The system considered is a cinema ticketing booth system. A general simulation algorithm is presented as well as the system’s operating characteristics. The results of the experiment were verified by comparing them with video observation data and theoretical values. Finally, with comparative...

One of today’s realities is that, as a consequence of the consolidation of the European economic integration process, the economies of the different member countries of the European Union are becoming more inter‐dependent and the physical, technical and tax obstacles to cross‐border trade...

We integrate banks and the coexistence of bank and bond financing into an otherwise standard New Keynesian framework. There are two policy-makers: a central banker, who can decide on short-term nominal interest rates, and a macroprudential policy-maker, who can vary aggregate capital...

Purpose: This paper aims to examine the effect of China’s unique household registration system (hukou) on stock market participation. Design/methodology/approach: In an effort to estimate the effect of hukou on households' financial behavior, we draw on data from China Family Panel Studies...

We examine “Forward Guidance Contracts”, which make central bankers’ utility contingent on the precision of interest-rate forecasts for some time. Such Forward Guidance Contracts are a exible commitment device and can improve economic performance when the economy is stuck in a liquidity...

We integrate banks and the coexistence of bank and bond financing into an otherwise standard New Keynesian Framework with capital, and derive the microfounded, bank-augmented IS and Phillips Curves for the corresponding two-sector economy. We study the interplay of monetary and macroprudential...