The title complex, [Mn(C(6)H(5)N(2)O(4))(2)(H(2)O)(2)], was obtained by hydro-thermal synthesis. The Mn(II) atom, which lies on an inversion centre, displays a slightly distorted octa-hedral geometry. In the crystal packing, complex mol-ecules are linked by inter-molecular O-H⋯O and N-H⋯O hydrogen bonds to form a three-dimensional supramolecular structure. The title complex is isostructural wit...

There have been numerous attempts at the formation of regional policy groupings within Latin America and the Caribbean (LAC). This paper analyses the similarities in macroeconomic policies pursued by member countries using realised correlation analysis on 26 LAC countries and observations covering the period 1970–2005. The study finds evidence of co-movement in monetary, fiscal, trade and capit...

We examine global economic dynamics under infinite-horizon learning in a New Keynesian model in which the interest-rate rule is subject to the zero lower bound. As in Evans, Guse and Honkapohja (2008), we find that under normal monetary and fiscal policy the intended steady state is locally but not globally stable. Unstable deflationary paths can arise after large pessimistic shocks to expectat...

We examine global dynamics under infinite-horizon learning in New Keynesian models where the interest-rate rule is subject to the zero lower bound. The intended steady state is locally but not globally stable. Unstable deflationary paths emerge after large pessimistic shocks to expectations. For large expectation shocks that push interest rates to the zero bound, a temporary fiscal stimulus, or...

When the zero lower bound on nominal interest rates binds, monetary policy cannot provide appropriate stimulus. We show that in the standard New Keynesian model, tax policy can deliver such stimulus at no cost and in a time-consistent manner. There is no need to use ine¢ cient policies such as wasteful public spending or future commitments to in‡ate. We conclude that in the New Keynesian model,...

An error in the original formulation of the title compound in the paper by Sadiq-ur-Rehman, Sherzaman, Ali, Shahzadi & Helliwell [Acta Cryst. (2007), E63, m2329] is corrected.The title compound in the paper by Sadiq-ur-Rehman, Sherzaman, Ali, Shahzadi & Helliwell [Acta Cryst. (2007), E63, m2329] was an unexpected product which seemed to have nitrate coordinated to three Sn atoms. However, it wa...

The government's incentives to bail out inefficient projects are determined by the tradeoff between political benefits and economic costs, the latter depending on the decentralization of government. Two effects of federalism are derived: First, fiscal competition among local governments under factor mobility increases the opportunity costs of bailout and thus serves as a commitment device (the ...

A new polymorph of dimesitylborinic acid (or hydroxy-dimesitylborane), C(18)H(23)BO, showcasing different crystal packing and symmetry, complements the previously reported polymorph [Weese, Bartlett, Murray, Olmstead & Power (1987 ▶). Inorg. Chem.26, 2409-2413; Entwistle, Batsanov & Marder (2007 ▶). Acta Cryst. E63, o2639-o2641]. The structure of the title compound contains only one mol-ecule i...

Traditionally, economic growth and business cycles have been treated independently. However, the dependence of GDP levels on its history shocks, what economists refer to as “hysteresis,” argues for unifying analysis cycles. In this paper, we review recent empirical theoretical literature that motivates paradigm shift. The renewed interest in hysteresis (or “scarring” parlance) has sparked by pe...

Hyperinflation results from the creation and injection of fiat money into the economy. Using laboratory methods, this paper examines conditions under which fiat money can serve as a medium of exchange in a finite horizon economy while the government is active in the markets for goods. Consistent with the rational expectations hypothesis, issuing new fiat currency does not stabilize a hyperinfla...