Das System der Volkswirtschaftlichen Gesamtrechnungen (VGR) in Deutschland wurde im Frühjahr 2005 von der Festpreisbasis auf das Vorjahrespreiskonzept (Kettenindexkonzept) umgestellt. Dadurch werden Substitutionseffekte besser berücksichtigt und die periodische Umbasierung der Zeitreihen...

This paper reviews various approaches to the measurement of core inflation that have been proposed in recent years. The objective is to determine whether the ECB should pay special attention to one or other of these measures in assessing inflation developments in the euro area. I put particular...

This paper proposes a predictive maintenance policy using modified failure mode effect and criticality analysis (Mod-FMECA) technique. FMECA is used to identify failure modes, reasons, effects and criticality of the system (machine/plant) but in Mod-FMECA in addition to the analysis carried for...

This paper presents a novel approach to analyze human decision-making that involves comparing the behavior of professional chess players relative to a computational benchmark of cognitively bounded rationality. This benchmark is constructed using algorithms of modern chess engines and allows...

We develop a stylized two-sided model of the local broadband Internet market where prices are used to facilitate “interactions” between the Broadband Internet Service Provider’s (BISP) subscribers and Content and Application Service Providers (CASPS), as well as the priority (i.e., speed)...

We compare the economic efficiency of imposing a “zero price rule” on Broadband Internet Service Providers (BISPs) with the economic efficiency associated with allowing the BISP to charge Content and Application Service Providers (CASPs) a non-discriminatory uniform price for...

Parrondo’s paradox was introduced by Juan Parrondo in 1996. In game theory, this paradox is described as: A combination of losing strategies becomes a winning strategy. At first glance, this paradox is quite surprising, but we can easily explain it by using simulations and mathematical...

Since household consumption depends among others on income, it will be of interest to examine the change of household consumption structure due to income changes. This will be useful to supply chain management as well as policy makers. Our sample refers to Western Europe, USA and Japan during...

We study the design of optimal monetary policy (Ramsey policies) in a model with sticky prices and unionized labour markets. Collective wage bargaining and unions monopoly power tend to dampen wage fluctuations and to amplify employment fluctuations relatively to a DNK model with walrasian...

Most studies of optimal monetary policy under learning rely on optimality conditions derived for the case when agents have rational expectations. In this paper, we derive optimal monetary policy in an economy where the Central Bank knows, and makes active use of, the learning algorithm agents...