In some statistical process control applications, the combination of both variable and attribute quality characteristics which are correlated represents the quality of the product or the process. In such processes, identification the time of manifesting the out-of-control states can help the...

In this paper, the authors explore a dynamical version of the Aoki and Yoshikawa model (AYM) for an economy driven by demand. They show that when an appropriate Markovian dynamics is taken into account, the AYM has different equilibrium distributions depending on the form of transition...

A large market economy has a huge number of degrees of freedom with weak microlevel coordination. The 'implicit microfoundations' approach considers this property of micro-level interactions to more strongly determine macro-level outcomes compared to the precise details of individual choice...

This study investigates the macroeconomic responses of Nigerian economy to external shock between 1986 and 2014. Specifically, we examine the effect of oil price shocks and macroeconomic shocks from developed trading partners on Nigerian macroeconomic performances in order to establish pattern...

The objective of this paper is to examine the long-run and the short-run relationship between India, China and Japanese stock markets and key macroeco- nomic variables such as exchange rates and inflation (proxied by consumer price index) of ASIAN 3 economies (India, China and Japan). Monthly...

Two systems in the brain that are involved in emotional and economic decision-making are described. The first is an evolutionarily old emotion-based system that operates on rewards defined by the genes such as food, warmth, social reputation, and having children. Such decisions are often based...

In this paper, we present an application of the dynamic tracking games framework to a monetary union. We use a small stylized nonlinear three-country macroeconomic model of a monetary union to analyze the interactions between fiscal (governments) and monetary (common central bank) policy makers,...

This study seeks to examine the effects of trade diversification on macroeconomic performance in Nigeria. To achieve this, the study employs bound test of ARDL to determine the existence of cointegration between trade diversification and key macroeconomic variables. We further estimate the...

Poverty is a universal reality, and no one can deny the omnipresence of it all over the world. It is considered as the most harmful economic and social problem of human beings since their creation. It affects individuals as well as society as a whole in a very destructive way, and it is...