entrepreneurship, as one of the factors affecting economic growth, is also considered among the key factors by economic policymakers. however, in examining the issue of entrepreneurship, it should be noted that women’s and men’s entrepreneurship can be considered as two distinct and separate phenomena. therefore, the main objective of this paper is to investigate the relationship between women&...

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,...

This paper evaluates the interacted effects of the fiscal and monetary policies on the nominal and real macro-variables of the Iranian economy. Our analysis is thus based on the optimal control theory by which the optimal path of the control variables including monetary and fiscal tools are determined over the period 1963-2006. We also use a macro-econometric model in form of a simultaneous equ...

In this paper, we provide a survey of dynamic game theory with special emphasis on past and possible future applications to problems of international economic policy making, where we concentrate on macroeconomic and stabilization policy problems. First, the paper gives a brief introduction to the theory of dynamic games. Next, we show by example that dynamic game theory can provide insights int...

In developing countries, weak institutional quality can increase the probability of applying discretionary policies and can have a great impact on their double-digit inflation. Surico (2008) calculated inflation bias, but he considered just monetary policy and he did not pay attention to the institutions. Therefore, we design a model which considers the discretion in monetary and fiscal policie...

No ONE WOULD dream of designing the human anatomy by disconnecting the controls of the left and right sides of the body. Yet, for the most important economic controls in a modern economy, monetary and fiscal policies, economists today generally endorse the separation of powers as a way of optimizing noninflationary growth. What are the costs and benefits of coordination and independence in macr...