Publisher's Synopsis
This volume includes eight chapters that detail recent progress in economics research. In Chapter one the authors investigate the role played by the Federal Reserve in the evolution of the inflation rate in the US economy since the financial crisis of 2007-2009 which spurred the Great Recession. The authors also identify the relative importance of monetary policy shocks in driving changes in the inflation rate. Chapter two analyzes upstream firms' collusive sustainability when downstream firms adopt the relative-performance delegation in an infinitely repeated Cournot or Bertrand game. Chapter three examines the challenge of employing AI in real time textual analysis of business cycles. Chapter four investigates the importance and characteristics of health statistics. Chapter five formulates an endogenous growth model in which households do not make optimal consumption choices but instead follow different spending-savings rules. Chapter six uses data on welfare and perceptions to gauge the relation between polarization and popular dissatisfaction in the Middle East and Northern Africa (MENA) region. Chapter seven evaluates consumer protection mechanisms in the context of electronic commerce in Africa. In the last chapter, a critical analysis of the contemporary development of Contractual Economics is made and the specificity of the economic study of agrarian contracts is summarized.
