In this paper, we introduce non-interest profit/loss sharing (PLS) banks into a three-period overlapping generations model. Two types, (low- and high quality) investments are assumed and capital accumulation and level of ...

The Rational Expectations Permanent Income Hypothesis implies that consumption follows a martingale. However, most empirical tests have rejected the hypothesis. Those empirical tests are based on linear models. If the data ...

Increasing concern over the regional dimensions of national economic planning since 1970s, has constituted appropriate baselines for scientific analysis of regional differences The Iranian planning views in the pre and ...

During the 1960's, many as was firmly supported by the historical founders of econometrics, had hoped that econometrics would provide a sound scientific foundation for econometrics in which each element of specification ...