Nowadays financial markets such as stock markets, gold and currency because of their significant returns are the investors’ main target. Their aim is to invest in a way that they can earn the highest profit. Among these markets, the stock market is of utmost importance since it deals with...

This paper measures the distributional and welfare impacts of cutting commodity subsidy and paying cash subsidy. We introduce an extended Input-Output model employing a non-linear programming approach. The model is calibrated based on 2004 Iranian Micro Consistent Matrix with 56 commodity...