Institute for Management and Planning studies 2251-9092 8 1 2003 7 1 Application of Regional Input-Output Table Generated by GRIT Method for Examining Employment Generation and Importance of Housing Sector in Isfahan Province 3 30 FA Majed Sameti Mehdi Majid Naraghi Regional Input-output tables historical background goes back to 1950 when its idea was proposed by Walter Isard. In Iran, regional accounts generation started in the fifth development plan before the Islamic Revolution, but these accounts have been generated only for some provinces. The generation and completion of these accounts and tables on the basis of surveying and mechanical methods or a combination of the both is possible. Each one has its own advantages and disadvantages. In order to know long-run socio-economic and cultural development strategies and situations, Isfahan Province Macroeconomic Specialized Committee used GRIT method for generating the province’s input-output table which was a multpurpose combined method. After introducing GRIT method by applying input-output table and employment statistics of Isfahan province, the paper explains the important role of different economic sectors in developing employment while putting emphasis on housing and construction sector. As you know, the most essential feature of input-output table is to show interlated links among different economic sectors. Meanwhile, the influence of economic activities on the provincial development could be evaluated by calculating some indicators extracted from these tables.

Institute for Management and Planning studies 2251-9092 8 1 2003 7 1 31 49 FA Firozeh Azizi

Institute for Management and Planning studies 2251-9092 8 1 2003 7 1 Methods of Estimating Equilibrium Velocity of Money and Empirical Volatility Test in Iran (1961- 1998) 51 76 FA Elham Atminan There are various ways for estimating velocity of money in economic literature and each has its own specific weaknesses and strengths. Particularly, since a great deal of financial innovations and changes have recently taken place affecting the velocity of money, many traditional methods can no langer calculate the equilibrium velocity of money, and they are no longer dependable from the econometrical analyses viewpoint. Evidently, the fact that velocity of money hypothesis is not satisfied due to various causes has convined some economists that the economic authorities can not depend on monetary variables for influencing the price levels. Long-run equilibrium velocity of money may depend on a function of endogenous variables such as real production, price level, interest rate, financial sector general structure and so on. Hence, today one can not consider the stability hypothesis of the velocity of money as satisfiable in many countries. This paper tries to estimate equilibrium velocity of money in Iran within (1961-1998) through reviewing different methods of money velocity estimation and by the use of advanced econometrical techniques. For this purpose, Iran’s equilibrium vectocity of money was estimated by autoregressive vector values and Hodric-Prescott filtering and as it was expected Iran’s velocity of money was volatile, and foregin exchange rate fluctuations had the most impact on the velocity of money fluctuations.