Excess money growth and inflation dynamics

The paper analyzes the short-run impact of periods of strong monetary growth on inflation dynamics for 15 industrialized economies. We find that when robust money growth is accompanied by large increases in stock and house prices and loose credit conditions, the probability of recording an inflationary outburst over a three-year horizon is significantly increased. In contrast, significant money stock expansions which are not associated with sustained credit increases and strong dynamics in other asset prices seem to be less likely to have inflationary consequences and thus, less worrying from a policy perspective.Inflation, money growth, quantity theory of money

The Palaeographical Method under the Light of a Digital Approach

This paper has the twofold aim of reflecting upon a humanities computing approach to palaeography, and of making such reflections - together with its related experimental results - fruitful at the implementation level. Firstly, the paper explores the methodological issues related to the use of a digital tool to support the palaeographical analysis of medieval handwriting. It claims that humanities computing methods can assist in making explicit those processes of the palaeographical research that encompass detailed analyses, in particular of the handwriting and, more generally, of other idiosyncratic features of written cultural artefacts. Thus, palaeographical tools are to be contextualised and used within a broader methodological framework where their role is to mediate the vision, the comparison, the representation, the analysis and the interpretation of these objects. Secondly, the paper attempts to evaluate the experimentations carried out with a specific software and, in so doing, to test a humanities computing approach to palaeography at a practical level, so as to direct future implementations. Some of these implementations have already been carried out by the current developers of the application in question with whom the author collaborates closely, while others are still in progress and in need of future iterative refinements

Clustering tales from the Greek construction sector: lessons from experience

The idea of increasing regional and national economic competitiveness through the implementation of cluster strategies is not something new. In each business sector, in each country, the creation of clusters has been used to capitalise on sector characteristics and address country specific productivity needs. While clusters have met with significant success in many context, the Greek context and in particularly the Greek Construction sector has not been so fruitful. This paper, through the development of a conceptual framework, questionnaires with 92 firms and interviews with 10 key firms, sought to investigate the critical success factors for the creation of a cluster within the challenging context of the Greek construction sector. Using evidence of good practicefrom other European countries facing similar challenges and the empirical data, the findings indicated a series of factors which firms could adopt, mitigate against or manage to help improve the potential success of the cluster. The findingstherefore have important implications for interventions not only by the state and local authorities that will encourage construction firms to participate in a cluster, but also by the managers/owners/practitioners for the creation of the required foundations for their participation in an environment where competitors cooperate

Supporting Teachers to Automatically Build Accessible Pedagogical Resources: The APEINTA Project

Proceedings of: First International Conference, TECH-EDUCATION 2010, Athens, Greece, May 19-21, 2010Most of the universities in Europe have started their process of adaptation towards a common educational space according to the European Higher Education Area (EHEA). The social dimension of the Bologna Process is a constituent part of the EHEA and it is a necessary condition for the attractiveness and competitiveness of the EHEA. Two of the main features of the social dimension are the equal access for all the students and the lifelong learning. One of the main problems of the adaptation process to the EHEA is that the teachers have no previous references and models to develop new pedagogical experiences accessible to all the students, nevertheless of their abilities, capabilities or accessibility characteristics. The APEINTA project presented in this paper can be used as a helpful tool for teachers in order to cope with the teaching demands of EHEA, helping the teachers to automatically build accessible pedagogical resources even when the teachers are not accessibility experts. This educational project has been successfully used in 2009 in two different degrees at the Carlos III University of Madrid: Computer Science and Library and Information Science

The History of the Quantitative Methods in Finance Conference Series. 1992-2007

This report charts the history of the Quantitative Methods in Finance (QMF) conference from its beginning in 1993 to the 15th conference in 2007. It lists alphabetically the 1037 speakers who presented at all 15 conferences and the titles of their papers.

Evolution of innovation policy in Emilia-Romagna and Valencia: Similar reality, similar results?

Ingenio Working Paper Series.This paper examines the evolution of regional innovation policy in Emilia-Romagna and Valencia, two regions with similar economic features that implemented close innovation policies in the 1970s and 1980s. We investigate whether their similarities have led to parallel targets, policy tools and governance developments. We show that innovation policy in both regions suffered from the effects of privatization, budget constraints and changes to manufacturing during the 1990s and we highlight the consequences. Although Emilia-Romagna experienced deeper changes to its innovation policy, privatizations and/or the replacement of public funds promoted commercial approaches and induced market failures in both regions. The worst effects of these policies were the implementation of less-risky innovation projects, the shift towards extra-regional projects and markets, and the favouring of large firms.Peer reviewe

Evidence for ambient dark aqueous SOA formation in the Po Valley, Italy

Laboratory experiments suggest that water-soluble products from the gas-phase oxidation of volatile organic compounds can partition into atmospheric waters where they are further oxidized to form low volatility products, providing an alternative route for oxidation in addition to further oxidation in the gas phase. These products can remain in the particle phase after water evaporation, forming what is termed as aqueous secondary organic aerosol (aqSOA). However, few studies have attempted to observe ambient aqSOA. Therefore, a suite of measurements, including near-real-time WSOC (water-soluble organic carbon), inorganic anions/cations, organic acids, and gas-phase glyoxal, were made during the PEGASOS (Pan-European Gas-AeroSOls-climate interaction Study) 2012 campaign in the Po Valley, Italy, to search for evidence of aqSOA. Our analysis focused on four periods: Period A on 19–21 June, Period B on 30 June and 1–2 July, Period C on 3–5 July, and Period D on 6–7 July to represent the first (Period A) and second (Periods B, C, and D) halves of the study. These periods were picked to cover varying levels of WSOC and aerosol liquid water. In addition, back trajectory analysis suggested all sites sampled similar air masses on a given day. The data collected during both periods were divided into times of increasing relative humidity (RH) and decreasing RH, with the aim of diminishing the influence of dilution and mixing on SOA concentrations and other measured variables. Evidence for local aqSOA formation was only observed during Period A. When this occurred, there was a correlation of WSOC with organic aerosol (R2 = 0.84), aerosol liquid water (R2 = 0.65), RH (R2 = 0.39), and aerosol nitrate (R2 = 0.66). Additionally, this was only observed during times of increasing RH, which coincided with dark conditions. Comparisons of WSOC with oxygenated organic aerosol (OOA) factors, determined from application of positive matrix factorization analysis on the aerosol mass spectrometer observations of the submicron non-refractory organic particle composition, suggested that the WSOC differed in the two halves of the study (Period A WSOC vs. OOA-2 R2 = 0.83 and OOA-4 R2 = 0.04, whereas Period C WSOC vs. OOA-2 R2 = 0.03 and OOA-4 R2 = 0.64). OOA-2 had a high O ∕ C (oxygen ∕ carbon) ratio of 0.77, providing evidence that aqueous processing was occurring during Period A. Key factors of local aqSOA production during Period A appear to include air mass stagnation, which allows aqSOA precursors to accumulate in the region; the formation of substantial local particulate nitrate during the overnight hours, which enhances water uptake by the aerosol; and the presence of significant amounts of ammonia, which may contribute to ammonium nitrate formation and subsequent water uptake and/or play a more direct role in the aqSOA chemistry