six year after the terrorist attacks on the world trade center and pentagon on september 11, 2001 and the onset of us- led war in iraq and afghanistan in line with the bush's policy of regime-change aimed at establishing pro-western governments in baghdad and kabul, we are still witnessing widespread instability and reign of terror in the region. hasty executive branch anti-terrorism polic...

In many economies, commodity price volatility is one of the sources of signaling to market players. Different experiences of price shocks have led economists to reconsider price shocks. Considering the effects of monetary policy on the inflation rate, the present study investigates the impact of monetary policy shock on the price of storable food commodities. In this regard, data for 2006: 01 t...

Using a micro-founded model and a likelihood based inference method, we address three questions in this paper. First, what monetary and scal policy regimes characterized post-war U.S. data? Second, was equilibrium indeterminacy a feature of the economy before Paul Volcker's chairmanship at the Federal Reserve? Third, what were the effects of shifts in monetary and scal policy on the aggregate e...