<?xml version="1.0" encoding="utf-8"?>
<ags:resources xmlns:ags="http://purl.org/agmes/1.1/" xmlns:dc="http://purl.org/dc/elements/1.1/" xmlns:agls="http://www.naa.gov.au/recordkeeping/gov_online/agls/1.2" xmlns:dcterms="http://purl.org/dc/terms/">
<ags:resource>
					<dc:title><![CDATA["Measuring   social  welfare  resulting  of  Iran, s suger  imported  tariffs  comported  to  an  export  tax  policy
  in brazil using  a  game  theory  approach "]]></dc:title>
					<dc:creator>
					<ags:creatorPersonal><![CDATA[ahmadi, sodabeh]]></ags:creatorPersonal>
<ags:creatorPersonal><![CDATA[Basirat, Mehdi]]></ags:creatorPersonal>
<ags:creatorPersonal><![CDATA[Gorgorzadeh, Alireza]]></ags:creatorPersonal>

			</dc:creator>
			<dc:publisher>
				<ags:publisherName><![CDATA[University of Tehran]]></ags:publisherName>
			</dc:publisher>
			<dc:date><dcterms:dateIssued><![CDATA[2016]]></dcterms:dateIssued></dc:date>
				<dc:subject><![CDATA[Nash equilibrium]]></dc:subject>
				<dc:subject><![CDATA[Simultaneous Equation]]></dc:subject>
				<dc:subject><![CDATA[Strategy]]></dc:subject>
				<dc:subject><![CDATA[World prices]]></dc:subject>
			<dc:description>
				<ags:descriptionNotes><![CDATA[Includes references]]></ags:descriptionNotes>
				<dcterms:abstract><![CDATA[Sugar, including processed goods in the world in the raw material for the production of agriculture and it is a strategic commodity. The intent of this research is to approach the game theory to analyze the relationship between import and export of sugar, Iranian and Brazil. The impact of changes in world prices and import tariffs, the welfare of the Brazilian study. The data used in this study during the period 1981-2012. After peforming the required test, the desired function through a system of simultaneous equation(3SLS) were estimated. The result of calculating welfare in the context of game theory suggest, 22 percent increasein in world prices and reduction tariff rote of 10 percent, resepectively, Brazil and Iran to the welfare surplus equal to 795/4 of dollar to Brazil and -194 $ for Iran will follow.]]></dcterms:abstract>
			</dc:description>
            <dc:identifier scheme="dcterms:URI"><![CDATA[https://jte.ut.ac.ir/article_58445_ca8ace090018b15675350523076f0685.pdf]]></dc:identifier>
			<dc:identifier scheme="ags:DOI"><![CDATA[10.22059/jte.2016.58445]]></dc:identifier>
			<dc:type><![CDATA[Journal Article]]></dc:type>
			<dc:format><dcterms:medium><![CDATA[text]]></dcterms:medium></dc:format>
			<dc:language><![CDATA[فارسی]]></dc:language>
			<dc:source><![CDATA[https://jte.ut.ac.ir/]]></dc:source>
			<dc:source><![CDATA[Journal of Economic Research (Tahghighat- E- Eghtesadi)]]></dc:source>
		</ags:resource>
<ags:resource>
					<dc:title><![CDATA[Analysis of a planner institution to avoid time inconsistency  of civil  budgeting (Case Study: Isfahan Municipality)]]></dc:title>
					<dc:creator>
					<ags:creatorPersonal><![CDATA[Bastanifar, Iman]]></ags:creatorPersonal>

			</dc:creator>
			<dc:publisher>
				<ags:publisherName><![CDATA[University of Tehran]]></ags:publisherName>
			</dc:publisher>
			<dc:date><dcterms:dateIssued><![CDATA[2016]]></dcterms:dateIssued></dc:date>
				<dc:subject><![CDATA[Time inconsistency]]></dc:subject>
				<dc:subject><![CDATA[delegation]]></dc:subject>
				<dc:subject><![CDATA[Budget]]></dc:subject>
				<dc:subject><![CDATA[Linear programming]]></dc:subject>
				<dc:subject><![CDATA[Efficiency]]></dc:subject>
			<dc:description>
				<ags:descriptionNotes><![CDATA[Includes references]]></ags:descriptionNotes>
				<dcterms:abstract><![CDATA[From the perspective of the public budgeting sector ,time inconsistency, is testable by significant deviation of performance(Tafrigh) budget efficiency from the approved. One way to avoid the problem of time inconsistency is to follow, the delegation approach. According to this approach, for any executive monetary or fiscal decision making and planning, an independent monetary or fiscal planning institution or sector is established, a part from the executive one. Objective evidences such as these institutions in metropolitan cities of our country, are formation of the planning deputy as a new municipal organization of the metropolitan cities such as Isfahan municipality. In this survey, we first, estimate approved and performance budget efficiency of fourteen municipalities with central municipality of the aria of Isfahan metropolitan city from 2009 to 2012 by Parametric method of Timmer and WinQSB software. Two tailed T-test ,at 95% confidence interval and Pearson’s correlation coefficient are used for significant deviations of the approved budget efficiency from the performance by SPSS 18. Kolmogorov- Smirnov test is also used for data normality test. The results, indicate that, Isfahan deputy of planning was not able to avoid the phenomenon of time inconsistency during 2009 and 2010. But, after two years, during 2011 and 2012, delegation approach was able to avoid it]]></dcterms:abstract>
			</dc:description>
            <dc:identifier scheme="dcterms:URI"><![CDATA[https://jte.ut.ac.ir/article_58450_eb332ab2d4f8337de7e69cf2936e128f.pdf]]></dc:identifier>
			<dc:identifier scheme="ags:DOI"><![CDATA[10.22059/jte.2016.58450]]></dc:identifier>
			<dc:type><![CDATA[Journal Article]]></dc:type>
			<dc:format><dcterms:medium><![CDATA[text]]></dcterms:medium></dc:format>
			<dc:language><![CDATA[فارسی]]></dc:language>
			<dc:source><![CDATA[https://jte.ut.ac.ir/]]></dc:source>
			<dc:source><![CDATA[Journal of Economic Research (Tahghighat- E- Eghtesadi)]]></dc:source>
		</ags:resource>
<ags:resource>
					<dc:title><![CDATA[Economic analysis of  solar energy system for southern Iran’s
villages : Case Study Baghtaj Village( Dashtestan Bushehr)]]></dc:title>
					<dc:creator>
					<ags:creatorPersonal><![CDATA[Bahmani, Marzieh]]></ags:creatorPersonal>
<ags:creatorPersonal><![CDATA[Behradmehr, Nafiseh]]></ags:creatorPersonal>

			</dc:creator>
			<dc:publisher>
				<ags:publisherName><![CDATA[University of Tehran]]></ags:publisherName>
			</dc:publisher>
			<dc:date><dcterms:dateIssued><![CDATA[2016]]></dcterms:dateIssued></dc:date>
				<dc:subject><![CDATA[New Energy]]></dc:subject>
				<dc:subject><![CDATA[Solar Energy]]></dc:subject>
				<dc:subject><![CDATA[Solar photovoltaic system]]></dc:subject>
				<dc:subject><![CDATA[electricity Grid]]></dc:subject>
				<dc:subject><![CDATA[Economic Analysis]]></dc:subject>
			<dc:description>
				<ags:descriptionNotes><![CDATA[Includes references]]></ags:descriptionNotes>
				<dcterms:abstract><![CDATA[Developing electrical Energy is one of the basic needs for development, so equipping the rural regions and villiages is one of the main responisiblities of thirdworld countries. in this study, we used economic evaluation indexes to compare electrification to Baghtaj village by power grid expansion and application of solar photovoltaic systems. Economic evaluation indexes suggests that in the absence of government subsidies for these two methods, none of these ways are economical and they have negative net present value. governments in order to achieve the goals of social justice must implement such projects with negative net present value. in such circumstances, government subsidies for the difference between the desired values of a unit of electricity from power plant to achieve a positive net present value. We assume this precondition to electrification, using a solar photovoltaic system, because it has less negative net present value.]]></dcterms:abstract>
			</dc:description>
            <dc:identifier scheme="dcterms:URI"><![CDATA[https://jte.ut.ac.ir/article_58452_7fbc96a0a735817eed2a6f214afb01d6.pdf]]></dc:identifier>
			<dc:identifier scheme="ags:DOI"><![CDATA[10.22059/jte.2016.58452]]></dc:identifier>
			<dc:type><![CDATA[Journal Article]]></dc:type>
			<dc:format><dcterms:medium><![CDATA[text]]></dcterms:medium></dc:format>
			<dc:language><![CDATA[فارسی]]></dc:language>
			<dc:source><![CDATA[https://jte.ut.ac.ir/]]></dc:source>
			<dc:source><![CDATA[Journal of Economic Research (Tahghighat- E- Eghtesadi)]]></dc:source>
		</ags:resource>
<ags:resource>
					<dc:title><![CDATA[An inquiry into the impact of current and capital government expenditure on the GDP in the short-run and long-run in the Iranian Economy: an application of The Bounds Testing Approach]]></dc:title>
					<dc:creator>
					<ags:creatorPersonal><![CDATA[KHODAVAISI, HASSAN]]></ags:creatorPersonal>
<ags:creatorPersonal><![CDATA[Azzati Shourgoli, Ahmad]]></ags:creatorPersonal>

			</dc:creator>
			<dc:publisher>
				<ags:publisherName><![CDATA[University of Tehran]]></ags:publisherName>
			</dc:publisher>
			<dc:date><dcterms:dateIssued><![CDATA[2016]]></dcterms:dateIssued></dc:date>
				<dc:subject><![CDATA[Keywords: current spending]]></dc:subject>
				<dc:subject><![CDATA[Capital spending]]></dc:subject>
				<dc:subject><![CDATA[ARDL model]]></dc:subject>
				<dc:subject><![CDATA[Barro growth model]]></dc:subject>
			<dc:description>
				<ags:descriptionNotes><![CDATA[Includes references]]></ags:descriptionNotes>
				<dcterms:abstract><![CDATA[AbstractA number of economists argue that the capital expenditure has a positive impact and the current expenditure has negative impact on output while others believe that the government expenditure, regardless of being current or capital spending, has a negative impact on the economy. In this direction, this paper tries to investigate the impact of current and capital government expenditure on output using ARDL approach with annual data for the Iranian economy during 1346-1393. The results indicate that in the short-run both current and capital expenditure, with one delay, have a significant negative impact on GDP while in the long-run both current and capital government have a significant positive impact on GDP. We also show that the size of the estimated parameter of the capital expenditure is twice larger than the size of the estimated parameter of the current expenditure. Using Lumsdaine-Papell test, we show that there is a structural break in the Iranian economy in 1352 (at that time the first oil-shock happened and the oil revenue increased and as a result both government expenditure and inflation increased). In order to accommodate this break we add a dummy variable to the model and we also show that when both current and capital spendings are accompanied by inflation will have a negative impact on output.]]></dcterms:abstract>
			</dc:description>
            <dc:identifier scheme="dcterms:URI"><![CDATA[https://jte.ut.ac.ir/article_58453_ea141d91910e83b1dd2fb73c465778a8.pdf]]></dc:identifier>
			<dc:identifier scheme="ags:DOI"><![CDATA[10.22059/jte.2016.58453]]></dc:identifier>
			<dc:type><![CDATA[Journal Article]]></dc:type>
			<dc:format><dcterms:medium><![CDATA[text]]></dcterms:medium></dc:format>
			<dc:language><![CDATA[فارسی]]></dc:language>
			<dc:source><![CDATA[https://jte.ut.ac.ir/]]></dc:source>
			<dc:source><![CDATA[Journal of Economic Research (Tahghighat- E- Eghtesadi)]]></dc:source>
		</ags:resource>
<ags:resource>
					<dc:title><![CDATA[The Role of the Price, Income and Efficiency Factors in Iran’s Energy Intensity]]></dc:title>
					<dc:creator>
					<ags:creatorPersonal><![CDATA[dargahi, Hassan]]></ags:creatorPersonal>
<ags:creatorPersonal><![CDATA[Biabani Khameneh, Kazem]]></ags:creatorPersonal>

			</dc:creator>
			<dc:publisher>
				<ags:publisherName><![CDATA[University of Tehran]]></ags:publisherName>
			</dc:publisher>
			<dc:date><dcterms:dateIssued><![CDATA[2016]]></dcterms:dateIssued></dc:date>
				<dc:subject><![CDATA[Energy Intensity]]></dc:subject>
				<dc:subject><![CDATA[Energy Efficiency]]></dc:subject>
				<dc:subject><![CDATA[Energy Quality]]></dc:subject>
				<dc:subject><![CDATA[total factor productivity]]></dc:subject>
				<dc:subject><![CDATA[Economy of Iran]]></dc:subject>
			<dc:description>
				<ags:descriptionNotes><![CDATA[Includes references]]></ags:descriptionNotes>
				<dcterms:abstract><![CDATA[The main goal of this study is to identify the determinants of the energy intensity in the Iranian economy using annual data for the period 1974-2012. Changes in energy intensity can be seen as related to three factors including price, income, and autonomous energy efficiency improvements (based on technical progress). Moreover the role of energy quality in enhancement of total factor productivity and the reduction of energy intensity are also investigated. Hence, methods such as index decomposition technique, ARDL, 3SLS, and SVAR (Blanchard-Quah approach) models are used for these purposes. Energy intensity decomposition results show that energy consumption inefficiency is the most essential factor that forcing the energy intensity. Estimated results show that there is a linear positive relationship between energy intensity and real income per capita, and the income elasticity of energy demand is larger than unit. Growth in the industry share of production, increase in total factor productivity, and growth of the relative price of energy in long or short term reduce energy intensity. Considering the level of importance, factors related to the TFP, relative price of energy, structure of production, and income will have more impact on the energy intensity, respectively. The policy implication of this research is the energy relative prices reform is just necessary and not sufficient condition for the energy intensity reduction and this policy should be considered with other complementary factors aimed to the technical progress and the TFP improvement.]]></dcterms:abstract>
			</dc:description>
            <dc:identifier scheme="dcterms:URI"><![CDATA[https://jte.ut.ac.ir/article_58457_352c478a7ced4fb053478f4a649a40d3.pdf]]></dc:identifier>
			<dc:identifier scheme="ags:DOI"><![CDATA[10.22059/jte.2016.58457]]></dc:identifier>
			<dc:type><![CDATA[Journal Article]]></dc:type>
			<dc:format><dcterms:medium><![CDATA[text]]></dcterms:medium></dc:format>
			<dc:language><![CDATA[فارسی]]></dc:language>
			<dc:source><![CDATA[https://jte.ut.ac.ir/]]></dc:source>
			<dc:source><![CDATA[Journal of Economic Research (Tahghighat- E- Eghtesadi)]]></dc:source>
		</ags:resource>
<ags:resource>
					<dc:title><![CDATA[The Short and Long Run Causality between Financial Development ‎and Economic Growth in Iranian Provinces]]></dc:title>
					<dc:creator>
					<ags:creatorPersonal><![CDATA[Dehghan Shabani, Zahra]]></ags:creatorPersonal>
<ags:creatorPersonal><![CDATA[Shahnazi, Rouhollah]]></ags:creatorPersonal>

			</dc:creator>
			<dc:publisher>
				<ags:publisherName><![CDATA[University of Tehran]]></ags:publisherName>
			</dc:publisher>
			<dc:date><dcterms:dateIssued><![CDATA[2016]]></dcterms:dateIssued></dc:date>
				<dc:subject><![CDATA[Financial Development]]></dc:subject>
				<dc:subject><![CDATA[economic growth]]></dc:subject>
				<dc:subject><![CDATA[Granger Causality in Panel ‎Data]]></dc:subject>
				<dc:subject><![CDATA[Fully Modified OLS]]></dc:subject>
				<dc:subject><![CDATA[Generalized Method of Moments. ‎]]></dc:subject>
			<dc:description>
				<ags:descriptionNotes><![CDATA[Includes references]]></ags:descriptionNotes>
				<dcterms:abstract><![CDATA[The relationship between economic growth and developments in the ‎financial sector has been one of the most discussed areas in economics ‎for a long time; and the direction of causality – whether financial ‎development causes economic growth or vice versa – is by no means a ‎settled issue.‎This paper investigates the short- run and long-run Granger causality ‎between financial development and economic growth in Iranian ‎Provinces during the period 1991–2011. ‎More specifically, in the first stage, we use a Fully Modified Ordinary ‎Least Squares (FMOLS) method to estimate our long-run panel data ‎model. In the next stage, Generalized Method of Moments (GMM) is ‎used to examine Granger Causal relationship between each pair of ‎variables. The results suggest the existence of bidirectional short-run ‎and long-run Granger causality between financial development and ‎economic growth]]></dcterms:abstract>
			</dc:description>
            <dc:identifier scheme="dcterms:URI"><![CDATA[https://jte.ut.ac.ir/article_58454_d101cd0d5bfd3d45c16c39769e353052.pdf]]></dc:identifier>
			<dc:identifier scheme="ags:DOI"><![CDATA[10.22059/jte.2016.58454]]></dc:identifier>
			<dc:type><![CDATA[Journal Article]]></dc:type>
			<dc:format><dcterms:medium><![CDATA[text]]></dcterms:medium></dc:format>
			<dc:language><![CDATA[فارسی]]></dc:language>
			<dc:source><![CDATA[https://jte.ut.ac.ir/]]></dc:source>
			<dc:source><![CDATA[Journal of Economic Research (Tahghighat- E- Eghtesadi)]]></dc:source>
		</ags:resource>
<ags:resource>
					<dc:title><![CDATA[Sustainable Urban energy optimal supply planning using goal programming model : case study Isfahan]]></dc:title>
					<dc:creator>
					<ags:creatorPersonal><![CDATA[Safari, Babak]]></ags:creatorPersonal>
<ags:creatorPersonal><![CDATA[Nasr Esfahani, Reza]]></ags:creatorPersonal>
<ags:creatorPersonal><![CDATA[Mansouri, Nasim]]></ags:creatorPersonal>

			</dc:creator>
			<dc:publisher>
				<ags:publisherName><![CDATA[University of Tehran]]></ags:publisherName>
			</dc:publisher>
			<dc:date><dcterms:dateIssued><![CDATA[2016]]></dcterms:dateIssued></dc:date>
				<dc:subject><![CDATA[goal programming mode]]></dc:subject>
				<dc:subject><![CDATA[local energy planning]]></dc:subject>
				<dc:subject><![CDATA[Urban economic]]></dc:subject>
			<dc:description>
				<ags:descriptionNotes><![CDATA[Includes references]]></ags:descriptionNotes>
				<dcterms:abstract><![CDATA[Open local energy requirements, the need for regional energy planning in the process of macro-planning can make significant energy. In this respect, the outer part of the direct effects of energy production and consumption locally effective, less energy planning processes will be huge. In this paper, the issue of continuity of energy supply, long-term access to resources and lower emissions from local after review. Case study to study the optimal combination of city and electric energy supply from alternative energy such as solar, wind and gas for the period of 10 years was evaluated based on gold objectives.Goal programming model is proposed, based on anticipated consumer demand, the replacement of renewable energy, capital costs and minimize pollutant emissions caused by the production, optimal portfolio for the production of electrical energy suggests.The results show that the share of solar energy and wind over the next 10 years to reach seven per cent of the total consumption and to compensate for a shortage of supply of electrical energy from the power grid around the (non-local production) is used, in these circumstances with cost same capital ratio present trends continue, emissions would be reduced for regional control.]]></dcterms:abstract>
			</dc:description>
            <dc:identifier scheme="dcterms:URI"><![CDATA[https://jte.ut.ac.ir/article_58459_e85b5eaaa28b92c874cfa859d4ccab20.pdf]]></dc:identifier>
			<dc:identifier scheme="ags:DOI"><![CDATA[10.22059/jte.2016.58459]]></dc:identifier>
			<dc:type><![CDATA[Journal Article]]></dc:type>
			<dc:format><dcterms:medium><![CDATA[text]]></dcterms:medium></dc:format>
			<dc:language><![CDATA[فارسی]]></dc:language>
			<dc:source><![CDATA[https://jte.ut.ac.ir/]]></dc:source>
			<dc:source><![CDATA[Journal of Economic Research (Tahghighat- E- Eghtesadi)]]></dc:source>
		</ags:resource>
<ags:resource>
					<dc:title><![CDATA[Spatial analysis of food inflation in Iran]]></dc:title>
					<dc:creator>
					<ags:creatorPersonal><![CDATA[Samadi, Saeed]]></ags:creatorPersonal>
<ags:creatorPersonal><![CDATA[Soleimani, Mozhgan]]></ags:creatorPersonal>
<ags:creatorPersonal><![CDATA[Keyfarokhi, Iman]]></ags:creatorPersonal>

			</dc:creator>
			<dc:publisher>
				<ags:publisherName><![CDATA[University of Tehran]]></ags:publisherName>
			</dc:publisher>
			<dc:date><dcterms:dateIssued><![CDATA[2016]]></dcterms:dateIssued></dc:date>
				<dc:subject><![CDATA[inflation rate convergence]]></dc:subject>
				<dc:subject><![CDATA[Distribution Dynamics]]></dc:subject>
				<dc:subject><![CDATA[kernel density function]]></dc:subject>
				<dc:subject><![CDATA[spatial Autocorrelation]]></dc:subject>
			<dc:description>
				<ags:descriptionNotes><![CDATA[Includes references]]></ags:descriptionNotes>
				<dcterms:abstract><![CDATA[It is expected that inflation in a country with one currency is convergent in all regions. This has been associated with “convergence” directly. In policymakers’ viewpoint, convergence is a serious topic. Although the topic of inflation is investigated in macroeconomics, some inflation indexes, for instance inflation of food prices has attracted special attention. Generally, the issue of food inflation convergence has been less considered. The present study seeks to present an analysis of inflation distribution dynamisms in the provinces in Iran using the data on price indexes of consumer products and services during the time period April 2007-March 2013. In this study, each province is considered independently. Therefore, unique information is obtained which is applied in estimation and explanation of dynamisms of inflation changes. “Kernel conditional density” estimator was employed to analyze distribution dynamisms and two graphic methods were used to visualize “conditional density estimators”. It was shown in the study that there is no “spatial dependence” among the provinces and the hypothesis regarding the existence of independence of provinces is not rejected but there are convergent trends among the provinces.]]></dcterms:abstract>
			</dc:description>
            <dc:identifier scheme="dcterms:URI"><![CDATA[https://jte.ut.ac.ir/article_58455_5b990de3e67b9da0fc8523690a66a3ea.pdf]]></dc:identifier>
			<dc:identifier scheme="ags:DOI"><![CDATA[10.22059/jte.2016.58455]]></dc:identifier>
			<dc:type><![CDATA[Journal Article]]></dc:type>
			<dc:format><dcterms:medium><![CDATA[text]]></dcterms:medium></dc:format>
			<dc:language><![CDATA[فارسی]]></dc:language>
			<dc:source><![CDATA[https://jte.ut.ac.ir/]]></dc:source>
			<dc:source><![CDATA[Journal of Economic Research (Tahghighat- E- Eghtesadi)]]></dc:source>
		</ags:resource>
<ags:resource>
					<dc:title><![CDATA[Comparing Effectiveness of Liquidity Growth on GDP, Private Investment and Employment with Assets Market Bubble]]></dc:title>
					<dc:creator>
					<ags:creatorPersonal><![CDATA[Samsami, Hossein]]></ags:creatorPersonal>
<ags:creatorPersonal><![CDATA[Davoodi, Parviz]]></ags:creatorPersonal>
<ags:creatorPersonal><![CDATA[Amiri Javid, Hadi]]></ags:creatorPersonal>

			</dc:creator>
			<dc:publisher>
				<ags:publisherName><![CDATA[University of Tehran]]></ags:publisherName>
			</dc:publisher>
			<dc:date><dcterms:dateIssued><![CDATA[2016]]></dcterms:dateIssued></dc:date>
				<dc:subject><![CDATA[liquidity]]></dc:subject>
				<dc:subject><![CDATA[Real Sector]]></dc:subject>
				<dc:subject><![CDATA[Agiotage Activities]]></dc:subject>
				<dc:subject><![CDATA[Assets Market Bubble3]]></dc:subject>
				<dc:subject><![CDATA[SLS]]></dc:subject>
				<dc:subject><![CDATA[Simultaneous Equations system]]></dc:subject>
			<dc:description>
				<ags:descriptionNotes><![CDATA[Includes references]]></ags:descriptionNotes>
				<dcterms:abstract><![CDATA[Today one of the major questions in the Iranian economy is that do liquidity injected into the economy more effected productive activities or speculative activities .This study was conducted to compare the effects of liquidity growth on real sector and assets market bubbles in Iranian economy during the period 1994(2)-2012(1). For this purpose, price index of four major assets in Iranian economy (currency, housing, stocks and gold coin) were firstly combined through principal component analysis and one composite index called assets price index was provided. At the second stage, assets price index is estimated by ARDL method and residual change of the calculated equation is considered as bubble component of the assets market (agiotage activities index). At the final stage of the study, the equation of assets market bubble component stands beside production equation, private sector investment and employment. It is estimated within the framework of simultaneous equations through 3SLS systematic method. The findings of the study indicate that the effect of increased volume of liquidity on the assets market bubble is greater than GDP and investment in private sector during the aforesaid period. Furthermore, increased liquidity has no significant effect on the employment during such a period. Considering the results of the investigation, it is suggested to direct the resources correctly toward the manufacturing sector of the country.]]></dcterms:abstract>
			</dc:description>
            <dc:identifier scheme="dcterms:URI"><![CDATA[https://jte.ut.ac.ir/article_58458_55e415cfbfb9b6d7766b9291b9ccfadb.pdf]]></dc:identifier>
			<dc:identifier scheme="ags:DOI"><![CDATA[10.22059/jte.2016.58458]]></dc:identifier>
			<dc:type><![CDATA[Journal Article]]></dc:type>
			<dc:format><dcterms:medium><![CDATA[text]]></dcterms:medium></dc:format>
			<dc:language><![CDATA[فارسی]]></dc:language>
			<dc:source><![CDATA[https://jte.ut.ac.ir/]]></dc:source>
			<dc:source><![CDATA[Journal of Economic Research (Tahghighat- E- Eghtesadi)]]></dc:source>
		</ags:resource>
<ags:resource>
					<dc:title><![CDATA[Does Diversification Reduce risk in Tehran Stock Market when it is Volatile?]]></dc:title>
					<dc:creator>
					<ags:creatorPersonal><![CDATA[K. Haddad, GholamReza]]></ags:creatorPersonal>
<ags:creatorPersonal><![CDATA[Mohammadi, Elham]]></ags:creatorPersonal>

			</dc:creator>
			<dc:publisher>
				<ags:publisherName><![CDATA[University of Tehran]]></ags:publisherName>
			</dc:publisher>
			<dc:date><dcterms:dateIssued><![CDATA[2016]]></dcterms:dateIssued></dc:date>
				<dc:subject><![CDATA[highly volatile stock market]]></dc:subject>
				<dc:subject><![CDATA[conditional correlation]]></dc:subject>
				<dc:subject><![CDATA[conditional CAPM]]></dc:subject>
				<dc:subject><![CDATA[bull and bear market]]></dc:subject>
			<dc:description>
				<ags:descriptionNotes><![CDATA[Includes references]]></ags:descriptionNotes>
				<dcterms:abstract><![CDATA[Empirical researches have shown that in highly volatile market, conditional correlation between returns is stronger, so diversification cannot reduce risk. To test this claim in Iran’s financial market, quintiles of stock return distribution have been estimated by Kernel density and GARCH models. Then, average conditional correlation, error variance and conditional CAPM has been calculated to test the reducing of Non-systematic and systematic risk. Results show that average correlation in the upper tail is not significantly different from the middle one and the average of error variances and the portfolio beta are very unstable and can be much higher in the lower tail and middle than those in the upper tail of the distribution.]]></dcterms:abstract>
			</dc:description>
            <dc:identifier scheme="dcterms:URI"><![CDATA[https://jte.ut.ac.ir/article_58456_bbb8118d3f2bd8c72c65a67e512ed4bb.pdf]]></dc:identifier>
			<dc:identifier scheme="ags:DOI"><![CDATA[10.22059/jte.2016.58456]]></dc:identifier>
			<dc:type><![CDATA[Journal Article]]></dc:type>
			<dc:format><dcterms:medium><![CDATA[text]]></dcterms:medium></dc:format>
			<dc:language><![CDATA[فارسی]]></dc:language>
			<dc:source><![CDATA[https://jte.ut.ac.ir/]]></dc:source>
			<dc:source><![CDATA[Journal of Economic Research (Tahghighat- E- Eghtesadi)]]></dc:source>
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