A novel complementarity between capital and income inequality leads to a significant amplification of the effects aggregate-demand shocks on consumption. We characterize this finding using simple model with heterogeneity in household saving income, nominal rigidities, capital. fiscal policy that redistributes causes further amplification, whereas redistributing profits generates dampening. Afte...

abstract: central banks have long been interested in obtaining precise estimations of money demand given the fact that the evolution of money demand plays a key role over several monetary variables. one implication of currency substitution is that the exchange rate could serve as another determinant of the demand for money. due to the recent currency crisis in iran, it would be important to inv...

This paper reviews the usefulness of monetary conditions in the euro area as leading indicators for aggregate demand conditions. Monetary conditions are measured with the MCI concept proposed by the Bank of Canada, and with the yield spread. A central result is that causality runs in both ways between monetary and aggregate demand conditions. The endogeneity of monetary conditions raises import...

In this paper I estimate a SVAR model to study the transmission of UK shocks to the Irish economy over the period 1922-1979, using annual time series for CPI inflation and output growth. UK aggregate demand and supply shocks have large and significant impacts on Irish inflation, but smaller impacts on Irish real GDP growth. A historical decomposition indicates that UK aggregate demand shocks pl...

Aggregate production planning (APP) determines the optimal production plan for the medium term planning horizon. The purpose of the APP is effective utilization of existing capacities through facing the fluctuations in demand. Recently, fuzzy approaches have been applied for APP focusing on vague nature of cost parameters. Considering the importance of coping with customer demand in different p...

this paper employs a multivariate dynamic conditional correlation garch model, which is developed by engle (2001, 2002), to detect the timing and nature of changes in the comovement between iranian output and prices for the periods after iran–iraq war , known as imposed war . the results showed that there is a weak correlation between output and prices after imposed war and  varies periodically...