the ultimate goal of monetary policy is to achieve price stability and high output. in this regard, central banks usually change the interest rate, liquidity, and money base in order to apply monetary policies. the john b. taylor rule is one of the rules known in the transmission of monetary policy.[1] based on this rule and given the output gap and inflation gap, the central bank increases or ...

We present a method for determining the globally optimal on-line learning rule for a soft committee machine under a statistical mechanics framework. This rule maximizes the total reduction in generalization error over the whole learning process. A simple example demonstrates that the locally optimal rule, which maximizes the rate of decrease in generalization error, may perform poorly in compar...

This paper studies the optimal level of discretion in policymaking. We consider a fiscal policy model where the government has time-inconsistent preferences with a present-bias towards public spending. The government chooses a fiscal rule to trade off its desire to commit to not overspend against its desire to have flexibility to react to privately observed shocks to the value of spending. We a...

The method of rule extraction based on differential evolution (DE-Rule) is proposed in this paper. The style of rule is IF-THEN. Connection word is AND in the antecedent of rule. The consequence of rule is class label. The above rule is encoded and expressed to individual in population of differential evolution. Then the population is iterated through differential mutation and binomial crossove...

To deal with severe drought when water supply is insufficient hedging rule, based on hedging rule curve, is proposed. In general, in discrete hedging rules, the rationing factors have changed from a zone to another zone at once. Accordingly, this paper is an attempt to improve the conventional hedging rule to control the changes of rationing factors. In this regard, the simulation model has emp...

In a managed floating exchange rate regime, one of the most important issues is the degree to which the monetary authorities intervene in the foreign exchange market.  The appropriate level of intervention in the foreign exchange market can be discussed in a framework which emphasizes the trade-off between changes in the country’s level of international reserves and minimizes the country’s real...

The most widely used updating rule for non-additive probabilities is the Dempster-Schafer rule. Schmeidler and Gilboa have developed a model of decision making under uncertainty based on non-additive probabilities, and in their paper "Updating Ambiguous Beliefs" they justify the Dempster-Schafer rule based on a maximum likelihood procedure. This note shows in the context of Schmeidler-Gilboa pr...

Our previous study demonstrated the application of the Dempster-Shafer theory of evidence to dose/volume/outcome data analysis. Specifically, it provided Yager's rule to fuse data from different institutions pertaining to radiotherapy pneumonitis versus mean lung dose. The present work is a follow-on study that employs the optimal unified combination rule, which optimizes data similarity among ...

this research follows two aims in case of the iranian economy. first, study of the presence of inflation persistency, and second, looking for an optimal monetary policy rule. results show that inflation in the economy of iran is persistent, in which, short-term and long-term effects of monetary policy should be considered. for this purpose, a loss function for the central bank with arguments of...