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The role of financial markets in macroeconomic parameters such as investment, production, private sector consumption, export, import and prices, has attracted special attention as a means of providing a suitable background and increasing the level of production. The effect of financial markets development on the economic growth and other macroeconomic variables has been investigated in this paper. In the form of macroeconomic model by applying system simulation methods and the degree of effectiveness on the GNP through the development of financial markets has been specified using the model theory. Through simulation application of 10% development to the money market and the capital market for a period of five years (1997-2002) indicates that after the third year, financial markets development influences first the production level via increasing investments, and later the other model variables, as a result of the increase in production level and income.

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Land and urban housing have been affected by speculative demands due to heterogeneity, immobility and profitability, and have led to an increase of land and housing prices. The government, with the aim of controlling the housing market volatility, can play an important role in preventing the diversion of capital from the real sector to the housing sector and its multiple shocks. In this research, we discuss the effect of tax on real estate and housing on reduction of housing market volatility in urban areas of Iran during the period of 2011-2017, by using dynamic panel data model. The results indicate that increasing of tax rate on transfer of real estate and housing and mortgage facilities has led to a reduction in housing market volatility. Also, the raise of land prices’ growth rate, marriage growth rate and unofficial exchange rates growth rate have increased volatility of housing market.
 

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In this study, using the overlapping generation (OLG (model and the Stochastic Dynamic General Equilibrium (DSGE) approach, the optimal form of labor income tax rate and capital income tax functions is extracted for the economy of Iran using annual time series data during 1357 to 1397. The results of comparing the calibration and simulation of the designed model show that the optimal functions of labor income and capital gains tax rates are autoregressive form and also in terms of government debt to GDP ratio with the same coefficients. In fact, the tax policymaker should pay attention to the values ​​of the past period of these rates as well as the ratio of government debt to GDP with equal weight in determining current labor and income tax rates. The impulse-response functions of a positive shock to the labor income tax rate show the positive effect of this shock on savings, capital stock and GDP, and have a negative effect on the consumption of the working period, government debt and money supply. On the other hand, the impulse-response functions of the positive capital gains tax shock indicate the positive effect of this shock on consumption of working period and interest rates, but the consumption of retirement period, saving, capital stock, production, government debt and money supply have negative reactions to this shock. In general, although expansionary tax policies such as capital gains and income tax rates increase have positive effects on reducing government debt and liquidity, however, there are  negative effects of the capital gains tax rate increase on savings, capital and production, as well as the negative effect of income tax rates increasing on consumption and household welfare that should be considered, and therefore, a sudden increase on these tax rates to compensate the government budget deficit is not recommended.