This paper provides an ontology-based set of Petri-nets for simulating the effect of business process changes on an organisation’s liquidity, and demonstrates that certain types of business process redesign can increase or reduce the amount of external funding that is required to prevent an organisation from defaulting on its debt. This debt defaulting may lead to proliferating liquidity constr...

There have been two broad theories of inflation, namely the demand-pull theory of inflation (that is nowadays mainly the monetary theory of inflation) and the cost-push theory of inflation. The mainstream macroeconomics views inflation as a monetary phenomenon in the long run. Iran has experienced double-digit rates of inflation for about four decades. Our main aim is an explanation for the lon...

This paper examines the effects of selected macroeconomic variables on the stock market index in Iran. Using quarterly data, we examine the relationships between the Tehran Stock Index (TSI) and five macroeconomic variables which consist of gross domestic product, nominal effective exchange rate, money supply, gold coin price and investment in housing sector from 1996:1 to 2008:1.Various e...

Once upon a time in a faraway place, cattle was used for money. Alas, one black and gloomy day a wicked witch destroyed half the herd. With the fall in the supply of money, consumption of milk and meat declined. In such a golden age, it is easy to construct a link between the money supply (or monetary policy) and consumption. Thus to reduce the debate among economists, maybe the U.S. should swi...

Numerous empirical studies have been devoted to analyses of diverse inflation processes and have demonstrated consistent patterns for money price relationships for various market economies. While these propositions may be valid for market economies, they do not seem to be holding for the majority of transition economies. Except for Russia and Poland, no systematic pattern for the money price re...

We consider the problem of financing two productive sectors in an economy through bank loans, when the sectors may experience independent demands for money but when it is desirable for each to maintain an independently determined sequence of prices. An idealized central bank is compared with a collection of commercial banks that generate profits from interest rate spreads and flow those through...