We study the demand function of a group of S members facing a global budget constraint. Any vector belonging to the budget set can be consumed within the group, with no restriction on the form of individual preferences, the nature of individual consumptions or the form of the decision process beyond efficiency. Moreover, only the group aggregate behavior, summarized by its demand function, is o...

We study the demand function of a group of S members facing a global budget constraint. Any vector belonging to the budget set can be consumed within the group, with no restriction on the form of individual preferences, the nature of individual consumptions or the form of the decision process beyond efficiency. Moreover, only the group aggregate behavior, summarized by its demand function, is o...

We estimate a time-varying parameter VAR (TVP-VAR) with stochastic volatility using U.S. data to study the effects of uncertainty shocks on inflation. find response inflation be negative in post-WWII period. Our findings suggest that propagate like aggregate demand and not supply shocks.

estimation of agricultural sector demand and supply and identification of its determinants could lead to more efficient policies and planning of this section. in this study, aggregate demand and supply of agriculture sector for years of 1959-2007 by using of nonlinear restricted armax model are estimated. result indicates that aggregate agriculture demand is inelastic in short and long run. tho...

The demand forecasting is essential for all production and non-production systems. However, nowadays there are only few researches on this area. Most of researches somehow benefited from simulation in the conditions of demand uncertainty. But this paper presents an iterative method to find most probable stochastic demand point with normally distributed and independent variables of n-dime...

On 8 October 1992, three weeks after sterling’s departure from the Exchange Rate Mechanism of the European Monetary System, Norman Lamont, then Chancellor of the Exchequer, established a new framework for monetary policy based on a range of 1%–4% for annual RPIX inflation.(1) In 1997 this framework was further developed with the Bank of England being given operational independence and a symmetr...

This paper demonstrates, contrary to what has been shown recently, that demand pressure, besides differentiated cost-pressure, matters both in the labor market and the market for goods in the determination of wage and price inflation. We consider from the theoretical perspective and estimate for the USA, using OLS and more advanced methods, both separately and simultaneously wage and price Phil...

in this paper the trade restrictiveness of agricultural policies in iran was measured by the triindex for the nine major agricultural products including wheat, rice, barely, maize, soybean,meat (beef meat), soybean oil, sugar and banana over the period 1981 to 2007. the main resultsindicate that there is no trend in above index and high volatility especially in 2006 and 2007years due to conside...

Optimal Price Indices for Targeting Inflation under Incomplete Markets In models with complete markets, targeting core inflation enables monetary policy to maximize welfare by replicating the flexible price equilibrium. In this paper, we develop a twosector two-good closed economy new Keynesian model to study the optimal choice of price index in markets with financial frictions. Financial frict...