Push back design as a complex task, is one of the major steps in the open pit mines planning. Push backs can be generated by varying economic factors such as commodity price, mining cost, processing cost, etc. Another important issue in generating push backs is grade uncertainty, which can cause the problem be more complex. Conventional methods of push back design ignore grade uncertainty. To o...

T here is always uncertainty about the soundness of an economic model’s structure and parameters. Therefore, central banks normally face with uncertainty about the key economic explanatory relationships. So, policymaker should take into account the uncertainty in formulating monetary policies. The present study is aimed to examine robust optimal monetary policy under uncertainty, by ...

This paper investigates the optimal monetary policy response to a shock to collateral when policymakers act under discretion and face model uncertainty. The analysis is based on a New Keynesian model where banks supply loans to transaction constrained consumers. Our results confirm the literature on model uncertainty with respect to a cost-push shock. Insuring against model misspecification lea...

This paper extends Woodford’s (2010) approach to the robustly monetary policy to a general linear quadratic framework. We provide algorithms to solve for a time-invariant linear robustly optimal policy from a timeless perspective and for a time-invariant linear Markov perfect equilibrium under discretion. We apply our methods to a New Keynesian model of monetary policy with persistent cost-push...

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...

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...

Uncertainty appears to vary strongly over time, temporarily rising by up to 200% around major shocks like the Cuban Missile crisis, the assassination of JFK and 9/11. This paper o¤ers the …rst structural framework to analyze uncertainty shocks. I build a model with a time varying second moment, which is numerically solved and estimated using …rm level data. The parameterized model is then used ...

I study how the informational effect of monetary policy changes optimal conduct policy. In my model, private sector extracts information about unobserved shocks from central bank’s interest rate decisions. The bank optimally by committing to a state-contingent rule, in which case Phillips curve becomes endogenous optimization problem. dynamic rule overshoots natural-rate shock and gradually res...

The empirical success of Real Business Cycle (RBC) models is often judged by their ability to explain the behavior of a multitude of real macroeconomic variables using a single exogenous shock process. This paper shows that in a model with the same basic structure as the bare bones RBC model, monetary, cost-push or preference shocks are equally successful at explaining the behavior of macroecon...

The empirical success of RBC models is often judged by their ability to explain the behavior of a multitude of real macroeconomic variables using a single exogenous shock process. This paper shows that in a model with the same basic structure as the bare bones RBC model, monetary, cost push or preference shocks are equally successful at explaining the behavior of macroeconomic variables. Thus, ...