We document the presence of sizable distributional e¤ects from unexpected price level movements in the Euro Area (EA) using sectoral accounts and newly available data from the Household Finance and Consumption Survey. The EA as a whole is a net winner of unexpected price level increases, with Italy, Greece, Portugal and Spain being the biggest bene…ciaries, and Belgium and Malta being the large...

In recent months, fi nancial markets have become more anxious about several key developments in Europe. First, there are increased worries that political change in Greece could lead it to renegotiate the terms of its bailout agreement, and in a worst case scenario, exit the euro area. The latter outcome could revive the eurozone fi nancial crisis, as markets would bet on who is next. Second, th...

A COMBINED APPROACH OF CLUSTERING AND SUPPORT VECTOR CLASSIFIERS LOUIS VUURPIJL AND LAMBERT SCHOMAKER vuurpijl ni i.kun.nl,s homaker ni i.kun.nl, http://hwr.ni i.kun.nl This paper des ribes a two-stage lassi ation method for (1) lassi ation of isolated hara ters and (2) veri ation of the lassi ation result. Chara ter prototypes are generated using hierar hi al lustering. For those prototypes kn...

Views stated in Policy Discussion Papers are those of the authors and not necessarily those of the Federal Reserve Bank of Cleveland or of the Board of Governors of the Federal Reserve System. Materials may be reprinted, provided that the source is credited. Please send copies of reprinted materials to the editor. thank Patrick Higgins for his research assistance and Monica Crabtree-Reusser for...

We present a detailed investigation of chaotic in ation models which feature two scalar elds, such that one eld (the in aton) rolls while the other is trapped in a false vacuum state. The false vacuum becomes unstable when the magnitude of the in aton eld falls below some critical value, and a rst or second order transition to the true vacuum ensues. Particular attention is paid to the case, te...

The primary goal of monetary policy in most countries is low infl ation. And a major consideration for the monetary policy decision is the forecast for infl ation over the next couple of years. One important input into these forecasts is a judgment on the current level of infl ationary pressures. But, unfortunately, the data for headline infl ation released each quarter (in Australia) or each m...

OF THE DISSERTATION Algorithms and LP-Duality Based Lower Bounds in Ad-hoc Radio Networks by Rohan Jude Fernandes Dissertation Director: Mart́ın Farach-Colton An Ad-hoc Radio Network consists of nodes with no knowledge of its neighbors and knowledge of its own ID and n, the size of the network. In this thesis, we present algorithms and lower bounds related to ad-hoc network initialization. Senso...

We show the existence of weak ε-nets of size O (1/ε log log (1/ε)) for point sets and axisparallel boxes in R, for d ≥ 4. Our analysis uses a non-trivial variant of the recent technique of Aronov et al. [2] that yields (strong) ε-nets, whose size have the above asymptotic bound, for d = 2, 3.

This paper is a brief evaluation of the Eurosystem's monetary-policy regime after its first year, in particular of the extent to which it is similar to inflation targeting as practiced by an increasing number of central banks. I examine the Eurosystem's goals, framework for monetary-policy decisions and communication with outsiders. Criteria for evaluation are whether the goals are unambiguous ...