Abstract. This paper discusses solving the forward problem for electrical resistance tomography (ERT). The mathematical model is governed by Laplace's equation with the most general boundary conditions forming the so-called completeelectrode model (CEM). We examine this problem in simply-connected and multiply -connected domains (rigid inclusion, cavity and composite bi-material). This direct problem is solved numerically using the boundary element method (BEM) and the method of fundamental solutions (MFS). The resulting BEM and MFS solutions are compared in terms of accuracy, convergence and stability. Anticipating the findings, we report that the BEM provides a convergent and stable solution, whilst the MFS places some restrictions on the number and location of the source points.

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The Federal Reserve has played an arguably important role in financial crises in the United States since its creation in 1913 through monetary policy tools. Thus, this paper aims to analyze the impact of monetary policy on the United States’ economic growth in the short and long run, measured by Gross Domestic Product (GDP). The Vector Autoregressive (VAR) method explores the relationship among the variables, and the Granger causality test assesses the predictability of the variables. Moreover, the Impulse Response Function (IRF) examines the behavior of one variable after a change in another, utilizing the time-series dataset from the first quarter of 1959 to the second quarter of 2022. This work demonstrates that expansionary monetary policy does have a positive impact on economic growth in the short term though it does not last long. However, in the long term, inflation, measured by the Consumer Price Index (CPI), is affected by expansionary monetary policy. Therefore, if the Federal Reserve wants to cease the expansionary monetary policy in the short run, this should be done appropriately, with the fiscal surplus, to preserve its credibility and trust in the US dollar as a global store of value asset. Also, the paper’s findings suggest that continuous expansion of the Money Supply will lead to a long-term inflationary problem. The purpose of this research is to bring the spotlight to the side effects of expansionary monetary policy on the US economy, but also allow other researchers to test this model in different economies with different dynamics.