How does informality in emerging economies affect the conduct of monetary and fiscal policy? To answer this question we construct a two-sector, formal-informal new Keynesian closed-economy. The informal sector is more labour intensive, is untaxed, has a classical labour market, faces high credit...

We develop a closed-economy DSGE model of the Indian economy and estimate it by Bayesian Maximum Likelihood methods using Dynare. We build up in stages to a model with a number of features important for emerging economies in general and the Indian economy in particular: a large proportion of...

A New-Keynesian model with deep habits and optimal monetary policy delivers a fiscal multiplier above one and the crowding-in effect on private consumption obtainable in a Real Business Cycle model à la Ravn et al. (2006). Optimized Taylor-type or price-level interest rate rules yield...

Detecting communities from complex networks has recently triggered great interest. Aiming at this problem, a new ant colony optimization strategy building on the Markov random walks theory, which is named as MACO, is proposed in this paper. The framework of ant colony optimization is taken as...

This paper is concerned with the study of a novel design of turbine for tidal currents or fast-flowing streams, called the ‘Hunter Turbine’. The turbine consists of several flapping blades that are hinged on a revolving drum. Flow visualization experiments on a small model were conducted to...

Based on the geological data of the Qinghai-Tibet plateau permafrost, such as the permafrost ground temperature, the thermal gradient within and below the frozen layer, we numerically investigate the gas production potential from hydrates at the DK-3 drilling site of the Qilian Mountain...