conclusions the results showed that, compared to participants with normal weights, physiological and thermal perceptual responses were higher in overweight participants. therefore, overweight individuals should avoid hot/dry weather conditions to decrease the amount of heat strain. results in both groups, oral temperature, heart rate, and thermal perceptual responses increased during heat expos...

The present paper analyzes the effects of ECB monetary policy on the Spanish stock market returns. The data sample run all over the euro period: from January 1999 to December 2014. This period is split into two well-defined sub-periods based on the structural change brought about by the financial crisis in August 2007. Spanish stock market returns are approximated by the returns of the selectiv...

flation expectations. As a nominal anchor, an inflation target also provides a commitment mechanism that increases the accountability of the monetary policy authority. The inflation target communicates to the public the inflation rate at which the central bank will aim in the future. It thus serves as a reference point against which the central bank can be judged. In January 1993 the Sveriges R...

The transition to monetary and trade sustainable cooperation within the BRICS can be carried out on basis of energy economic equivalent national currencies sovereign states. International Monetary Index will link existing commodity masses states with currencies. creation two-circuit financial systems create conditions for evolutionary budget formation. Double-circuit bind equivalents goods. An ...

This paper analyses the dynamics of a monetary economy which is characterized by increasing returns to scale in ...nancial intermediation. Due to the non–convexity, two stationary monetary equilibria may exist. The ...rst equilibrium is a saddle with high economic activity and high competition in banking. In the second equilibrium, competition between banks and economic activity are low. Under ...

The influence of monetary incentives on performance has been widely investigated among various disciplines. While the results reveal positive incentive effects only under specific conditions, the exact nature, and the contribution of mediating factors are largely unexplored. The present study examined influences of payoff schemes as one of these factors. In particular, we manipulated penalties ...

A resurgence of interest in the role of banks in the transmission of monetary policy has resulted in a spate of theoretical and empirical studies. These studies have established that, under certain conditions, the traditional transmission mechanism for monetary policy ("the money view") may be augmented through changes in the supply of bank loans ("the lending view"). Because both the money vie...

In this comment, we answer the question posed in Svensson’s (2000) paper “Does the P* model provide any rationale for monetary targeting?” – in contrast to him – in the affirmative. We argue that a strategy of monetary targeting can be rationalised within the P* framework. Furthermore, we demonstrate that money growth targeting is a special form of inflation forecast targeting based on a ‘limit...

Whether a monetary policy (rule) aiming at stabilizing the economy efficiently should take exchange rate movements into consideration is an issue that recently has drawn a lot of attention. So far, however, no persuasive empirical evidence on the topic has been provided. Using well-established long-run economic equilibrium conditions building on traditional monetary views and by using cointegra...

This paper employs a structural vector autoregression (SVAR) model to investigate the monetary policy framework of a small emerging open economy Malaysia, especially how the economy dynamically respond to money, interest rate, exchange rate and foreign shocks. We establish identification conditions to uncover the dynamic effects of monetary policy shocks on various domestic variables. Following...