Minimizing volatility is an important objective stated by regulatory bodies and guvernments in our days. The high volatility of the international capital markets, and the narrowed capacity of handling this volatility, makes countries beneficiary of contagion and so vulnerable to shocks and...

We study the implications of internal consumption habit for new Keynesian dynamic stochastic general equilibrium (NKDSGE) models. Bayesian Monte Carlo methods are employed to evaluate NKDSGE model fit. Simulation experiments show that internal consumption habit often improves the ability of...

The paper deals with the analysis of tsunami risks for Western Canada and the numerical modelling of a potential tsunami which could affect the region and generate significant damage to the western Canadian coastline. Following a review of the seismic risk and historical tsunamis which occurred...

A basic equation, describing the temporal evolution of fields in a chiral medium with Kerr non-linearity is used to study the effects resulting from the combined action of chirality and non-linearity on optical solitons. The spatial chirality effect is characterized through the Born–Fedorov...

Investment in inventories is known to be important for observed changes in GDP. However, inventory investment and the possibility that firms may fail to sell all goods are typically ignored in business cycle models. Using US data, the ability to sell is shown to be strongly procyclical. By...

Changes in the stock of inventories are important for fluctuations in aggregate output. However, the possibility that firms do not sell all produced goods and inventory accumulation are typically ignored in business cycle models. This paper captures this with a goods-market friction. Using US...