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The study of exchange market pressure and assessing the central bank’s intervention in different periods can provide valuable information on the performance of central bank and the efficiency of policies applied in exchange market. This paper aims to estimate the degree of CBI’s direct intervention from May 1993 until March 2009 by applying 3SLS method. The main finding of this research suggests that the mean of direct intervention is 0.16 in the period prior to the fixed exchange rate period and 0.33 in the period following that period, when the managed floating exchange rate system was in place. Moreover, the CBI has been frequently leaning against the wind

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This paper is aimed to design a Dynamic Stochastic General Equilibrium in an Islamic framework for Iran. For this purpose an Islamic policy instrument, i.e. The share of government participation in capital funding (MUSHARAKA) is substitute for the interest rate. Then an Islamic policy rule is substitute for Tailor rules in which MUSHARAKA rate will respond to GDP and inflation fluctuations. The results reveal that with the new policy rules, the impact of economic shocks on both GDP and inflation fluctuation will decrease. Then the optimal Islamic(MUSHARAKA) rule is derived. The coefficients of optimal policy rules indicate that monetary authority should respond equally to inflation and the GDP gaps. Therefore, we can conclude that the instrument introduced in this model is quite capable to confront economic fluctuations .So it can be used as an alternative superior instrument for implementing the stabilization policies.

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Explaining economic stylized facts with general equilibrium models requires considering some assumptions about relationships that are as realistic as possible. Assumptions about nominal rigidities such as wage and price stickiness are the main principles of general equilibrium models that should be determined based on the agent's behavior in the studied case. This paper addresses the question of whether introducing the wage stickiness into the Iranian economic model can improve the model fitting. Also this paper is aimed to find out which price and wage adjustment models are more consistent with the stylized facts of the Iranian economy. In this order, we consider three alternatives for wage stickiness (model without wage stickiness, simple wage stickiness, and wage stickiness with indexation) and three models for price stickiness (Calvo with Indexation, Information Stickiness Model and Dual Price-Information Stickiness), and design 9 DSGE models based on these alternatives. Then we evaluate and compare DSGE models with three different benchmarks (Baysian Model Comparision, Impuls Response Function Comparision, and comparing the degree of inflation persistency). The results show that introducing wage stickiness in the models make the models more consistent with the stylized facts of the Iranian economy, including the inflation stability and inflation inertia. Also, considering the wage indexation in the models improves model performance based on the inflation persistency benchmark

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This research aims to investigate technological capabilities competitiveness of Iran’s petrochemical industry products in 2016 . The main questions of the study are 1) in which petrochemical industry products does Iran enjoys a revealed comparative advantage? 2) what are the opportunities for Iran to diversify petrochemical export basket? in order to answer these questions we have used an approach called economic complexity. Based on harmonized system at the 6-digit level (HS6) in 2016, our results indicate that, Iran had revealed comparative advantage in export of 35 petrochemical industry products. In order to evaluate opportunities, the proximity border of technological capabilities was mapped using 3 criterias of distance, product complexity and opportunity gain. The results identified 44 new products. These are products that lead the country to more technological capabilities and a higher level of complexity, and at the same time they are not far from the current technological capabilities of the country. Finally, to prioritize selected products, we examined the international markets of these products according to three criterias: Number of main competitors exporting, World trade volume and Number of countries importing the product , at the end 7 products were selected as priority products.