a new mathematical model for the optimal production isformulated for the inventory management system under time-varyingand stochastic inflation environment for deteriorating items. the timehorizon is finite and demand rate is dependent to the inflation. in thereal situation, some but not all customers will wait for backlogged itemsduring a shortage period, such as for fashionable commodities or...

one of the most important objectives of any economic system is to achieve to low and stable inflation and sustained economic growth. in this study, first, bayesian causal is indentified effective factors on inflation and then using bayesian causal network and determining prior probabilities and posterior probabilities in different scenarios,it is discussed the impacts of this factors on inflati...

The output gap measured as the percentage deviation of actual from its potential level is an indicator economy’s achievement. Output has been important concept used for forming policies. In this study, we estimated and gap, established some macro-economic determinants Ethiopian economy. By using yearly data spanning 1990 to 2018, study HP filtering, production function approaches. Accordingly, ...

This paper analyses the impact of using different macroeconomic variables and output decompositions to estimate the euro area output gap. We estimate twelve multivariate unobserved components models with phase shifts being allowed between individual cyclical components. As output decomposition plays a central role in all multivariate models, three different output decompositions are utilised; t...

I argue that the gap between consumer price index (CPI) inflation and actual inflation varies systematically across the business cycle. CPI inflation is the change in expenditure required to afford a fixed basket of varieties. Actual inflation is the change in minimum expenditure required to afford a given level of utility. In a New Keynesian model with variety entry and exit and sticky prices,...

This paper undertakes a cross-country study on the price-output gap relationship for selected industrial countries (Japan, the U.S., Germany, the U.K. and Canada). The estimation results show that the price-output gap relationship in these countries can be classified into two categories: (1) a Phillips Curve-type (in which the output gap fluctuation affects the inflation rate); and (2) a NAIRU ...