Given the increasing importance of achieving low and stable inflation rate during the last decades, adopting the most suitable practices to implement monetary policies has always been of concern by monetary authorities of different countries. Inflation targeting (IT) regime is the most recent strategy to guide monetary policies that have been introduced following the occurrence of exchange rate...

the purpose of this paper is to examine the effects of monetary, fiscal and oil revenue shocks on macroeconomic variables in the framework of rule and discretionary monetary policy. to end this, we use a new keynesian dynamic stochastic general equilibrium (dsge) model. given the dominant role of oil in the country, we consider the role of oil shock in the model through different channels. the ...

We introduce intermediation frictions into the classical monetary model with fully flexible prices. Trade in financial assets happens through intermediaries who bargain over a full set of state-contingent claims with their customers. Monetary policy is redistributive and affects intermediaries’ ability to extract rents; this opens up a new channel for transmission of monetary shocks into rates ...

This paper employs regional deposit data to document the process of monetary convergence following German reunification. A simple model for the velocity of deposits shows that long-run co-integration relationships between velocity and interest rates can be found in the western states, suggesting that the East-German monetary shock has not destabilized monetary relationships within West-Germany....

Private transfers between households in developing countries have been extensively studied and shown to be economically important for these households. We argue that migration and remittances have the potential to modify the prevalent transfer behaviour in migrant-sending communities. A priori, it is indeterminate whether migration and remittances strengthen or weaken the degree of private tran...

The paper evaluates the distributional effects of conventional and unconventional monetary policies for the USA. The distributional effects are evaluated for the overall impact on the income distribution, using Gini index. The paper also assesses the effects of conventional and unconventional monetary policies on the different parts of income distribution, employing corresponding percentile rat...

Time-domain equalizers (TEQ) are used in the discrete multitone (DMT) transceivers in order to reduce the duration of the overall response of the transmission system, so that a shorter-length cyclic prefix could be used. The optimum TEQ is the one that results in maximum bit allocation to each block of DMT. However, the optimum design of TEQs turns out to be a very difficult task. In this paper...

High peak-to-average power ratio is a major problem that is inherent in all multicarrier communication systems. Clipping the high-peak power samples introduces (extra) clipping noise, which degrades the system performance in terms of bit-error rate (BER). Measuring BER usually requires a very long simulation time, as clipping occurs very rarely. In this letter, we propose a method called clippi...