This paper investigates the relationship between optimal monetary and tariff policy in open economies. In producer-currency pricing (PCP) case, as in Obstfeld and Rogoff (2002), optimal tariff policy rules are separable from optimal monetary policy rules. Except for PCP case, they are not...

This paper examines optimal monetary policy rules in open economies with vertical production and trade in which we emphasize the role played by reference currency. As evidenced by empirical ï¬ndings, we assume ï¬nal goods prices are sticky, but intermediate goods prices are flexible. We...

This paper investigates the efficiency of monetary and fiscal policy in a two-country general equilibrium model with monopolistic competition and wage stickiness. When monopoly distortions are completely eliminated, we find that stochastic government spending can affect the efficiency of the...

Growth and development has always spurred outpouring of research. This paper offers a very preliminary survey of recent literature in the field.

What is the appropriate inflation target for a currency union, when conducting monetary policy: core inflation or headline inflation? We answer the question in a two-country New Keynesian model with an energy sector. We derive the welfare loss function and find that optimal monetary policy...

Marsh gas is an important type of renewable energies and plays important role to solve the energy issue in remote countryside. This article captures the development of marsh gas in Gongcheng County of China with game theory model. Firstly, the development history of marsh gas in Gongcheng County...

Growth and development has always spurred outpouring of research. This paper offers a very preliminary survey of recent literature in the field.

Research and development (R & D) competition is standard, and it heavily affects patent values. This study captures R&D competition's effects on patent values using game-theory approaches. Cost-reduction patent values increase with technology level and decrease with the competition. Technology...

Henan Province is a major birthplace of the Chinese nation and civilization; it has rich tourism resources, including many internationally famous cultural relics and historical sites. To ensure the sustainable development of humanistic tourism in Henan Province, it is essential to study the...