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This paper focuses on simple normative rules for monetary policy that central banks can use to guide their interest rate decisions. Such rules were first derived from research on empirical monetary ...
Comprehensive yet Simple: Florida’s Tapestry of School Choice Programs.
I consider a simple political economy model of international conict in which the value of conquest depends on the tax policy that would be implemented in conquered territory by the median voter in a ...
Capital Cash Flows: A Simple Approach to Valuing Risky Cash Flows.
In this study, we develop a simple dimension model to construct the food system in response to the population growth, the land use change and various socio-economic developments. The model simulates t...
Most countries exhibit large and persistent geographical differences in wages, income and unemployment rates. A growing class of "place based" policies attempt to address these differences through pub...
We analyze optimal pension systems relying on simple policy instruments. The optimality in this context means the highest welfare that can be achieved with a restricted set of tax instruments. While t...
The article offers some precautionary measures to minimize the risk of financial fraud online. According to the author, the key to address the risk of online fraud is to regularly enhance the procedur...
This paper studies the theoretical and empirical implications of monetary policy making by committee under four different voting protocols. The protocols are a consensus model, where a supermajority i...
It is well known that the standard Lagrange multiplier (LM) test loses its local optimality when the true non-null model is not correctly specified. In this paper, we derive a score test robust to loc...
We develop a simple test for deviations from power law tails, which is based on the asymptotic properties of the empirical distribution function. We use this test to answer the question whether great ...
We consider a simple stochastic differential equation for modeling bubbles in social context. A prime example is bubbles in asset pricing, but similar mechanisms may control a range of social phenome...
The model is aimed to discriminate the 'good' and the 'bad' companies in Russian corporate sector based on their financial statements data based on Russian Accounting Standards. The data sample consi...
We propose a simple stochastic model for time series which is analytically tractable, easy to simulate and which captures some relevant stylized facts of financial indexes, including scaling properti...
Many models of market dynamics make use of the idea of wealth exchanges among economic agents. A simple analogy compares the wealth in a society with the energy in a physical system, and the trade be...

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