In this paper we consider a standard policy game between the Government and a union. In such a framework, we first investigate the effects of corporatism on macroeconomic performance vis -à-vis different kinds of non-cooperative equilibria. Afterwards, we introduce in the literature the issue of the feasibility of corporatism, i.e., whether and under what conditions it is in the interest of bot...

The reference laboratories of the Australian Meningococcal Surveillance Programme report data on the number of cases confirmed by laboratory testing using culture and by non-culture based techniques. Culture positive cases, where Neisseria meningitidis is grown from a normally sterile site or skin lesions, and non-culture based diagnoses, derived from results of nucleic acid amplification assay...

Yes, it makes a lot of sense. Using the Smets and Wouters (2007) model of the U.S. economy, we find that the role of the output gap should be equal to or even more important than that of annualized inflation when designing a simple loss function to represent household welfare. The high weight on the output gap is driven by several important characteristics in the estimated model, including a lo...

Enzymology of the Liver Frontiers of Gastrointestinal Research Vol. 2 Series Editor: LEO VAN DER RBIS, San Francisco, Calif. Editorial Board: R. LAMBERT, Lyon; S. LORBER, Philadelphia, Pa.; D. W. PIPER, Crows Nest, N.S.W.; H. SHIRAKABE, Tokyo; K.B. TAYLOR, Palo Alto, Calif.; N. ZLLNER, Munich S. Karger Basel' Mnchen . Paris' London' New York' Sydney Enzymology of the Liver Editor: LEO VAN DER R...

This paper studies optimal monetary and fiscal policies in an economy à la Lucas and Stokey (1983) and Lagos and Wright (2005) with multiple cash and credit goods. We show that optimal policies are in general time inconsistent due to insufficient number of instruments to influence future government decisions. There are two important cases where time consistency can be restored. First, if taxes ...

The cardiac ryanodine receptor (RyR2)/calcium release channel on the sarcoplasmic reticulum is required for muscle excitation-contraction coupling. Using site-directed mutagenesis, we identified the specific Ca /calmodulindependent protein kinase II (CaMKII) phosphorylation site on recombinant RyR2, distinct from the site for protein kinase A (PKA) that mediates the “fight-or-flight” stress res...

Using a Markov-switching Bayesian likelihood approach, the paper proposes a new measure of the degree of credibility of the Federal Reserve. We estimate a medium-scale macroeconomic model, where the central bank has access to a commitment technology, but where a regime-switching process governs occasional re-optimizations of announced plans. The framework nests the commonly used discretion and ...

the paper examines for the first time the foreign exchange intervention policy in foreign exchange market of iran. and in this framework, the study designs and simulates the foreign exchange intervention model in iran. in the first section, the paper shows that the injection of oil revenues directly to economy and also the absence of potent structure of output are inclusively caused the central...