Evaluating and selecting alternatives investment projects needs considering all relevant and important aspects. In traditional methods, the focus is just on tangible monetary criteria. Also in the traditional methods, either all the information’s about factors must be known precisely or sufficient objective data must be available for applying probability theory. In this paper, a combinative app...

The aging of population has become a global trend and the critical knowledge of enterprises may be lost with the retirement of senior employees. Task-based cooperation is an important method to prevent the loss of knowledge and to promote the knowledge sharing behavior between senior employees and young ones. This paper constructs the knowledge contribution payoff functions of senior employees ...

The purpose of this paper is to discuss the choice between an exchange rate target and an inflation target for Norway. The paper also contains a brief discussion of the objectives of monetary policy and of an optimal delegation of monetary policy in a representative democracy, which serves to place this choice in a broader context. 1 Monetary policy goals Let me start from the presumption that ...

Abstract This study uses annual data over the period 2005-2014 and the Panel VECM approach to examine financial inclusion and monetary policy effectiveness in Africa. The study shows that financial inclusion and monetary policy effectiveness are linked by a set of long-run relationships. Policy reaction to the positive financial inclusion shock is not significant. Policy reaction to the posit...

-Monetary policy operates in a different environment than it did a decade ago. Financial market innovations have eroded the distinctions among monetary assets, making the definition of money increasingly arbitrary. Deregulation of interest rates and banking activity is changing the behavior of the monetary aggregates, as banks pay interest on monetary assets and nonbanks offer monetary-like ass...

Financial Globalization and Monetary Policy* The process of financial globalization has significantly altered the environment in which national monetary policy authorities operate. What implications does this have for the design of monetary policy? The question can be properly addressed only in the context of a model where monetary policy interacts with financial market efficiency. This paper i...

Well before the global financial crisis, the stance of fiscal policy in a number of countries had raised concerns about risks for the outcomes of monetary policy. To provide some insights this paper examines the fiscal-monetary interactions in a novel game theory framework with asynchronous timing of moves. It generalizes the standard commitment concept of Stackelberg leadership by making it dy...