Sharif Digital Repository

Co-movement between inflation and nominal interest in response to an interest rate shock, dubbed neo-fisherianism, has been the subject of contentious debate since the advent of non-inflationary ZLB environment. We design an economic model rich with banking features to understand the economic responses to permanent and long-term interest rate shocks. We find that responses to a permanent positive interest rate shock depend on the monetary authorities’ speculation of the new long-term inflation rate, with the most probable outcome being a permanent increase in inflation. Responses to a long-term positive interest rate shock depict an increase and then decrease in inflation. We also discover... 

In recent years, the concept of cryptocurrencies and blockchain technology has garnered widespread attention. Blockchain, as the foundational technology of these currencies, has been continuously evolving since its inception, and its applications have extended beyond cryptocurrencies. Blockchain is a distributed and decentralized database among its users, functioning based on their consensus. One of the most widely used consensus mechanisms in blockchain is Proof of Stake (PoS). This mechanism utilizes the stakes of users in the network to validate transactions. One of the most significant threats against this mechanism is long-range attacks. These attacks are similar to 51\% attacks in...