Proprietary capital falling into the public domain inefficiently decreases accumulation. As a consequence, market steady state consumption underperforms planner's by 4.6%–9.1% in neoclassical infinitely-lived agents economy with constant returns to scale and standard empirically supported parameters. The results extend robustly an overlapping generations economy, for which gap is 10.5% when sim...

LINKED CONTENT This article is linked to Khanna & Camilleri papers. To view these articles, visit https://doi.org/10.1111/apt.16143 and https://doi.org/10.1111/apt.16290

this paper extends endogenous growth models through augmenting it with government budget and oil revenues as well as the effect of public investment efficiency on long run growth of private and government consumption and import for an oil producing economy. based on the extracted model, the optimal growth rate of government current expenditure (or consumption) has a positive relation with the e...

abstract the objective of this study is to investigate the long run and short run interactions between agricultural trade liberalization and shares of the two sectors of agriculture and services in the total export and import products and services of iran during the years 1961-2008. to figure out interactions, the vector correction model was used. the ratio of the sum of imports and exports to ...

This paper focuses on internal and external factors, which influence the inflation rate in developing countries. A monetary model of inflation rate, capable of incorporating both monetary and fiscal policies as well as other internal and external factors, was developed and tested on Iranian data. It was found that, over the long run, a higher exchange rate leads to a higher price and that the f...

when the past observations are correlated with future observations and their correlation is significant, the time series has long memory. in this paper the contagion effect of volatilities, with consideration of long-run effect, is investigated. the basic model is bekk (1, 1) and fbekk (1,d,1), model extended long-run memory parameter (d) is considered and estimated. furthermore in this paper p...

this study develops a long run optimal pattern for nomadic ranchers of fars province under climate uncertainty by simulating dynamic process of livestock and forage productivity as well as employing dynamic stochastic programming. results indicate that the nomadic representatives do not perform, optimally. despite their attachments to livestock as an asset, and their life dependency on livestoc...