Policy evaluation is a process to determine whether a request submitted by a user satisfies the access control policies defined by an organization. Modality conflict is one of the main issues in policy evaluation. Existing modality conflict detection approaches do not consider complex condition attributes such as spatial and temporal constraints. An effective authorization propagation rule is n...

The central bank’s monetary policy targets are usually assumed to be constant overtime for simplicity when estimating a Taylor rule, but recent studies have shed some light on the time variation in policy targets, especially in the inflation target. The potential bias due to misspecification of the time variation can be quite considerable, especially in regime-swtiching models. In this paper, w...

Oil price shocks are the main source of macroeconomic fluctuations in oil exporting countries. It is believed that appropriate monetary policy can help to stabilize these unwanted variations toward optimal allocations. A stochastic dynamic general equilibrium model featuring the properties of both cost push and wealth effect transmission channels is developed for the Iranian economy. In thi...

Using Ternary Content Addressable Memory (TCAM) for general policy filtering has been gaining popularity due to TCAM’s deterministic and fast lookup performance. However, the policy table updating poses significant challenge for efficient use of TCAM for policy filtering. To avoid erroneous and inconsistent rule matching while a policy table is being updated, the traditional wisdom is to lock t...

Beginning with the Reserve Bank of New Zealand Act of 1989, central banking reforms have focused on assigning clear goals for which monetary policy authorities can be held accountable. Inflation targeting regimes provide examples of such goal-based policy frameworks. An alternative approach, recently argued for by John Taylor (2012, 2014), relies on a rule-based framework in which the policy au...

This paper estimates a sticky-information general-equilibrium model for the United States and the Euro-area, and uses it as a laboratory to answer monetary policy questions. The …rst set of questions is positive and concerns describing past monetary policy: what policy rule has best described policy? What has been the role of stabilization policy? How large have policy errors been? What is the ...

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This paper examines under what conditions fiscal policy in the form of government spending should contribute to macroeconomic stabilisation. To this end optimal fiscal targeting rules minimising the microfounded social loss are examined in the following settings. Firstly, for the benchmark New Keynesian model, where monetary policy is unconstrained, a neutrality result for fiscal obtains: fisca...

In times of rapid macroeconomic change it would seem useful for both fiscal and monetary policy to be modified frequently. This is true for monetary policy with monthly meetings of the Open Market Committee. It is not true for fiscal policy which mostly varies with the annual Congressional budget cycle. This paper proposes a feedback framework for analyzing the question of whether or not moveme...