Radio Frequency Identification (RFID) is a highly beneficial technological advancement which could eventually change the way of doing business. However, the difficulty in assessing the potential benefits of RFID has been delayed RFID related investment decisions within organizations. Especially, time lag, or payback time from RFID investment, has been one of key barriers in RFID investment. Thi...

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...

Abstract This paper proposes an alternative estimation method for cointegration, which allows variation in the leads and lags cointegration relation. The is more powerful than a standard method. Illustrations to annual inflation rates Japan USA seasonal quarterly consumption income shows its ease of use empirical merits.

This paper reexamines the oil price-macroeconomy relationship with rolling Granger causality and structural stability tests. It finds that the relationship broke down amidst the falling oil prices and market collapse of the 1980s, suggesting misspecification of the oil price rather than a weakened relationship. Some proposed respecifications of the oil price yield considerable improvements, alt...

he introduction of Treasury inflation-protected securities (TIPS) in the United States in 1997 offered multiple potential benefits. First, the development was intended to offer investors a security that would enable them to hedge inflation. Second, by taking on the risk of inflation, the U.S. Treasury Department would not have to pay an inflation risk premium on its securities, thereby lowering...

it is expected that inflation in a country with one currency is convergent in all regions. this has been associated with “convergence” directly. in policymakers’ viewpoint, convergence is a serious topic. although the topic of inflation is investigated in macroeconomics, some inflation indexes, for instance inflation of food prices has attracted special attention. generally, the issue of food i...

Radio Frequency Identification (RFID) is a highly beneficial technological advancement which could eventually change the way of doing business. However, the difficulty in assessing the potential benefits of RFID has been delayed RFID related investment decisions within organizations. Especially, time lag, or payback time from RFID investment, has been one of key barriers in RFID investment. Thi...

Determining how monetary policy makers react to changes in key economic variables has been of major interest to monetary economists. Estimates of monetary policy rules (reaction functions) are a widely used method for doing this. Behavior differs under different policy regimes, as in rule-based systems or chronic inflation. In practice, estimates of instrument rules have been used to descri...