We examine the impact of different degrees of fiscal feedback on debt in an economy with nominal rigidities where monetary policy is optimal. We look at the extent to which different degrees of fiscal feedback enhances or detracts from the ability of the monetary authorities to stabilise output and inflation. Using an objective function derived from utility, we find the optimal level of fiscal ...

Recent research reported that task-irrelevant colors captured attention if these colors previously served as search targets and received high monetary reward. Here we showed that both monetary reward and value-independent mechanisms influenced selective attention. Participants searched for two potential target colors among distractor colors in the training phase. Subsequently they searched for ...

The aim of this study is to examine the nonlinear effects of fiscal and monetary policies on inflation during 1990:3 to 2013:1 based on threshold model. First lag of the liquidity growth is recognized as threshold variable with threshold value estimated at 6.37 percent. In low liquidity growth, the results indicate that inflation expectations and the lagged liquidity growth are the most importa...

Contrary to the claims that Hayek’s views on monetary policy were inconsistent, we show that Hayek was never an advocate of any particular monetary policy. In particular, we reject the view that early Hayek was a money stream stabilizer, while late Hayek was a price level stabilizer. We argue that Hayek was always aware that each practical monetary policy involves difficult trade-offs and was t...

implementation of monetary policies and adjustments in liquidity are the most important tools of the central bank of iran used in structural reforms in the banking industry. this policy influences the efficiency of the monetary policy through its impact on bank credit channels. in this study we used dynamic stochastic general equilibrium models as one of the most innovative approaches to moneta...