40,422 research outputs found

    Inflation and the E M S

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    Since the European Monetary System was instituted in March 1979, there has been a dramatic reduction in the inflation rates of member countries This development is widely attributed to the EMS itself. The purpose of this paper is to argue that the theoretical and empirical basis for such a claim is far from conclusive. On the theoretical side, the paper develops a model which highlights two issues. First, changes in the "rules" of the exchange rate system need not coincide with changes in expectations about Central Bank behavior. In fact, I expectations in France do not seem to have changed until policy makers "got tough" in 1982-83. Second, different researchers have made quite different I assumptions about exactly what "rules" the EMS imposes. The paper shows that how the system works matters in terns of the effect joining will have on inflation. On the empirical side, the paper shows that effects which have been attributed to the EMS are in large part due to the global deflation since 1979 and to the fact that EMS members had relatively low inflation before 1979. However, even these estimates should be interpreted with caution. They are very sensitive to time period and to which non EMS countries are included in the sample.

    Access Update, June 2010

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    Monthly newsletter for the Iowa Department of Public Healt

    Assistance to Firefighters Program: Distribution of Fire Grant Funding

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    [Excerpt] Firefighting activities are traditionally the responsibility of states and local communities. As such, funding for firefighters is provided mostly by state and local governments. During the 1990s, shortfalls in state and local budgets, coupled with increased responsibilities of local fire departments, led many in the fire community to call for additional financial support from the federal government. Although federally funded training programs existed (and continue to exist) through the National Fire Academy, and although federal money was available to first responders for counterterrorism training and equipment through the Department of Justice, there did not exist a dedicated program, exclusively for firefighters, which provided federal money directly to local fire departments to help address a wide variety of equipment, training, and other firefighter-related needs

    Access Update, June 2011

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    Monthly newsletter for the Iowa Department of Public Healt

    Mulsemedia: State of the art, perspectives, and challenges

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    Mulsemedia-multiple sensorial media-captures a wide variety of research efforts and applications. This article presents a historic perspective on mulsemedia work and reviews current developments in the area. These take place across the traditional multimedia spectrum-from virtual reality applications to computer games-as well as efforts in the arts, gastronomy, and therapy, to mention a few. We also describe standardization efforts, via the MPEG-V standard, and identify future developments and exciting challenges the community needs to overcome

    Assistance to Firefighters Program: Distribution of Fire Grant Funding

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    [Excerpt] Firefighting activities are traditionally the responsibility of states and local communities. As such, funding for firefighters is provided mostly by state and local governments. During the 1990s, shortfalls in state and local budgets, coupled with increased responsibilities of local fire departments, led many in the fire community to call for additional financial support from the federal government. Although federally funded training programs existed (and continue to exist) through the National Fire Academy, and although federal money was available to first responders for counterterrorism training and equipment through the Department of Justice, there did not exist a dedicated program, exclusively for firefighters, which provided federal money directly to local fire departments to help address a wide variety of equipment, training, and other firefighter-related needs
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