Institute for Management and Planning studies 3115-7092 3115-7106 22 1 2017 6 1 Boom-Bust Cycles in Iran’s Housing Prices: An Ms-Var Approach 3 32 FA Naser Khiabani Faculty of Economics, Allameh Tabataba'i University naser.khiabani@atu.ac.ir N Shaghayegh Shajari Pourjaberi Faculty of Economics, Allameh Tabataba'i University shagha.shri@gmail.com Y The economy of Iran has witnessed a couple of booms and busts in housing prices over the period of 1981(1)-2014(4). Since the fluctuations in housing prices affect household wealth, and consequentially, total consumption, saving and even banking, it is of crucial importance to analyze the impact of such fluctuations on real economy. This study, utilizing the MSIAH -VARX model, examines booms and busts in housing prices in Iran over the aforementioned period. This approach offers the possibility to identify different regimes in Iran’s housing market. Moreover, the probability of staying in one regime as well as that of transition from one regime to another could be estimated. The findings indicate that during the aforementioned period, there are two regimes of boom and bust in housing prices. Furthermore, the probability of staying in a bust regime is greater than that of a boom regime. Housing Price, Boom-Bust Cycles, Moving Markov, MSIAH -VARX Model, Credits http://eprj.ir/article-1-1505-en.html http://eprj.ir/article-1-1505-en.pdf

Institute for Management and Planning studies 3115-7092 3115-7106 22 1 2017 6 1 Examining the Welfare Impacts of Environmental Policies for Importing Clean Technologies 33 45 FA Hamideh Esfahani Department of Economics, Institute for Management and Planning Studies h.esfahani@imps.ac.ir Y Saeedeh Mahdavi Zafarghandi Institute for Management and Planning Studies, saeedeh_mah68@yahoo.com N The growth of economic activities may lead to increased emissions and detriment of the environment. Hence, pursuit of policies to moderate the environmental impact of economic activities has always been the main concern of policymakers and economic researchers. This study attempts to assess the policy that supports importing green products in order to reduce local pollution. In the model, a polluting firm and welfare maximizer social planer play a Stakelberg game. The results show that the government may use environmental policy as to import green products to reduce pollution and enhance the welfare. By implementing this policy, the domestic firm has an incentive to invest in clean technologies in order to reduce government motivation to green import. Environmental Pollution, Green Importing, Green Technology, Public Firm, Welfare Consequences http://eprj.ir/article-1-1470-en.html http://eprj.ir/article-1-1470-en.pdf

Institute for Management and Planning studies 3115-7092 3115-7106 22 1 2017 6 1 An Empirical Test of the Role of Technological Progress on the Share of Employment of Higher Educated Labor Force 47 71 FA Maryam Malakan Department of Economics and Accounting, Islamic Azad University Central Tehran Branch maryam_malakan@yahoo.com Y Alireza Amini Islamic Azad University Central Tehran Branch aramini2005@gmail.com N  In recent years, there has been a rapid increase in unemployment rate of university graduates. One of the feasible resorts to solve this problem is to increase skill intensity in industrial activities. In this study, an experimental test has been conducted to determine the role of technological progress on skill intensity in establishments with 10 employees and more. To this end, the model pertaining to the share of employees with higher education is estimated by using panel data for the period 2006-2013 at the level of ISIC two-digit code and econometric fixed effects method. The results of the estimated model, using EGLS, indicate that the effect of technological progress – in form of indices of ratio of R&D capital to value added and ratios of computer and Internet users – on the share of labor with higher education is significant and positive. In addition, control variables such as firm size have significant and positive effect on the share of employment of higher educated labor, while index of labor intensity has a significant and negative effect on it.  Technological Progress, Skill-intensive, Labor-intensive, R&D Capital, Firm Size, Information and Communication Technology http://eprj.ir/article-1-1543-en.html http://eprj.ir/article-1-1543-en.pdf

Institute for Management and Planning studies 3115-7092 3115-7106 22 1 2017 6 1 The Impact of Capital Structure and Ownership Structure on the Survival of Companies in Tehran Stock Exchange Market 73 101 FA Mehdi Rasouli Ghahroudi Institute for Management and Planning Studies m.rasouli@imps.ac.ir Y Ehsan Fakhraei Institute for Management and Planning Studies ehsan20_fakhraei@yahoo.com N This study examines the impact of capital structure and ownership structure on the survival of companies. The ownership structure includes two types of ownership: major structure and institutional ownership. The statistical population consists of 484 companies listed in Tehran Stock Market for the period 2004-2014; eventually, through a systematic elimination method, our samples includes 234 companies. In this research, the logistic regression model and Eviews-9 software are used to analyze the data and test the hypotheses. The results of the research show that there is a negative and significant relationship between capital structure and company survival. In addition, major ownership has a negative effect on the survival of companies in the stock market. Moreover, the results indicate the positive and direct impact of institutional ownership on the survival of the companies. Therefore, our findings show that the increase in corporate debt and major ownership increases the probability of company's withdrawal from the stock market. However, the increase in institutional ownership and company stock prices will increase the probability of survival in the stock exchange market. Capital Structure, Ownership Structure, Institutional Ownership, Major Ownership, Survival, Tehran Stock Exchange Market. http://eprj.ir/article-1-1509-en.html http://eprj.ir/article-1-1509-en.pdf

Institute for Management and Planning studies 3115-7092 3115-7106 22 1 2017 6 1 Social Networks and their Role in the Economy 103 141 FA Amir Habibdoust Faculty of Economics and Administrative Sciences, University of Mazandaran amirhabibdoost@yahoo.com Y Zahra (Mila) Elmi Faculty of Economics and Administrative Sciences, University of Mazandaran z.elmi@umz.ac.ir N Network of connections is an informal institution, which affects agents’ decisions as well as their outcomes. Dominant neoclassical paradigm has neglected the role of connections and links, due to its atomistic view, while social networks can play a crucial role with regards to economic and social phenomena, such as migration, job finding, crime network, learning, financial crisis contagion, microfinance, risk sharing and so on. In recent years, economic-social networks have attracted economists’ attention, nonetheless, for some reasons, it is not well considered in Iran yet. Accordingly, this paper aims to not only introduce some fundamental and mathematical concepts on economics of networks, but also review several central questions correspondingly. Indeed, all issues and topics can be categorized under the four following questions. How can analyzing structure and topology of networks help economic analysis? How does social network affect agents’ outcomes? How does social network form from economic point of view?  How can one estimate such effects?  Social-Economic Network, Informal Institution, Network Structure, Network Effect, Network Formation. http://eprj.ir/article-1-1493-en.html http://eprj.ir/article-1-1493-en.pdf

Institute for Management and Planning studies 3115-7092 3115-7106 22 1 2017 6 1 A Reflection on the Principle of Voluntarism in the Contracts of Assignment of Government Shares in the Process of Privatization 143 173 FA Akbar Mirzanezhad Jouybar Amjouybary@yahoo.com Y The principle of voluntarism has essential role in formation of contract, choice of contract party and ascertaining the terms of contract in the law of contract in Iran. However, the position of this principle as for contracts of assignment of government shares in the process of privatization, specifically with respect to the power and authority of contract parties to ascertain the terms of the contract, is not clear and decided. This study attempts to clarify whether the terms of contract are already ascertained or the contract parties (state and buyer) are authorized to negotiate about them and determine voluntarily the contents of the contracts. The results show that major part of content of these contracts are terms that are enacted by Parliament, Supreme Council of implementation of constitution 44th principle general policies, and Board of Assignment; In fact, Iranian Privatization Organization and buyers don’t have any significant role in ascertaining the content of these contracts. However, these institutions’ authority in determining the content of the aforementioned contracts is subject to specific restrictions, rules and criteria, nonetheless the Principle of Voluntarism do not govern these contracts in the same way that is observed in the private contracts. Privatization, Public Sector, Non-Governmental Public Institutions, Private Sector, Ownership, Management http://eprj.ir/article-1-1667-en.html http://eprj.ir/article-1-1667-en.pdf