this paper surveys the persian monetary crises due to economic sanctions and speculative attacks that leads to high inflation. economic sanctions are associated with various forms of trade barriers and restriction on financial transactions. among the most influential sanctions on iran's oil export and central bank sanctions are noted that their aims to reduce iran's oil revenues and devaluation...

In structural VARs, unexpected monetary tightening often leads to the price puzzle, a counterintuitive increase in inflation in the impulse response function. The identification of impulse responses requires at least a minimal set of structural assumptions, and models exhibiting the price puzzle typically use standard assumptions focusing mainly on relationships among contemporaneous disturbanc...

The monetary search model by Lagos and Wright (2005) is extended with imperfect information about nominal shocks à la Lucas (1972 and 1973). This framework is useful to estimate the welfare costs of expected and erratic inflation because it provides an avenue to identify the transactions affected by monetary shocks and how tolerant individuals are to the fluctuations of output in these transact...

This paper empirically investigates the relationship between CPI inflation uncertainty, and private investment in the Iranian economy from 1988 to 2010 by using quarterly data. We employ a bivariate VAR(5)-GARCH(1,1)-in-mean with diagonal BEKK model to discover in a unified framework how are the interactions between the variables. In the model, conditional variance of inflation and private inve...

An asset-pricing perspective on inflation reveals that it depends on current and expected monetary and fiscal policies. There are three ways to carry $1 today into the future: money, bonds, and real assets. That dollar’s purchasing power varies inversely with the price level. Expected money growth, tax rates, and government spending directly impinge on these expected rates of return of these as...

Biomass produced from energy crops, such as Miscanthus and short rotation coppice is expected to contribute to renewable energy targets, but the slower than anticipated development of the UK market implies the need for greater understanding of the factors that govern adoption. Here, we apply an agent-based model of the UK perennial energy crop market, including the contingent interaction of sup...

We use archivalXMM-Newton observations of Ark 564 and Mrk 335 to calculate the frequencydependent time lags for these two well-studied sources. We discover high-frequency Fe K lags in both sources, indicating that the red wing of the line precedes the rest-frame energy by roughly 100 and 150 s for Ark 564 and Mrk 335, respectively. Including these two new sources, Fe K reverberation lags have b...

Over the years, macroeconomic fundamentals and stock market were found to have symmetrical relationship in numerous scientific investigations. These provide crucial knowledge regarding price indices by providing forecasts for future information on current status of economy. This study employs a Nonlinear Autoregressive Distributed Lags (NARDL) model fill research gap estimating asymmetric betwe...