Since the late 1990s CRM has become a buzzword especially among business practitioners and consultants. Companies have invested or are planning to invest huge amounts to implement CRM strategies, tools and infrastructure in order to win the battle in today’s increasingly competitive economy. However, many executives are struggling with trying to determine how their enterprises will balance the ...

This paper investigates the long-run neutrality of money using quarterly data of South Korea and Taiwan and the methodology of King and Watson (1997); particular attention is given to the integration and cointegration properties of the variables. Empirical evidence provides considerable support for the long-run neutrality of money with respect to real output in the case of South Korea, indicati...

This paper analyzes the transmission mechanisms of a contractionary monetary policy shock on the real economy. The sufficiently long regime uniform time period since the political transformation in the Czech Republic provides evidence for effective inflation targeting by the Czech National Bank. I apply a recursive vector autoregression (VAR), a structural VAR, and structural vector error corre...

The Chinese economy underwent cyclical fluctuations in growth and inflation in the reform period. Contrasting views exist on the role of money in such fluctuations. This paper assesses these views employing structural VEC models based on the exchange equation. It is found that in the long run money accommodates, rather than causes, changes in output and prices. In the short run, price fluctuati...

Abstract This paper characterizes the relationship between monetary aggregates, inflation and economic activity in Switzerland since mid-1970s. Traditional forms of money demand quantity theory relationships have remained stable over whole period. Broad excesses trend values, accounting for a secular decline interest rates thus velocity, been followed by persistently higher output with usual po...

this paper studies the usefulness of the p-model in the analysis of the behaviour of prices in iranian economy. the p-model is based on the quantity of theory of money. this model believes that the price level tends to move towards the equilibrium price level. the model uses price gap to forecast inflation, if the equilibrium price is greater than the current price, there is a tendency for the ...

The emerging consensus in monetary policy and business cycle analysis is that money aggregates are not useful as an intermediate target for monetary policy or as an information variable. The uselessness of money as an intermediate target is driven, at least in part, by empirical research that suggests that money demand is unstable. In addition, the informational quality of money has been called...