a central problem ill empirical macroeconomics is to determine when and how much the exchange rate is misaligned. this paper clarifies and calculates the concept of’ the equilibrium real exchange rate, using a structural vector auto regression (var) model. by imposing long—run restrictions on a var model for iran, lour structural shocks are identified: nominal demand, real demand, supply and oi...

Evidence has been mounting (over the centuries) that the interest based debt financing regime is under ever increasing distress. All of the earlier crises whatever label they carried− exchange rate crisis or banking crisis – have been debt crises in essence. At the present, empirical research suggests that the debt-to-GDP ratio of the richest members of the G-20 threatens to touch 120% m...

This paper examines the role of collateralized money supply for short-run macroeconomic effects of monetary policy. We apply a simple sticky price model, where the central bank supplies money in exchange for securities that are discounted with the nominal interest rate. The central assumption is that only government bonds are eligible as collateral. If they are dominated in rate of return by pr...

The paper discusses a way in which price uncertainty may affect the extent of idiosyncratic, uninsurable risks in an incomplete markets economy with nominal assets and thereby affect output and welfare. Although the returns on these assets are constant and riskfree in nominal terms, price uncertainty causes their real returns to be stochastic. This affects the ability of households to diversify...

Objective(s):Iron oxide nanoparticles have found prevalent applications in various fields including drug delivery, cell separation and as contrast agents. Super paramagnetic iron oxide (SPIO) nanoparticles allow researchers and clinicians to enhance the tissue contrast of an area of interest by increasing the relaxation rate of water. In this study, we evaluate the dependency of hydrodynamic si...