This paper studies a quantitative dynamic-optimizing business cycle model of a small open economy with staggered price and wage setting. The model exhibits exchange rate overshooting in response to money supply shocks. The predicted variability of the nominal and, especially, of the real exchange rate is noticeably higher than in standard Real Business Cycle models with flexible prices and wage...

A convergence model of interest rates explains the evolution of the domestic short rate in connection with the European rate. The first model of this kind was proposed by Corzo and Schwartz in 2000 and its generalizations were studied later. In all these models, the European rates are modelled by a one-factor model. This, however, does not provide a satisfactory fit to the market data. A better...

iran's apparel market is currently filled with foreign brands that are generally ranked as high quality goods with high prices. with a surface examination of the apparel market and customers’ opinions, it can be concluded that iranian apparel, despite having lower prices, is not in a suitable status in comparison with its foreign counterparts. accordingly, the purpose of this paper is to e...

rice production in most of asian countries has been increased more rapidly than population and this has been led to increase in supply and proportionately decrease in the real price of rice in world and domestic markets. furthermore, together with growth in production and national gross income of the country per-capita income has been increased and also demand for rice at national and internati...

T he objective of this study is using the Markov Switching Vector Autoregressive method and regime dependent impulse response functions to measure the pass-through of world food prices to consumer price index in Iran from 1990 to 2013. With respect to information criteria and the log-likelihood ratio statistic, MSIA(2)-VAR(1) model has a better fit to data than other models. The magn...

The orange juice chain is a representative sector of the Brazilian agribusiness and its performance warrants analysis to identify strategies enhance competitiveness. Analysis asymmetry in food value important because it provides valuable information on market structure performance. We use an asymmetric threshold error correction model examine threshold, short- long-run asymmetries price transmi...

INTRODUCTION There are major differences in cancer drug prices around the world. However, the patterns of affordability of these drugs are poorly understood. The objective of this study was to compare patterns of affordability of cancer drugs in Australia, China, India, Israel, South Africa, the United Kingdom, and the United States. RESULTS Cancer drug prices are highest in the United States...

Could propane from Alaska’s North Slope reduce energy costs for electric utilities and residential space heating, water heating, and cooking demands? We explored the hypothesis that propane is a viable alternative for fourteen selected communities along the Yukon and Kuskokwim Rivers, coastal Alaska, and Fairbanks. Our analysis forecasts propane and fuel prices at the wholesale and retail level...