ran's economy still has a two-digit inflation rate with high fluctuations, which is mainly caused by fiscal dominance. According to the relevant literature, the most important fiscal dominance mechanism is borrowing from the central bank. After prohibiting direct borrowing from the Central Bank by Iran's government, the budget deficits are partially addressed by off-budgeting operations, achiev...

ahmad matar is the prominent iraqi poet and a committed character of this age who in the contemporary arab world enjoys great fame. since the holy qur'an and religious texts, are the inspiring references to all arab poets, ahmed matar is no exception. the borrowing of qura'nic verses and contents in his poetry is due to his understanding and his wisdom in a unique manner. this article intends t...

This paper analyzes the economic foundations of a one-party political regime, where the ruling bureaucracy captures rents through collective control over state property and job assignment. Stability of such a regime and the potential for endogenous institutional change are key issues in the transition to market economy and democracy in former socialist and many developing countries. Our model o...

We study a continuous-time version of the optimal risk-sharing problem with one-sided commitment. In the optimal contract, the agent’s consumption is a time-invariant, strictly increasing function of a single state variable: the maximal level of the agent’s income realized to date. We characterize this function in terms of the agent’s outside option value function and the discounted amount of t...

Financial constraints and differences in entrepreneurial ability are among the key factors affecting economic performance in developing countries. Emphasizing the link between the theory microfoundations and the data, the paper considers a heterogeneous agents model of occupational choice with moral hazard under three financial contract regimes differing in their degree of financial intermediat...

This article is about practices of borrowing and lending money in the context Georgian bazaar trade. While many anthropological studies focus on debtors or individual moneylenders, this starts from perspective microcredit experts, who grant loans to traders behalf their companies thereby engage complex relationships. Borrowing a institution consists an administrative act, which sealed by formal...

“Borrowing” is a lingual process that is studied in diachronic linguistics. In this process a language borrows elements from another language. This process usually occurs in areas that two languages make contact with each other. In a dialect spoken in South Khorasan the language borrowing happens. Arabs living in this part of Iran probably have immigrated in the early centuries of Islam. In thi...