In this research, non-linear inflationary dynamics based on the concept of missing money is studied using the threshold autoregressive models based on seasonal data of the time interval (1990:04-2016:07) for the economy of Iran. The finding of the research shows that simple and Divisia liquidity growth variables are determined as threshold variables, and inflation reacts to changes in the growt...

Whether a monetary policy (rule) aiming at stabilizing the economy efficiently should take exchange rate movements into consideration is an issue that recently has drawn a lot of attention. So far, however, no persuasive empirical evidence on the topic has been provided. Using well-established long-run economic equilibrium conditions building on traditional monetary views and by using cointegra...

Abstract We consider assignment problems where individuals are to be assigned at most one indivisible object and monetary transfers not allowed. provide a characterization of rules that Pareto efficient, nonbossy, implementable in obviously strategy‐proof (OSP) mechanisms. As corollaries our result, we obtain OSP‐implementable fixed priority top trading cycles (FPTTC) rules, hierarchical exchan...

This paper describes the theoretical structure and estimation results for a DSGE model Macedonian economy. Having as benchmark of Copaciu et al. (2015), modified to allow fixed exchange rate, we are able match relatively well volatility observed in data. Given monetary policy regime place, debt deflation channel is more important relative financial accelerator one when compared flexible rate ca...

a r t i c l e i n f o This paper introduces a strategy to model a small open economy, whose central bank has established two simultaneous policy objectives: an inflation target, and a maximum limit for nominal exchange rate volatility. In line with the Tinbergen–Aoki condition, the monetary authority establishes two policy instruments, one for accomplishing each target: the monetary policy rate...

the main objective of this paper is to investigate the effects of monetary regime (countries with inflation targeting monetary policy versus countries with exchange rate anchor) on the extent of exchange rate pass-through over the period of 1999-2010. to achieve this objective, the econometric model has been estimated by dynamic panel data approach and arrelano- bond (ab) method. the empirical ...