. . l 'be&t imd~in i te~ard~en~th (FWL) state-space digital comp&satordesign~r~b lem is investigated. Instead of the usual sensitivity measure, it h argued that it may be desirable to mini&e a frequency weighted sensitivity measure over all similarity bmformations. The set of optimal realizations minimizing this weighted sensitivity b completely chaacterized, and an algorithm is proposed to fin...

Well before the global financial crisis, the stance of fiscal policy in a number of countries had raised concerns about risks for the outcomes of monetary policy. To provide some insights this paper examines the fiscal-monetary interactions in a novel game theory framework with asynchronous timing of moves. It generalizes the standard commitment concept of Stackelberg leadership by making it dy...

Since 2007, many monetary authorities have drastically changed its monetary policy. They began an aggressive struggle with the biggest economic crisis since the Great Depression. Despite the substantial decline in Central banks interest rates in US and EMU and despite the sharp easining of monetary policy in many other countries, the cost of credit to both households and businesses has generall...

The history of monetary policy in Iran, judging by their performance in keeping the value of the currency, maintaining a steady growth in the Gross Domestic Product, faltering investment, show that monetary policy has not been a portrait of consistent successes, to say the least. As a result of the recent studies two rules have emerged as guideline for policy makers: Taylor rule and McCallum ru...

We develop a general equilibrium dynamic stochastic business cycle model augmented with uncertain total factor productivity shocks and investment specific technology shocks. Agents only observe noisy signals of these shocks, such as realized GDP, and update their beliefs each period about the fundamentals of the economy. We interpret this inability to perfectly observe the fundamentals of the e...

The paper investigates the public’s attitude towards monetary union arrangements associated with different levels of monetary policy autonomy. The results indicate that support for monetary union declines significantly with expected loss of autonomy. Survey data from Kenya shows that public support for the proposed East African Community monetary union is highest in an arrangement where the cou...

The infrared spectra of CH 3 CH 2 COONa and its C-labeled modifications (1-C, 2-C, and 3l C) suspended in KBr disks were measured in the region 4000 —200 c m 1 at room temperature and liquid nitrogen temperature. Overlapping complex band contours appeared in some regions of the room temperature spectrum, most notably in the region 1500 —1350 cm" , where 5 fundamentals having contributions from ...

Contagion is usually defined as correlation between markets in excess of what would be implied by economic fundamentals; however, there is considerable disagreement regarding the definitions of the fundamentals, how the fundamentals might differ across countries, and the mechanisms that link the fundamentals to asset returns. Our research takes, as a starting point, a two-factor model with time...