In this paper, we embed the Taylor interest rate rule in a simple macroeconomic model with Calvo contracts. We contrast this with the case in which the interest rate is determined by the conventional LM curve along with a fixed value for the monetary aggregate. We derive conditions under which...

This paper presents a model of the gold standard in which technology and preferences are modelled explicitly, and account is taken of both the durability of gold and the exhaustibility of gold ore. We examine the steady state and its associated dynamics, and show how the steady-state price level...

Models Canada's Pacific halibut fishery as a non-zero-sun non-co-operative differential game. Optimal harvesting level are derived under the criterion of profit maximization. Show that optimal aggregate steady-state fishing effort and yield increase with the number of fishermen harvesting the...

The Kuwait stock exchange index is examined for evidence of a day-of-the-week effect. A nonlinear GARCH(1,1) model provides a good explanation of the data and allows identification and modelling of the day-of-the-week effect.