This paper examines the effectiveness of monetary policy in Kenya based on policy simulations from a structural macroeconometric model. The analysis is conducted using the policy rate, i.e. the central bank rate (CBR) and the cash reserve ratio (CRR) with respect to the interest rate and bank...

This paper attempts to establish the quantitative importance of the various channels of monetary transmission by constructing, estimating and simulating a small macroeconometric model of Pakistan's monetary sector, while using data from the monetary statistics and the monetary survey of the...

In this paper, we employ a method to examine the factors affecting quality choice by Greek households, using cross-sectional survey data. We illustrate the method using the raw data of the 2004/05 Household Budget Survey for meat and fish products. Quality elasticities of total food expenditure...

This paper is the first one to analyse the effect of aggregate government spending and taxes on output for South Africa using three types of a calibrated DSGE model and more data driven models such as a structural vector error correction model (SVECM) and a time-varying parameter VAR (TVP-VAR)...

In this paper, firms are considered on the hypothesis of having incomplete rationality expectation and incomplete information of the market to get the dynamic development of price competition behavior in the Hotelling model (Hotelling, 1929). Under the assumption of the heterogeneous...

Recently, stochastic applications of large-scale applied simulation models of agricultural markets have become more frequent. However, stochastic modeling with large market models comes with high computational and management costs for data storage, analysis and manipulation. Gaussian Quadratures...

The 2nd pillar of the Polish pension system was recently modified. The government lowered the amount for obligatory contributions transferred to private open pension funds and redirected the difference to notional accounts. A Monte Carlo simulation model was developed to compare two variants of...

A significantly positive risk–return relation for the S&P 100 market index is detected if the implied volatility index (VIX) is allowed for as an exogenous variable in the conditional variance equation. This result holds for 4 alternative GARCH specifications, irrespective of the conditional...