Given the recent changes in the policy governing Internet content distribution, such as the institution of per listener royalties for Internet radio broadcasters, content distributors now have an incentive to under-report the size of their audience. Previous audience measurement schemes only protect against inflation of audience size. We present the first protocols for audience measurement that...

Submitted: May 21, 2013; Accepted: Jun 30, 2013; Published: Jul 20, 2013 Abstract: This study examines the impact of IMF programs on the inflation output trade off by using the time series data of Pakistan from the period 1973 to 2010. Results of cointegration approach found the long run relationship among variables. Moreover, results of binary logistic regression model shows that IMF loans do ...

If you ask the average businessperson why inflation has been low during the past decade, he or she is almost certain to reply that it is down to cheap imports from the Far East and Eastern Europe. Monetary policy probably won’t get a look in, yet we know that inflation must ultimately be a monetary phenomenon. The answer, of course, is that globalization represents a shock to relative, not abso...

We develop a dynamic game model of a two-country monetary union to study strategic interactions between macroeconomic policy-makers facing adaptive inflationary expectations. In this union, governments of participating countries pursue national goals when deciding about fiscal policies, whereas the common central bank’s monetary policy aims at union-wide objectives. For a symmetric demand shock...

This paper examines the behaviour of inflation, output, and unemployment in Sub-Saharan Africa (SSA) countries shows that predictions Phillips curve Okun’s law are valid short run. In long run however, coefficient declines greatly turns positive while phenomenon gravitates towards New Keynesian Curve (NKPC) but with a negative relationship. The evidence echoes Friedman’s proposition temporary t...

a r t i c l e i n f o JEL classification: O11 E52 F41 Keywords: Small open emerging market Optimal monetary policy Dualism Inflation targeting Exchange rate An optimizing model of a small open emerging market economy (SOEME) with dualistic labor markets and two types of consumers, delivers a tractable model for monetary policy. Differences between the SOEME and the SOE are derived. Parameters d...

The paper surveys the ‘old’ and ‘new’ political macroeconomics. In the former we consider how governments can be seen to manipulate the economy as to satisfy opportunistic or ideological motives, thereby creating opportunistic or partisan political business cycles. We examine how the macroeconomic revolution of the 1970s cast doubts on the ability of governments to freely and repeatedly create ...

The Polish Government, in 1977, inaugurated a new pension program that made old-age and invalidity benefits available for the first time to most farmers in that country. The evolution and eventual failure of that program were closely intertwined with a growing national economic crisis, manifested in widespread popular unrest and culminating in emergence of the Solidarity movement. The farmers' ...