Although there are many studies that empirically investigate the impact of Inflation Targeting (IT) on several aspects of the economy, the mechanisms through which IT improves the economic conditions are not studied extensively. A theoretical study is needed to present the dynamics of IT and...

In the wake of the recent crisis many countries face problems caused by budget deficits. To be able to lower their budget deficits these governments should conduct their expenditures at the lowest possible prices. To achieve this objective many countries use auctions to administer government...