This paper explores the ability of the New-Keynesian (NK) model to explain the recent periods of quiet and stable inflation at near-zero nominal interest rates. We show how (conventional and unconventional) monetary policy shocks enlarge the ability to explain the facts, such that the theory...

This paper explores the ability of the New-Keynesian (NK) model to explain the recent periods of quiet and stable inflation at near-zero nominal interest rates. We show how (conventional and unconventional) monetary policy shocks enlarge the ability to explain the facts, such that the theory...

This paper explores the ability of the New-Keynesian (NK) model to explain the recent periods of quiet and stable inflation at near-zero nominal interest rates. We show how (conventional and unconventional) monetary policy shocks enlarge the ability to explain the facts, such that the theory...

In this paper we exploit the principle of maximum entropy to gain insight into the process underlying the internal dynamics of a stock market. We first introduce a simplified physical model, the ideally liquid stock, to describe market price evolution and derive an operational definition of...

This paper presents a continuous time optimization model for a dynamic pricing and inventory control problem in a dual-channel supply chain system. We consider a manufacturer's redesign of traditional channel structures, based on customer behaviors, by engaging in direct Internet sales. While...

We consider an investor in the foreign exchange market who can trade in two currencies, domestic and foreign. The investor seeks to optimize the expected mark-to-market value of the portfolio while aiming for a certain target proportion of the holdings in foreign currency compared with total...