In an influential paper, Aoki (2001) used a closed-economy setup with two sectors – with flexible and sticky prices, respectively – to conclude that it is optimal for inflationtargeting central banks to react only to the inflation rate of the sector with the highest degree of price rigidity. Aoki’s paper also implies that targeting aggregate “average” indices such as the Consumer Price Index (C...

The theory of the “Dutch Disease” predicts that income from oil and other natural resources produces negative economic consequences through two different mechanisms. The “Resource Movement Effect” suggests that workers leave manufacturing for higher-paying jobs in other sectors. The “Spending Effect” implies that spending resource wealth domestically leads to exchange rate appreciation. The com...

(exogenous, tradable) income as a result of structural changes such as technological progress, improvement in export prices, etc.. Thus, a multiplier of 2.0 suggests an addition of $1.00 on extra income for each $1.00 of new agricultural income , through a re-spending on non-tradable consumer items and intermediate inputs. PAST TRENDS AND FUTURE PROSPECTS FOR AGRICULTURAL DEVELOPMENT IN SUB-SAH...

comparative advantage of corn in comparison with other competing crops was investigated applying linear programming, to 2004-2005 data related to classic index (drc) in khuzestan. results showed that corn benefits from a comparative advantage in all cities of khuzestan province with acreage having been increased in the cultivation pattern of 37.5 % of the cities. in addition, comparing optimal ...

background and objectives: food poisoning has been always a major concern in health system of every community and cream-filled products are one of the most widespread food poisoning causes in humans. in present study, we examined the preservative effect of the cinnamon oil in cream-filled cakes. methods: antimicrobial activity of cinnamomum verum j. presl (cinnamon) bark essential oil was examin...

An auction of carbon permits is the best way to achieve carbon caps set by international negotiation to limit global climate change. To minimize administrative costs, permits would be required at the level of oil refineries, natural gas pipe lines, liquid sellers, and coal processing plants. To maximize liquidity in secondary markets, permits would be fully tradable and bankable. The government...

An auction of carbon permits is the best way to achieve carbon caps set by international negotiation to limit global climate change. To minimize administrative costs, permits would be required at the level of oil refineries, natural gas pipe lines, liquid sellers, and coal processing plants. To maximize liquidity in secondary markets, permits would be fully tradable and bankable. The government...

We study individual compliance behavior with respect to a legal norm in an experimental setting under two different regulatory instruments: emission standards and tradable pollution permits. Compliance to the same set of standards and expected permit holdings was induced with different structures of the fine schedule, namely: a linear and a strictly convex penalty function. Even though our desi...