long-term loan of the... 

Bank loans are one of the main sources of financing for enterprises and the most important source of financing for large enterprises in Iran. Uncertainty about future conditions and asymmetric information between the bank and the firm puts the provision of loans at risk. According to the principle of proportionality of risk and return, the interest rate of bank facilities should be proportional to the risk that the bank incurs in return for granting the loan. In general, the interest rate of bank loans can be affected by three types of risks: the credit risk of the applicant firm, the risk of the lender bank and the macroeconomic environment risk. In this study, we try to estimate the... 

In much of the financial economics literature, banks are modeled as financial intermediaries that transfer household deposits to loan applicants. In these models, deposits are obtained from the accumulation of real amounts (household savings). In addition to this, another approach describes banks not as intermediaries of loanable funds, but as money-creators who do not need to accumulate deposit resources to lend. In this study, by modeling the money-creation behavior of the banking network, we try to answer the question that if the bank can create credit and purchasing power for the firm based on its future income, how will the general variables of the economy, including consumption and... 

Banks are not only money brokers but also money creators. The ability of a bank to create money is due to its unique feature in issuing debts (deposits) that are accepted as a medium of exchange by economic agents. Although this bank function has been discussed under the "liquidity transformation" heading under the micro-banking literature, it has been less discussed in macro literature. In this study, we want to examine the consequences of the bank's liquidity transformation function by developing a New-Keynesian model in which banks can finance the economy by voluntarily expanding their balance sheet. To identify the mechanisms that the money creator bank creates in the model, we have... 

Financial distress can propagate through different channels such as bank run, deposit interbank market,networks and asset prices. In this paper, with the assumption of deposit insurance, no linkages between banks, no deposit interbank market and fixed asset prices, we show that asset-side shocks might propagate through both loan interbank market and deposit market. However, when there is aggregate liquidity surplus in the banking system, loan interbank market results in the first best allocation. In contrast, aggregate liquidity shortage does not result in optimum allocation. In the presence of deposit and loan interbank market, not only shocks propagate but also they are magnified with the... 

We show evidence of a new mechanism in the lending channel via changes in the exchange rate on the loan supply. Changes in the relative risk or return of banks' balance-sheet items induced by exchange rate fluctuations can modify the level and composition of loans. Using a monthly panel of Iranian banks during 2007-2018, we find that a one percentage point increase in the exchange rate reduces loan supply by 0.05 percentage point. We consider this effect a sign of a change in the supply of loans since banks' responses to the exchange rate fluctuations differ depend on their health conditions. The impact is more remarkable for banks with higher illiquidity, non-performing loans, and foreign... 

The continous growth of wireless networks, the increasing numbers of users and devices, along with the demand for higher data rates have intensified the frequency band limitations as the communication medium. In search for more efficient methods to use this limited resource, the cognitive radio approach that allocates the local unused frequency bands to potential users has attracted considerable attension.
A fundamental and unseperable part of any cognitive radio system is its need to search, detect and understand the surrounding frequency spectrum. Although various methods have been already propose to overcome the challenges of this domain, simpler and more reliable methods are still in... 

Losses are unavoidable in any parts of power systems, from generation to receiving nodes and occur in transmission and distribution networks. However, the main loss component is produced in distribution networks. Energy losses in distribution networks are about 70% of technological transport energy losses.
Energy losses in distribution networks are an important indicator for the planning and operation of the system. A fast, reliable and accurate energy loss calculation method is required for optimal operation of the distribution networks.
Energy loss depends on network's operating conditions. Loads values and loads factors are time variables; therefore, methods based on probability... 

The per capita income and welfare levels of countries around the world vary significantly from each other. Identifying the factors that lead to differences in the per capita income of countries as well as their welfare levels is a major concern for economists. Studies conducted in this field indicate that one of the main sources of these differences is the significant disparity in the total factor productivity (TFP) across countries. Suboptimal resource allocation is one of the most influential factors affecting TFP in countries. The primary importance of investigating misallocation in the Iranian economy is that, in line with the decrease in economic growth, the growth rate of industrial... 

Privatization is one of the most important economic reform policies of the 1980s and 1990s, and it has been widely studied. Many researchers have studied the difference between public and private companies from the perspective of productivity and performance. Due to the different implementation methods of this policy, different consequences are expected. In this research, the causal effect of government ownership on the productivity of companies is investigated. In this regard, using the difference-in-difference method, we investigate the Equity Share policy and measure its effect on the level of productivity of companies and their growth. The results show that the implementation of the... 

The financial depth in Iran has decreased since 2008 and simultaneously the interbank rate has increased. In addition, researches show that the bank health has decreased over the same period. This research investigates to find evidence for the existence of the relationship between the bank health indicators and its lending power. In this regard, the balance sheet data and financial statement data of the Iranian banks during 2007 to 2014 have been investigated and the effect of the bank health indicators on their lending power studied at the normal conditions and sanction periods. In this research like Kashyap and Stein 2000, and Gambacorta and Marques2011, the bank lending channel consider... 

In the banking and macro-financial literature، banks are modeled as financial intermediaries who give loans to the borrowers from their deposits. In these models، deposits are created from the accumulation of real goods. Besides this view، which is used more in the academic environment، others who are most practical، describe banks not intermediaries، but credit creator which do not need deposits to pay loans. In this research، we use credit creation concept in a Neoclassic environment that the central bank’s monetary policy is fractional reserve to answer this question that if banks could create credit for firms based on its future income، while firms have CIA constraints، how do economic... 

Related Lending is defined as banks making loans to firms with which they have some kind of ownership association. On one hand, this practice can help diminish asymmetric information between bank and firm which results in a more efficient allocation of bank’s resources. On the other hand, it may lead to the banks’ transferring resources to their related firms inefficiently, without meticulously assessing the risks involved. This paper is focused on the effect of the relationship between bank and firm in their ownership structure, on the loan provision. I have gathered a unique dataset of private and privatized banks and also private firms active in Iran’s stock market, which covers the... 

There is a growing interest in developing high-performance sensors monitoring fungicides, due to their broadly usage and their adverse effects on humans and wildlife. In the present study, a colorimetric probe has been proposed for detection of prothioconazole based on aggregation of unmodified silver nanoparticles (AgNPs). Under optimized condition, linear relationships between the concentration of prothioconazole and the absorbance ratio of A500/A395 were found over the range of 0.01 µg. mL-1 to 0.4 µg. mL-1 with Detection limit as low as 1.7 ng. mL-1. Furthermore, AgNPs color change from yellow to pink-orange in presence of prothioconazole, indicates highly sensitive naked-eye... 

Artificial recharge is an effective method of enhancing groundwater resources. Different methods are being used for aquifer recharge, including direct surface and subsurface method, Combined and indirect methods. Among these, direct surface methods such as flood spreading and ditch and furrow techniques are most commonly used methods. They are frequently used in Iran too, but what is disregarded herein, is the application of modern methods of artificial recharge such as ASR and ASTR. ASR and ASTR are methods of artificial recharge through injection wells/borings, in order to recharge deep-seated or those aquifers which are separated by impermeable stratum from the surface. These methods,... 

This study examines the real consequences of credit market frictions in quantitative and qualitative terms in the framework of a dynamic general equilibrium model. In the form of a macrofinance model in which the asymmetric information between the bank and the firm and the weakness in the implementation of the contracts forms the relationship between the lender and the borrower, and the firm is able to strategically decide on default, we have analyzed the market equilibrium and the effect of credit market conditions on different markets. The findings of this study indicate that in such an economy, the decision of borrowers to voluntary default will reduce public welfare, cause a poor...