the subject of monetary policy orientation and tailoring a framework within which the credibility and desirability of the policies and the policy makers is enhanced, while the most important goal of policies, i.e reaching to and preserving a low and stable inflation rate is achieved, has recently been a controversial issue for a large number of economists. in fact the necessity arised since the...

Let K/F and K/L be two cyclic Galois field extensions and D = (K/F, σ, c) a cyclic algebra. Given an invertible element d ∈ D, we present three families of unital nonassociative algebras over L ∩ F defined on the direct sum of n copies of D. Two of these families appear either explicitly or implicitly in the designs of fast-decodable space-time block codes in papers by Srinath, Rajan, Markin, O...

Nowadays, consumers use information devices to products and services through various channels. Omnichannel promotes sales improvement by allowing businesses secure multiple It provides with a wider range of choices monetary advantages. As such, omnichannel facilitates economic sustainability as major platform for commerce. The purpose this study is identify the determinants consumers’ continuou...

This paper tests whether or not gains to monetary policy coordination exist in the New Keynesian two country model proposed in Clarida, Gali and Gertler (2002). Major innovations include rigorous numerical analysis that takes advantage of recent techniques proposed by Laffargue (1990) and Klein (2000) and an attention to robustness analysis as advocated by McCallum (1999) by comparing all resul...

Countries select particular exchange rate arrangements for a variety of reasons. For example, the ability to conduct an independent monetary policy is often cited as the main advantage of having a floating exchange rate regime. Conversely, countries sometimes tie their exchange rate to that of a larger country—foregoing the ability to conduct independent monetary policies—to benefit from the re...

This paper uses a New Keynesian framework to study the coordination of fiscal and monetary policies, in response to an inflation shock when the policymaker acts with commitment. We first show that, in the simplest New Keynesian model, fiscal policy plays no part in the optimal policy response, because of the comparative advantage which monetary policy has in the control of inflation. We the...

The economic performances of the Eurozone look weaker than those of the United States over the period 1999-2006, in spite of the fact that the former applies more thoroughly the 'new macroeconomics' governance rules concerning public deficits and inflation control. The literature emphasizes Alan Greenspan's pragmatism when discussing the relative success of the Fed, but the reasons why pragmati...

To provide an example we start with the perspectives. From a patient’s perspective, the alternative ways of action may be either immediate surgery or watchful waiting if there is a realistic chance of spontaneous regression. The costs for the patients will be an increased risk of complications in case of watchful waiting. The consequence (advantage for the patients) in this situation is the cha...

Measurements of CDP sample area were made in urgent but brief laboratory studies for RAF's two CDP probes (s/n #58 and #16). These two probes are nominally identical, but the features of these probes have changed over the past year, as follows: (a) electrical damage of #58 during the ICE-T project (July 2011) required rebuild by DMT; (b) December 2011 electronics and firmware upgrades were made...