In a global economy, an efficient supply chain as a main core competency empowers enterprises to provide products or services at the right time in the right quantity, at a low cost. This paper is to plan a single product, multi-echelon, multi-period closed loop supply chain for high-tech products (which have continuous price decrease). Ultimately, considering components rated to procurement, pr...

This paper derives conditions for two key Keynesian propositions in a simple IS-LM model: (a) the paradox of thrift, and (b) the crowding-in of private investment expenditures by government expenditures. A linear specification of the model is then presented as a special case that can be used for empirical analysis. Using data for the US economy for the period 1959−2009, time series estimation o...

I embed the pricing model proposed by Dixon and Kara (2011a, b) (i.e. a Generalized Taylor Economy (GTE)) into a state of the art instance of New Keynesian economics (e.g. Christiano, Eichenbaum and Evans (2005) and Smets and Wouters (2007)). The GTE is built to account for one of the most important features of the data: heterogeneity in price spells. I estimate the resulting model for the US u...

This appendix contains additional literature review and many extensions left out of the text for reasons of space. Sections A and B critically review more of the literature on identification and determinacy in new-Keynesian and related models. If you want to know " what about x's approach to these issues? " you are likely to find an answer here. In particular, Section A.1 reviews the learnabili...

The New Keynesian sticky-price model has become increasingly popular for monetary-policy analysis. However, there have been conflicting results on the empirical performance of the model. In this paper, I attempt to reconcile these conflicting claims by examining various specifications of the model within the context of a single framework. I find that the New Keynesian model does not fit the U.S...

Those of us who take an essentially Keynesian view in macroeconomics are often accused, somewhat unjustly, I believe, of minimizing the importance of monetary forces. That contention was probably true 20 years ago for a variety of historical and institutional reasons. But much water has passed over the dam since that time, and I believe it would now be difficult to find an example of the popula...

A focal point of macroeconomic policy analysis over the past decade has been whether central banks should respond to changes in asset prices. This thesis addresses the question from the distinct perspective of equilibrium determinacy. By obtaining the conditions for equilibrium determinacy, it is possible to ascertain whether a central bank could induce additional volatility in an economy by ad...

This paper explores the relationship between the Keynesian multiplier and Pasinetti’s model of pure production. Key assumptions of Pasinetti’s model are its multisectoral structure, the definition of all income as a reward to labouring activities and, as a consequence, the operation of a pure labour theory of value. A translation between these models is effected by introducing investment as an ...