40,654 research outputs found
Public Debt and the Future of the EU's Stability and Growth Pact
Monetary policy and fiscal policy are connected in various ways. This is why the adoption of the Euro as a common European currency has been accompanied by the setup of the European Union's Stability and Growth Pact, a framework for the coordination of the EU countries' fiscal policies. In this paper, we provide a short overview of the SGP's history of origins and the degree to which the EU Member States adhered to it. Further, we analyse what effects public debt and public deficits have and whether, after all, public debt should be limited in one way or the other. Along these lines, the case for budgetary policy coordination in the special context of the Economic and Monetary Union is presented. After looking at the current SGP framework, we shed light on its main shortcomings and present various reform proposals, all of which are critically questioned. Finally, we present a case for a more flexible country-by-country approach to the interpretation of the deficit criterion (based on some simple algebra). --Stability and Growth Pact (SGP),public debt,public deficits,fiscal policy,policy coordination,Maastricht criteria
Polynomial-Time Approximation Scheme for Data Broadcast
The data broadcast problem is to find a schedule for broadcasting a given set
of messages over multiple channels. The goal is to minimize the cost of the
broadcast plus the expected response time to clients who periodically and
probabilistically tune in to wait for particular messages.
The problem models disseminating data to clients in asymmetric communication
environments, where there is a much larger capacity from the information source
to the clients than in the reverse direction. Examples include satellites,
cable TV, internet broadcast, and mobile phones. Such environments favor the
``push-based'' model where the server broadcasts (pushes) its information on
the communication medium and multiple clients simultaneously retrieve the
specific information of individual interest.
This paper presents the first polynomial-time approximation scheme (PTAS) for
data broadcast with O(1) channels and when each message has arbitrary
probability, unit length and bounded cost. The best previous polynomial-time
approximation algorithm for this case has a performance ratio of 9/8
Towards Dual-functional Radar-Communication Systems: Optimal Waveform Design
We focus on a dual-functional multi-input-multi-output (MIMO)
radar-communication (RadCom) system, where a single transmitter communicates
with downlink cellular users and detects radar targets simultaneously. Several
design criteria are considered for minimizing the downlink multi-user
interference. First, we consider both the omnidirectional and directional
beampattern design problems, where the closed-form globally optimal solutions
are obtained. Based on these waveforms, we further consider a weighted
optimization to enable a flexible trade-off between radar and communications
performance and introduce a low-complexity algorithm. The computational costs
of the above three designs are shown to be similar to the conventional
zero-forcing (ZF) precoding. Moreover, to address the more practical constant
modulus waveform design problem, we propose a branch-and-bound algorithm that
obtains a globally optimal solution and derive its worst-case complexity as a
function of the maximum iteration number. Finally, we assess the effectiveness
of the proposed waveform design approaches by numerical results.Comment: 13 pages, 10 figures. This work has been submitted to the IEEE for
possible publication. Copyright may be transferred without notice, after
which this version may no longer be accessibl
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