the financial crisis of 2007 showed that the impact of financial markets on macroeconomic developments is deep. the labor market was affected by financial variables. this paper extends the new keynesian model of a stochastic dynamic general equilibrium (dsge) for the iran economy in three context of an open economy, consider a financial frictions and frictions labor market, the impact of financ...

In this paper the optimal choice of a monetary target is investigated for a small open economy that is subject to foreign monetary policy shocks. In contrast to large parts of the literature, pegging the exchange rate is never the best policy choice for the small open economy in our model. Instead, monetary targeting and, depending on the parameter combination, producer price index targeting co...

The aim of this special issue is to provide insights into the use of Operational Research (OR) applications in the context of the digital economy and electronic commerce (e-commerce) technologies. The term ‘‘digital economy’’ (or Internet economy) refers to all the economic and social activities that are enabled by the Internet and the other Information and Communication Technologies (ICTs). Th...

The paper presents the design and the development of a real-time, open architecture controller that is used for control of reconfigurable manufacturing tools (RMTs) in reconfigurable manufacturing systems (RMS). The controller that is presented can be implemented on any controller hardware i.e. open controller. The controller is designed in such a way that it satisfies the time critical tasks r...

Virtual worlds have become very popular recently, in particular 3D virtual worlds with a built-in virtual currency that enables providers and users to monetize their creations. Virtual Worlds based on the relatively new opensource and free-to-install “OpenSimulator” software currently lack such a virtual currency framework, in particular one that can be used across the boundaries of such virtua...

The European Community operated from 1979 to 1999, before the Euro was introduced, under a pegged exchange rate regime, the European Monetary System (EMS). This was also the time period when the European unemployment rate was secularly rising. Germany was the dominant country in Europe and other countries had, to a great extent, to follow Germany’s monetary policy. Kenen (2002) calls this the l...

The paper develops a two-agent small-open economy DSGE model, to address the issue about how does the overall macro-economy respond to the fundamental housing demand shock, how does the current account has changed conjunction to the shock, and what is the monetary policy transmission to the real economy.

The phenomenon of open-source software development has already stimulated a wide debate within different academic communities (economists, information scientists, business strategists, operational researchers, etc.) and research approaches. Aim of this paper is to add a new and complementary perspective on the existing economic analysis of open-source software by comparing the structure and evo...

Digital goods are bitstrings, sequences of 0s and 1s, which have economic value. They are distinguished from other goods by five characteristics: digital goods are nonrival, infinitely expansible, discrete, aspatial, and recombinant. The New Economy is one where the economics of digital goods importantly influence aggregate economic performance. This Article considers such influences not by hyp...