Taylor and McCallum Rule during the Unprecedented Monetary Easing Era: The Recent Japanese Case

The Taylor and McCallum rules have been examined a lot in many studies. After these frameworks were presented, deflation has been prevailing and market interest rates have been low, almost zero, or negative in the world. Japan is a typical example. Unconventional monetary policy based on monetary base instead of based on interest rates, has been conducting. This study examines whether or not the Taylor and McCallum rule fit well in Japan. The empirical results show that the McCallum rule fits for recent Japanese cases, but the Taylor rule does not

Impact of the Prevailing Internet on International Trade in Asia

This article provides empirical evidence for the relationship (1) between the prevailing Internet and international trade and (2) between the prevailing Internet and economic growth in Asian countries. The empirical results show that Internet promotes international trade both in developed countries and developing Asian countries; however, the effect is larger in Asian countries. The Internet can increase economic international trade; on the other hand, it has not necessarily been linked to economic growth. If countries seek to enhance international trade and economic growth, they need to implement specific policies that facilitate investment in information and communications technologies (ICT) to encourage efficient and effective economic growth. A digital revolution can form the foundation of a sustainable global economy. It is important to respond to this opportunity

AR Model or Machine Learning for Forecasting GDP and Consumer Price for G7 Countries

This paper examines the validity of forecasting economic variables by using machine learning. AI (artificial intelligence) has been improved and entering our society rapidly, and the economic forecast is no exception. In the real business world, AI has been used for economic forecasts, but not so many studies focus on machine learning. Machine learning is focused in this paper and a traditional statistical model, the autoregressive (AR) model is also used for comparison. A comparison of using an AR model and machine learning (LSTM) to forecast GDP and consumer price is conducted using recent cases from G7 countries. The empirical results show that the traditional forecasting AR model is a little more appropriate than the machine learning model, however, there is little difference to forecast consumer price between them

Nonlinear behavior and mode coupling in spin transfer nano-oscillators

By investigating thoroughly the tunable behavior of coupled modes, we highlight how it provides new means to handle the properties of spin transfer nano-oscillators. We first demonstrate that the main features of the microwave signal associated with coupled vortex dynamics i.e. frequency, spectral coherence, critical current, mode localization, depends drastically on the relative vortex core polarities. Secondly we report a large reduction of the nonlinear linewidth broadening obtained by changing the effective damping through the control of the core configuration. Such a level of control on the nonlinear behavior reinforces our choice to exploit the microwave properties of collective modes for applications of spintronic devices in novel generation of integrated telecommunication devices