Typically, the mechanical feedback that a user obtains during a gesture is simply the mechanical weight and friction of the specific input device being employed. This is very different from everyday experience. Here mechanical feedback to the hand and arm results from the manual manipulation of tools and other objects. This paper reports preliminary research to provide tactile feedback within g...

The paper investigates the relationship between inflation and inflation uncertainty using the Iranian data over the period 1959:03 – 2008:02. GARCH models are used to examine this relationship. Granger methods are employed to provide statistical evidence for the relationship between average inflation and inflation uncertainty. Threshold GARCH (TGARCH) models are considered to investigate asymme...

This paper examines the welfare implications of managing asset-price with consumer-price inflation targeting by monetary authorities who have to learn the laws of motion for both inflation rates. The central bank can reduce the volatility of consumption as well as improve welfare more effectively if it adopts state-contingent Taylor rules aimed at inflation and Qgrowth targets in this learning ...

This paper replicates Sims (2011) “stepping on a rake” model. It derives the model, shows how to solve it, offers some extensions, and boils the paper down to its central ingredient. Sims’ article is important: it is a simple modern economic model that produces a temporary decline in inflation when the central bank persistently raises interest rates. Inflation then rises. The model’s essential ...

Central banks like the Bank of England or the Bundesbank have highlighted recently that the supply of currency is achieved not by means of printing and spending but by means of credit. This clarification raises further issues. This article addresses the issue of seigniorage and optimal inflation. So far approaches to seigniorage and optimal inflation are still based on the assumption of a curre...