This note shows that full price indexation is not optimal in the long-run in the New Keynesian model. Moreover, we show … that more price stickiness may increase steady state welfare, if price indexation is partial. …

. The main result is that once a positive degree of indexation is introduced in the model the rule performing better (among …

In this paper I investigate to what extent firm-specific uncertainty affects the gain from indexation. Earlier studies … the gain from indexation considerably (from 0 to 1.5 percent of the wage). It is not evident that the gain from indexation …

-relevant accounting capital and true depreciation, (ii) mis-indexation of depreciation allowances, (iii) incomplete deductibility of …

We analyze the performance of Bayesian model averaged exchange rate forecasts for euro/US dollar, euro/Japanese yen …, euro/Swiss franc and euro/British pound rates using weights based on the out-of-sample predictive likelihood. The paper … predictions of euro exchange rates leads to improvements in predictive accuracy as measured by the mean square forecast error …

EURO's will be more stable than thecurrent demand for national currencies. In policy circles this seeminglymoderating …

setting is used to estimate the intra-day trend in the Euro/U.S. Dollar exchange rate. …