The microscopic effect of the exchange interaction parameter for the 2-Dimensional ising model with nearest neighbor interaction has been studied. By supposing simple temperature dependent relationship for the exchange parameter, graphs were straightforwardly obtained that show the reentrant closed looped phase diagrams symptomatic of some colloids and complex fluids and some binary liquids mix...

Some empirical and theoretical studies have emphasized on fixed exchange rate regime in controlling time inconsistency, while others consider the role of target zone regime as an important factor. Thus there is no general consensus to decide which exchange rate regime may bring about less time-inconsistency. The main purpose of this study is to investigate policy time-inconsistency in exchange ...

This paper develops a dynamic general-equilibrium (DGE) model of a small open economy to investigate alternative monetary rules, differing primarily in the degree to which they allow for exchange rate flexibility. A central argument of the paper is that the nature of the trade-off between fixed and floating exchange rates may be quite different in mature industrial economies than in emerging-ma...