Abstract Arithmetic billiards show a nice interplay between arithmetics and geometry. The billiard table is rectangle with integer side lengths. A pointwise ball moves constant speed along segments making 45° angle the sides bounces on these. In classical setting, shooted from corner lands in corner. We allow to start at any point distances sides: either or trajectory periodic. length of path c...

Well before the global financial crisis, the stance of fiscal policy in a number of countries had raised concerns about risks for the outcomes of monetary policy. To provide some insights this paper examines the fiscal-monetary interactions in a novel game theory framework with asynchronous timing of moves. It generalizes the standard commitment concept of Stackelberg leadership by making it dy...

Since 2007, many monetary authorities have drastically changed its monetary policy. They began an aggressive struggle with the biggest economic crisis since the Great Depression. Despite the substantial decline in Central banks interest rates in US and EMU and despite the sharp easining of monetary policy in many other countries, the cost of credit to both households and businesses has generall...

The history of monetary policy in Iran, judging by their performance in keeping the value of the currency, maintaining a steady growth in the Gross Domestic Product, faltering investment, show that monetary policy has not been a portrait of consistent successes, to say the least. As a result of the recent studies two rules have emerged as guideline for policy makers: Taylor rule and McCallum ru...

In this paper we survey the historical record for over two centuries on connection between expansionary fiscal policy and inflation. As a backdrop, briefly lay out several theoretical approaches to effects of deficits inflation: earlier Keynesian monetarist approaches; modern incorporating expectations forward looking behavior: unpleasant arithmetic theory price level.We find that relationship ...

The paper investigates the public’s attitude towards monetary union arrangements associated with different levels of monetary policy autonomy. The results indicate that support for monetary union declines significantly with expected loss of autonomy. Survey data from Kenya shows that public support for the proposed East African Community monetary union is highest in an arrangement where the cou...