In spite of elaborate descriptive and correlational studies, the most ubiquitous phenomenon in economics, namely inflation, has remained unexplained in terms of its mathematical origins. Keynes had attempted to relate inflation to a mechanism of "sticky wages and prices". Hitherto, such theories...

The papers in this special issue of Mathematics and Computers in Simulation cover the following topics: improving judgmental adjustment of model-based forecasts, whether forecast updates are progressive, on a constrained mixture vector autoregressive model, whether all estimators are born equal:...

The papers in this special issue of Mathematics and Computers in Simulation cover the following topics. Improving judgmental adjustment of model-based forecasts, whether forecast updates are progressive, on a constrained mixture vector autoregressive model, whether all estimators are born equal....

The papers in this special issue of Mathematics and Computers in Simulation cover the following topics: improving judgmental adjustment of model-based forecasts, whether forecast updates are progressive, on a constrained mixture vector autoregressive model, whether all estimators are born equal:...

The papers in this special issue of Mathematics and Computers in Simulation cover the following topics: improving judgmental adjustment of model-based forecasts, whether forecast updates are progressive, on a constrained mixture vector autoregressive model, whether all estimators are born equal:...

This paper describes a dynamic stochastic general equilibrium (DSGE) model for the Russian economy. It takes into account a high dependence of the national economy on the oil export. The model consists of three production sectors: tradable and non-tradable sectors and oil extraction sector. Oil...

This paper reviews some of the policy considerations behind modern target zone theory, pre-EMU. Topics covered include: domestic output boosting and switching; insulation and transmission of macroeconomic shocks; relationship with other exchange rate regimes; optimal currency areas; quot;rules...

This paper examines the behaviour of foreign exchange reserves, when a government defends an exchange rate target zone using Minimal Marginal Intervention. Reserve depletion defending a single exchange rate barrier is first modelled as the maximum or minimum value of the path of an unregulated...

This paper provides a short introduction to the topic of target zone exchange rate option pricing. Models covered include: Black-Scholes equation with derivation, European Call on a stock option, Garman-Kohlhagen model for an option on a free-floating exchange rate, Dumas Jennergren and Naslund...