Monetary policy as a process of search

Article Abstract:

The method used by policy makers to find the most suitable monetary policy is examined in the context of a monetary authority that is reducing interest rates in an attempt to stop a recession without starting inflation. Findings indicate that slight decreases in interest rates are unlikely to initiate a response. Further reductions are then imposed. This creates a vicious circle in which investments are delayed because of the expectation that the policy will not succeed.

Economic aspects, Interest rates, Monetary policy

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Equilibrium in a durable goods market with lumpy adjustment

Article Abstract:

Methodology for establishing durable goods market equilibrium model is detailed. Market under study is constrained with lumpy nature of purchases.

Marketing procedures, Research Findings, Purchasing, Marketing research, Equilibrium (Economics), Durable goods, Market research

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The recursive approach to time inconsistency

Article Abstract:

The feasibility of applying recursive optimization method to decision problems, where preferences are not time consistent, is discussed.

Management dynamics, Decision-making, Decision making, Management, Usage, Consumer preferences, Problem solving, Company business management, Recursion theory, Time perspective

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