This paper examines monetary and fiscal policy through the estimation of a New-Keynesian dynamic general equilibrium model for Iran’s economy. In this New-Keynesian dynamic general equilibrium model, the consumers encounter the liquidity constraint and the firms face sticky prices, while they are changing them. In the model presented, a role is considered for both government spending and taxati...

We study the term structure of interest rates in the presence of consumption commitments using an equilibrium model. Under reasonable assumptions we prove the existence and uniqueness of the equilibrium and develop computation methods. Examples are analyzed to illustrate the effect of consumption commitments on the term structure and its manifestations.

This paper examines the standard test for asymmetric information in insurance markets: that its presence will result in a positive correlation between insurance coverage and risk occurrence. We show empirically that while there is no evidence of this positive correlation in the long-term care insurance market, asymmetric information still exists. We use individuals’ subjective assessments of th...

Artificial neural networks (ANNs) are processors that are trained to perform particular tasks. We couple a computational ANN with a simulated affective system in order to explore the interaction between the two. In particular, we design a simple affective system that adjusts the threshold values in the neurons of our ANN. The aim of this paper is to demonstrate that this simple affective system...

introduction: agriculture as one of old sectors of economy has been important role in the supply food for peoples and raw materials. globalization causes rapid growth of world trade and reduces information and communications costs. globalization and rapid growth of trade increases the potential benefits of trade for agriculture from various aspects. the potential benefits of trade for agricultu...

This paper studies optimal long-term capacity strategies when there exist markets for capacity options. The essential ingredients of the problem derive from the strategic interaction of contract markets with spot markets. This interaction provides the foundation for the short-term pricing and contracting strategies for market participants. Sellers in this market can sign long-term (e.g., forwar...

Cartilage material properties provide important insights into joint health, and cartilage material models are used in whole-joint finite element models. Although the biphasic model representing experimental creep indentation tests is commonly used to characterize cartilage, cartilage short-term response to loading is generally not characterized using the biphasic model. The purpose of this stud...

in this paper, the deformation of a thick-walled circular cylindrical shell of incompressible isotropic elastic material is considered. the shell, which is made of three-term strain energy function is subjected to the combined external and axial loading pressure. in order to obtain the relevant eigenvalues, which is the main objective of the work, the incremental equilibrium equations are so...

We study the approach to equilibrium of a Bose gas to a superfluid state. We point out that dynamic scaling, characteristic of far from equilibrium phaseordering systems, should hold. We stress the importance of a non-dissipative Josephson precession term in driving the system to a new universality class. A model of coarsening in dimension d = 2, involving a quench between two temperatures belo...