Sharif Digital Repository

In the present study, the effects of increasing the value of shale gas production, either due to increased production or price increases, have been studied on economic variables such as employment, wage, property value and the number of births. In this regard, the data for each of these variables was used at the county level in the United States of America between 2000 and 2011. In order to estimate the desired effects, counties are divided into two types of boom and non-boom counties. The findings indicate that increasing natural gas production will lead to more employment and wage growth in boom counties than non-boom counties. Also, during the period of increasing production, the value of... 

Co-movement between inflation and nominal interest in response to an interest rate shock, dubbed neo-fisherianism, has been the subject of contentious debate since the advent of non-inflationary ZLB environment. We design an economic model rich with banking features to understand the economic responses to permanent and long-term interest rate shocks. We find that responses to a permanent positive interest rate shock depend on the monetary authorities’ speculation of the new long-term inflation rate, with the most probable outcome being a permanent increase in inflation. Responses to a long-term positive interest rate shock depict an increase and then decrease in inflation. We also discover... 

The low female labor force participation rate in the Iranian labor market relative to the global average and even to countries that do not differ significantly from the socio-economic characteristics of our country is one of the important questions of the Iranian labor market. In this study, we seek to answer the question of whether the economic participation rate of married women will increase if the gender gaps in wages, job findings and job losses among women and men are eliminated in the Iranian labor market. To answer this question using household expenditure and income data and labor force data, we show that between the two categories of occupations, in terms of the share of women's... 

Daily price limits are boundaries that regulators impose to control daily volatility in stock market. This paper studies the impact of an imposing price limit in Tehran Stock Exchange. To this end we use all the data about companies which were accepted in stock exchange and fara-stock exchange in 1392.In this year the price limit imposed on companies in stock exchange and fara-stock exchange are 4 and 5 percent respectively. Therefore, to estimate the effect of price limit we use the propensity score matching method and inverse probability weighting.The results indicate no significant differences between returns and trade volume between 4% and 5% price limits, but a significant difference... 

The goal of this research is to obtain optimal toll for saveh-salafchegan, Tehran-pardis and Ghazvin-karaj highways. To obtain optimal toll, Small and Yan value pricing model was extended and then parametrs of the model was estimated by using daily data of Maintenance and road transport Organization, then value of time parameter was structurally estimated and optimall toll was numerically obtained for the highways. Finally sensitivity analysis was performed for all parameters. Results show that optimall toll for saveh-salafchegan highway is unique and respectively, are in interval τ≤0.03 and τ≤3.72 . Magnitude of value of time of road users and difference between value of time of users... 

Iran has one of the lowest rates of female participation in the labor market among countries. In 2015, for every 100 men over 10 years old, only 21 women’s labor force participation was confirmed. This paper attemps to determine factors which cause low participation rate of women, particularly married ones. For this purpose, using structural estimation method, a dynamic discrete choice model was built, and estimated with means of simulated method of moments (SSM). The results indicated that the most important factor for low participation rate of married woman is children cost. Elimination of this cost would increase participation rate of married women about 30 percantage points  

This study investigates the price elasticity of gasoline smuggling demand in Iran. For this purpose, a panel data of monthly gasoline consumption has been used that contains data for 160 regions of distribution for Iran's Oil Production Company between 2005 and 2014. The results of estimating the monthly elasticity of gasoline smuggling demand in each region show a significant impact of the gasoline price differential between Iran and its neighboring countries, as well as the distance of each region with the neighboring countries on the demand. The results of this study show that whenever gasoline prices increase inside the country, the inclination to smuggling has been decreased due to a... 

This research is aimed at analyzing the effects of forming relationships between oil and gas companies and drilling rigs owned by drilling companies. For this purpose, panel data on 13240 contracts signed between 2000-2010 worldwide are used through employing a model with fixed effects and an instrumental variable for day-rate. Results show that repeated interaction between oil and gas companies and drilling rigs, does on one hand increase the number of contracted projects in future contracts, and on the other hand, improves their drilling performance. Moreover, it is seen that such effects are only captured by the first few interactions, and that they subside and vanish after the firms have... 

The paper aims to investigate the importance of firms’ financial constraints for pricing equity in Iran. We study the impact of financial constraints of non-financial firms on their stock returns using a sample of 241 manufacturing firms listed in Tehran Stock Exchange (TSE) for the period of 2007 to 2014. We use a similar index as in Kaplan and Zingales (1997), KZ, to measure financial constraint. We examine whether financial constraint influences stock returns and can improve the explanatory power of the Fama and French three-factor asset pricing model. Our findings indicate that financial constraints can be considered as an important factor affecting asset returns. Cross-sectional... 

The case for boosting the share of children benefiting from early childhood development (ECD) programs is strong, but expenditure has to be well-aimed. Not every program adopted under the name of ECD will provide the positive impacts that currently anchor ECD discussions among policy makers. In this report, we present results from an experimental evaluation of Cash Grant for Child Care program implemented in Sistan & Baluchestan province of Iran as a government subsidized ECD. The program provides monthly grants to ECD centers, as well as in-kind food quota per every child attending the center. At the end of school year, we did not find any significant differences in cognitive and... 

On May 5, 2014, Iran began the Health Transformation Plan in public hospitals to promote vaginal delivery by increasing physician fees and by freeing payment of natural labor. About five month later part of the plan extended to non-public hospitals, and the fee of vaginal delivery increased there as well. These consequent exogenous policies provide an ideal environment to examine how Ob/Gyn physicians and pregnant mothers respond to financial incentives using difference-in-difference identification. We find that after the first reform caesarean rates declined by 4.92 percent in public hospitals without any health deterioration, a significant but modest drop. Our results suggest that in the... 

Gasoline consumption resulting from vehicular traffic is one of the most significant factors influencing the emission levels of pollutants. Since the sold gasoline at fuel stations does not necessarily translate into vehicular traffic, tracing the final consumer becomes challenging. hence, estimating the impact of gasoline consumption on air pollution is accompanied by biased results. Moreover, the COVID-19 outbreak, acting as an exogenous shock, has provided an opportunity to use data such as COVID-19 and intercity travel as instrumental variables, gasoline consumption, and emission levels, between 2018 and 2020, show unbiased estimates of the effect of gasoline consumption on air... 

Assuring households’ access to essential goods at economy’s hard times has always been of policymakers’ main concerns. Using Household’s Income and Expenditure Survey data during Iran-Iraq war during 80’s, we have calculated welfare and distribution effects of rationing by coupons of three essential goods in these years. We found that rationed quantities were inefficiently excessive and due to their significant low prices, they were overconsumed. Also, without any extra financial burden, government could have improved lowest income quantile’s aggregate utility by 5.2% or 5.6%, if cash subsidy equal to each household’s previous subsidy value or an equal per-capita subsidy were distributed... 

In this reaserch by comparing some of the recent litreture on indentification production Function,we estimate total factor productivity. We focous on parametric methods, especially Blundell and Bond (2000), Ollay and Pakes (1996), Levinsohn and Petrin (2003) and OLS.Using panel data on plant-level of 4-digits isic in Iran from 1380 to 1390. We choose Levinsohn and Petrin (2003) as the most appropriate estimator then we use that estimator for estimating productivity of plants. At the end we investigate the relation between firm size and productivity, also its ownership and productivity  

In order to estimate the inter-sectoral labor mobility costs in Iran’s economy, in this research, we design and estimate a structural model of worker’s decisions. The estimation method used in this research is Simulated Method of Moments and we have used Labor Force Survey and Household Expenditure and Income Survey in order to extract necessary moments. Our findings show that: 1) inter-sectoral labor mobility costs in Iran’s economy are large and they are between 3 to 11 times the annual income. 2) These costs are higher for female, rural, older and high-educated workers. 3) If these costs were zero, production in tradable and non-tradable sectors would have been 36 and 16 percent larger... 

According to the principle No. 44 of the Constitution of the Islamic Republic of Iran, Roads are in the public domain and are at the discretion of the Government. The result of this rule is that there is always a free route on the side of the freeway and motorists have the right to choose between a freeway and its successor road. This is a perfect laboratory condition which gives the opportunity that can be used with discrete choice models to estimate the demand of freeway versus its successor. In this paper we estimate the determinant parameters of the freeway demand versus the successor road and price elasticity of demand that can be calculated separately for each path. The results show... 

Price limits are boundaries established by market regulators to confine daily movements of security prices within a predetermined price range. In this study, we have used the data of trades of all companies listed in the Tehran Stock Exchange during the years 1385-1393 to study the characteristics of stocks that hit price limits repeatedly using a panel regression model with fixed effects and the generalized method of moments (GMM). In fact, this study aims at investigating the price limits in Tehran Stock Exchange by a novel and distinct approach. In general, risky stocks exhibit more price volatility and thus are more likely to experience price-limit hits. In summary, the results reveal... 

This paper studies the impact of the revolution on a rise in the rate of marriage and baby boom in the late 1980’s. The key factors that incentivize doing research in this area are manifold—three of which, however, are of great importance: first, the answer to this research question is still a matter of debate; Second, the number of studies in the case of Iran is insufficient; Third, the well-known theoretical models developed in non-Iranian cases are not compatible with the case of Iran. Our research hypothesis is based on the fact that during a period before and after the revolution, people were tremendously involved in the unstable political situation and, therefore no matter what... 

Presence of asymmetric information is an important source of reducing insurance companies’ efficiency and increasing damage to premium ratio. In this research, we test the conditional independence of the choice of better coverage and the occurance of an accident, where “conditional” means conditional on all variables observed by the insurer. We use two parametric methods: a pair of probits and a bivariate probit model. The data includes 178390 third party and 46633 hull policies and their damage data for individual automobiles during 2013 to 2016 which covers all observations of the insurance company. Both third party and hull insurance policies have the option of adding extra coverage, so... 

In this paper evaluate the short-term effects of air pollution on the mortality rate caused by cardiovascular problems, respiratory problems, digestive problems and tumors and cancers. This is done by using daily mortality data of Tehran, Tabriz, Mashad, Shiraz, Ahwaz and Isfahan during the years 1390 to 1394, we also use daily measurements of pollutant levels including Carbon-monooxcide, Sulfure-dioxide, Oxides of Nitrogen, Ozone and Particulate matters in the same period. The effects are estimad by looking at the relation of daily mortality in each city along with its pollution level. By controling for the weather conditions and city and month fixed effects, we find significant positive...