In recent years, a number of researchers have advocated monetary policy rules for setting the short-term nominal interest rate rules in response to forecasts of inflation, rather than recent outcomes of a limited set of macroeconomic variables such as the well-known Taylor rule. Furthermore,...

This paper shows how a forward-shooting algorithm can be easily implemented using the Matlab programming language. In the paper we develop and implement a forward-shooting numerical algorithm for computing the dynamics of a small representative agent macroeconomic model when subjected to an...

Computing equilibrium in markets with incomplete asset spanning is difficult to do in general. In real markets the amount of uncertainty which occurs between trading periods is relatively small. We use bifurcation methods to derive Taylor series expansions which are asymptotically valid...

This paper studies the steady-state and transitional dynamics predictions of an R&D-based growth model and evaluates their performance in explaining income disparities across countries. We find that even though steady-state conditions do slightly better at predicting schooling enrollment and...

This paper studies a number of characterizations of human capital acquisition in an overlapping generations context. The young of each generation optimize acquiring human capital based on their effort at study and the amount of human capital that their parents (the members of the old generation...

In this paper we analyze how linking a web site to other sites influences the number of visitors to that site. In our model of web user behavior, web users are influenced by web site advertising, the quality of the web site, and their social network. Over time these factors cause a web user to...

In this paper, we present a new estimation method for Gaussian mixture modeling, namely the Kurtosis-controlled EM algorithm, that overcomes the limitations of the usual estimation techniques via kurtosis control and kernel splitting. Our simulation study shows that the dynamic allocation of...

Consider a dynamic game where, at each stage: (a) the player P1 physically acts first, without knowing all the elements of the problem faced by his opponent; (b) the player P2 physically acts second, with full knowledge of P1's problem. Thus, P1 cannot compute exactly the reaction function of...

Purpose: Present study is aimed in interpretation of the results of investment accounts and budget policy on the basis of regional economy functioning model. Next purposes were to show their analytical opportunities by researching the problem of investment differentiation, levels of regional...