The product lifecycle model can be understood as a three-stage model of technological development associated with a particular product technology. In the explorative stage many different designs are developed, in the development stage products become standardized into a dominant design, and in...

The class of Functional Signal plus Noise (FSN) models is introduced that provides a new, general method for modelling and forecasting time series of economic functions. The underlying, continuous economic function (or "signal") is a natural cubic spline whose dynamic evolution is driven by a...

The product lifecycle model can be understood as a three-stage model of technological development associated with a particular product technology. In the explorative stage many different designs are developed, in the development stage products become standardized into a dominant design, and in...

Greater openness has become an almost universal feature of modern, developed economies. This paper develops a workhorse international model, and explores the role of standard monetary policy rules applied to an open economy. For this purpose, I build a two-country DSGE model with monopolistic...

This paper re-examines the ability of sticky-price models to generate volatile and persistent real exchange rates. We use a DSGE framework with pricing-to-market akin to those in Chari, et al. (2002) and Steinsson (2008) to illustrate the link between real exchange rate dynamics and what the...

While in principle, international payments could be carried out using any currency or set of currencies, in practice, the U.S. dollar is predominant in international trade and financial flows. The dollar acts as a "vehicle currency" in the sense that agents in nondollar economies will generally...

This technical note is developed as a mathematical companion to the paper "The Real Exchange Rate in Sticky Price Models: Does Investment Matter?" (Institute working paper no. 17). It contains three basic calculations. First, we derive the equilibrium conditions of the model. Second, we compute...

This is the final report of the PATH research project "Bottleneck Evaluation Model." The goal of the project was to develop a computer tool for evaluating capacity and travel time benefits of PATH improvements. The Bottleneck Traffic Simulator (BTS) is used to investigate the time benefits of...

This paper develops an economic framework for developing strategies necessary to deploy networks, and applies the framework to the deployment of road pricing. The cost structure of highways are discussed. A graphical method for measuring welfare with road pricing is presented. The relationship...

These problem sets comprise a supplement to Fundamentals of Transportation and Traffic Operations (C. Daganzo, Pergamon, 1997). Academicians can also obtain a companion set of solutions by writing to "Institute of Transportation Studies, Publications Office, 109 McLaughlin Hall, University of...