The Neo-Fisherianism to Escape Zero Lower Bound

Sufficiently persistent rise in nominal interest increases inflation rate in short-run. This short-run comovement of nominal interest rate and inflation rate is known as Neo-Fisherianism. This paper proposes a policy based on Neo-Fisherianism to escape Zero Lower Bound (ZLB) using a textbook forward looking New Keynesian model. I have shown that proposed policy with properly chosen inflation target and persistence can stimulate economy and escape ZLB by raising nominal interest rate. I have also shown that the proposed policy is robust to varying degrees of price stickiness

The Neo-Fisherianism to Escape Zero Lower Bound

Sufficiently persistent rise in nominal interest increases inflation rate in short-run. This short-run comovement of nominal interest rate and inflation rate is known as Neo-Fisherianism. This paper proposes a policy based on Neo-Fisherianism to escape Zero Lower Bound (ZLB) using a textbook forward looking New Keynesian model. I have shown that proposed policy with properly chosen inflation target and persistence can stimulate economy and escape ZLB by raising nominal interest rate. I have also shown that the proposed policy is robust to varying degrees of price stickiness

On the tens digit of a prime power

In this note, we prove that the tens digit of any power of an infinite number of prime numbers is even. This is a generalization of a problem that appeared in the Regional Mathematics Olympiad in 1993

Two-photon double ionization with finite pulses: Application of the virtual sequential model to helium

As a step toward the full \emph{ab-initio} description of two-photon double ionization processes, we present a finite-pulse version of the virtual-sequential model for polyelectronic atoms. The model relies on the \emph{ab initio} description of the single ionization scattering states of both the neutral and ionized target system. As a proof of principle and a benchmark, the model is applied to the helium atom using the {\tt NewStock} atomic photoionization code. The results of angularly integrated observables, which are in excellent agreement with existing TDSE (time-dependent Schr\"odinger equation) simulations, show how the model is able to capture the role of electron correlation in the non-sequential regime, and the influence of autoionizing states in the sequential regime, at a comparatively modest computational cost. The model also reproduces the two-particle interference with ultrashort pulses, which is within reach of current experimental technologies. Furthermore, the model shows the modulation of the joint energy distribution in the vicinity of autoionizing states, which can be probed with extreme-ultraviolet pulses of duration much longer than the characteristic lifetime of the resonance. The formalism discussed here applies also to polyelectronic atoms and molecules, thus opening a window on non-sequential and sequential double ionization in these more complex systems.Comment: 10 figure

An Algorithm for Solving Simple Sticky Information New Keynesian DSGE Model

This paper describes a new algorithm for solving a simple Sticky Information New Keynesian model using the methodology of Wang and Wen (2006). Impulse responses for demand and supply shock have been generated and analyzed intuitively. The strength of our algorithm lies in its analytical solution, which allow to uncover better intuition from the model

Cost Channel, Interest Rate Pass-Through and Optimal Policy under Zero Lower Bound

This paper analyzes optimal monetary policy under zero lower bound in the presence of cost channel. Cost channel introduces trade-off between output and inflation when economy is out of ZLB. As a result, exit time both under discretion and commitment is endogenous in the presence of cost channel. We also find that commitment outperforms discretion by promising future boom and inflation and a T-only policy closely replicates commitment both under presence and absence of cost channel. Moreover, the exit date (from ZLB) under discretion, commitment and T-only policy rises with the magnitude of demand shock given the degree of interest rate pass-through irrespective if the cost channel is present. We also show that, while exit date both under discretion and T-only policy rises with the degree of interest rate pass-through/credit market imperfection, it falls under commitment given demand shock

A study of surgically managed ruptured ectopic pregnancies in a rural medical college hospital over a period of 5 years

Background: Although ectopic pregnancy is of interest to the embryologist, general practitioner, obstetrician, and abdominal surgeon for various reasons, our present study was undertaken to determine the incidence, epidemiological characteristics, clinical features, risk factors, diagnosis, management and operative findings of ectopic pregnancies at our hospital.Methods: This is a retrospective study of ectopic pregnancies that were managed operatively at Bankura Sammilani Medical College and Hospital from April 2013 to April 2018. Unruptured tubal ectopic pregnancy that were managed medically are excluded in this study.Results: The incidence of ectopic pregnancy was 0.59%, and the peak age of incidence was 20-25 years (33.84%) with third gravidas (46.3%) being most commonly affected. The most common symptoms were amenorrhea (96.92%), abdominal pain (90.76%), and vaginal bleeding (11.53%) and the most common signs were pallor (46.30%), shock (38.46%), and cervical motion tenderness (33.84%). Most common risk factors were past history of tubectomy (66.61%). The commonest site for tubal ectopic pregnancy was ampullary in 545 cases (84.89%). Salpingectomy done in 553 cases (85.07%) was the most commonly performed operation for ruptured tubal ectopic pregnancy.Conclusions: In the surgical management of ectopic pregnancy, the benefits of salpingectomy over salpingostomy are uncertain. The early diagnosis of an ectopic pregnancy reduces the presentation to response time, which is crucial in determining the morbidity, mortality and long-term effects for the patient. Although with earlier diagnosis, medical therapy with methotrexate can be offered and surgery avoided in some women, the best regimen remains unclear. There have been advances made in the management of ectopic pregnancy but there are still questions to be answered

Taylor-Rule Exit Policies for the Zero Lower Bound

The monetary authority loses the ability to implement the Taylor Rule at the zero lower bound. However, the promise to implement a Taylor Rule upon exit remains an effective policy instrument. We present two Taylor-Rule exit policies, each with different commitment requirements, as alternatives to a truncated Taylor Rule. A Taylor Rule with an optimally-chosen exit date and time varying inflation target delivers fully optimal policy, but requires a negative inflation target, possibly threatening the ability to commit. A Taylor Rule with only an optimally-chosen exit date delivers almost all the gains of fully optimal policy with no need to commit to the negative inflation target

The Inflation Target at the Zero Lower Bound

We propose that the monetary authority adopt the inflation target as a time varying policy instrument at the zero lower bound (ZLB) with the same zeal with which they have adopted a fixed inflation target away from the ZLB. Specifically, after an extreme adverse shock reduces demand, the monetary authority promises future inflation by raising the inflation target in the Taylor Rule and announcing its persistence over time. The loss under our proposed policy is very similar to that under optimal monetary policy with the advantage that it is cummuicable using the language of the inflation target and implementable using the Taylor Rule. We also show that the inflation target and its persistence could be raised high enough to keep the economy away from the ZLB, but welfare costs are large