The positive response of prices to an increase in interest rates or contractionary monetary policy has been documented by several empirical studies.2 According to monetarist as well as IS-LM models, an increase in interest rates or contractionary monetary policy reduces aggregate demand leading to a decrease in the price level. As a result, this positive response of prices to positive interest ...

medicines constitute a substantial proportion of out-of-pocket (oop) expenses in indian households. in order to address this issue, the government of india launched the jan aushadhi (medicine for the masses) scheme (jas) to provide cheap generic medicines to the patients (http://janaushadhi.gov.in/about_jan_aushadhi.html). these medicines are provided through the jan aushadhi stores established...

Motivated by the widespread adoption of dynamic pricing in industry and the empirical evidence of costly price adjustments, in this paper we consider a periodic-review inventory model with price adjustment costs that consist of both fixed and variable components. In each period, demand is stochastic and price-dependent. The firm needs to coordinate the pricing and inventory replenishment decisi...

The parsimony of economic theory provides general insights into an otherwise complex world. However, the most straightforward organizing principles from theory have not often taken hold in environmental policy or in the decentralized climate policy regime that is unfolding. One reason is inadequate recognition of a variety of institutions. This paper addresses three ways the standard model may ...

generally, high oil prices slow economic growth, cause inflationary pressures and creates global imbalances. in addition, oil price volatility increase uncertainty and restrain the much-needed investment in the capital market. thus, this paper applies the augmented dickey fuller and johansen co-integration tests in which the effect of oil price volatility, crude oil price and stock price is ana...