Modeling the Impact of the Corona Pandemic on the Production of Industries: Application of Wavelet Analysis in Selected Industries of Tehran Stock Exchange

Amin Mansouri, Morteza Afghah () and Maryam Hoshdari ()
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Morteza Afghah: Associate Professor of Economics, Faculty of Economics and Social Sciences, Shahid Chamran University of Ahvaz
Maryam Hoshdari: Master of Economics, Faculty of Economics and Social Sciences, Shahid Chamran University of Ahvaz

Quarterly Journal of Applied Theories of Economics, 2022, vol. 9, issue 1, 175-206

Abstract: The main purpose of this article is to evaluate the effects of the Corona virus epidemic on the production of Iranian manufacturing industries. In order to identify corona waves, in the first part, wavelet analysis is used in the daily time period from March 2019 to March 2020, and in the second part, the effect of different wavelengths on 12 automotive, refining and transportation companies and 15 companies. Food, pharmaceutical and insurance, in the monthly period from April 2017 to March 2019 has been analyzed using panel data and EGLS method. In this study, daily to annual corona wavelengths as well as explanatory variables of inflation and monetary index have been used to examine the economic situation of companies during the corona. The results of wavelet analysis and continuous wavelet transform scalogram indicate that the first, second and third corona peaks are the strongest corona waves. Interpretation of the model estimation results shows that between daily to annual corona waves, daily, weekly and quarterly corona waves have a significant negative effect on company sales. The monthly corona wave, meanwhile, shows a positive effect on corporate sales. Based on the results of the model, it was also found that inflation has a positive effect on sales and production of companies and more deposits than facilities has been able to increase the production and sales of companies

Keywords: Corona; Wavelet; Industries; Panel Data; EGLS (search for similar items in EconPapers)
JEL-codes: C23 L11 O41 (search for similar items in EconPapers)
Date: 2022
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