In this paper, we consider a model where producers set their prices based on their prediction of the aggregated price level and an exogenous variable, which can be a demand or a cost-push shock. To form their expectations, they use OLS-type econometric learning with bounded memory. We show that...

In this paper, we consider a model where producers set their prices based on their prediction of the aggregated price level and an exogenous variable, which can be a demand or a cost-push shock. To form their expectations, they use OLS-type econometric learning with bounded memory. We show that...

We study monetary optimal policy in a New Keynesian model at the zero bound interest rate where households use cash alongside house equity borrowing to conduct transactions. The amount of borrowing is limited by a collateral constraint. When either the loan to value ratio declines or house...

We study optimal policy in a New Keynesian model at zero bound interest rate where households use cash alongside with house equity borrowing to conduct transactions. The amount of borrowing is limited by a collateral constraint. When either the loan to value ratio declines or house prices fall...

Given the current economic crisis, we find this time of economic analysis to be both timely, and useful in determining which economic “style” is most supportive countries’ development in global capitalism. The goal of this paper is to determine which form of capitalism is most supportive...

This interdisciplinary paper uses world-systems analysis as a theoretical framework to argue that both the 1870s, 1930’s economic depressions reduced mean global temperatures. As global consumer demand fell, factories worldwide began producing less commodities and, as a result, emitted less...

In this historical economic interdisciplinary research we investigate the impact of the 1930s economic crisis and their relationship to global warming. We investigate two consecutive hegemonic powers: the United Kingdom and the United States. Our assumption was that a reduction in demand would...

This paper investigates the relationship between the disparity in tax base and tax collection. I address the tax collection problem with traditional industrial organization approach. Thus, I model the "tax minimization" industry where the supplier helps taxpayers to avoid their tax liability. I...

This article applies a traditional industrial organization framework to the issue of tax compliance. First, we model the "tax advice" industry where the supplier helps taxpayers reduce their tax liability. Then we exploit the fact that more convex demand function results in lower equilibrium...

This paper reviews the economic conditions in central Asia at the time of the Russian financial crisis of August 1998, the channels by which the crisis was transmitted to the central Asian region, and the policy responses. The paper concludes that, although real exchange rates of central Asian...