We consider performance contracts with firm private information. The verifiable components of the contract, an up-front wage and employment, may serve both as a signal and a performance incentive. Job rent may be necessary for signaling and, since efficient signaling is multidimensional, there...

SUMMARY This paper develops a long‐run output relation for a major oil‐exporting economy where the oil income‐to‐output ratio remains sufficiently high over a prolonged period. It extends the stochastic growth model developed in Binder and Pesaran (1999) by including oil exports as an...

The following section are included:IntroductionThe FrameworkSocial Order and Economic Conditions in Iran in Early 20th CenturyTransformation of Social Order under Reza ShahEconomic and Political Change under Mohammad-Reza ShahFormation of the Islamic Republic under Ayatollah...

Economists have long relied on cross-country regression analysis to identify the determinants of continued growth, but with only limited success. This book demonstrates the value of a different approach.

The gender gap in labor force participation (LFP) in Iran is much larger than most other countries, but it has been declining. Also, the composition of women's employment has been shifting towards professional and entrepreneurial positions, especially in the private sector. Analyzing the forces...

This paper presents an error-correcting macroeconometric model for the Iranian economy estimated using a new quarterly data set over the period 1979Q1–2006Q4. It builds on a recent paper by the authors, Esfahani, Mohaddes, and Pesaran (in press), which develops a theoretical long-run growth...