In this paper we first describe the stochastic optimal control algorithm called ((OPTCON)). The algorithm minimizes an intertemporal objective loss function subject to a nonlinear dynamic system in order to achieve optimal value of control (or instrument) variables. Second as an application, we...

This paper estimates the long-term trend of seasonal real GDP in Iran, using a new econometric technique called Adaptive Least Squares (ALS). ALS is a special case of Kalman Filter that allows a time-varying parameter model to be estimated relatively easy. The estimated trend is used to proxy...

In this paper, we investigate empirically the effect of Information and Communication Technologies (ICT) and monetary shocks as sources of business cycle in the economy of Iran. We follow of Gali's (1999) who proposes identifying technology shocks by a bivariate structural vector auto regression...

Economists and policy-makers believe that the fiscal decentralization is an effective strategy to promote economic growth. This study intends to analyze the relationship between fiscal decentralization and economic growth in Iran, over the period of 2001-2007 across the 30 provinces of the...

This paper examines the impact of modern technology including credit cards, automatic teller machines (ATM) and electronic funds of transfer at the Point-Of-Sale (POS) on money demand for Iran Using seasonal data for Iran 2001-2008. For this purpose, money demand function has been estimated on...

In general gross domestic product (GDP) is a substantial element in macro-economic analysis. Policy makers of a country use variations of GDP for long run planning. Considering different economic conditions of a country, forecasting is a useful tool to identify the variations of GDP for...