Evaluating and managing systemic risk in the European Union

The financial crisis has exposed the weaknesses in national and international economies, the disruption of the financial systems all over the world. The aim of this paper is to point out the importance of systemic risk management in the European Union (EU). Structured on two parts, the study presents the evaluation methods of the systemic risk in the mentioned area and the main proposals for the financial stability reconstruction. To conclude, deep reforms are needed: an adequate financial regulation and supervision, the evaluation of the performance over time, new rules for improving capital and liquidity and a better communication between institutions in order to prevent and neutralize possible distress.Systemic risk; financial crisis; European Union

Essays on inflation targeting, price stability and the conduct of monetary policy under imperfect credibility

EThOS - Electronic Theses Online ServiceGBUnited Kingdo

Return the output effect of stopping inflation when velocity is time varying

This paper explores the effect of time varying velocity in a transition to price stability. Nonstationary velocity, expressed asfunction of consumption, is made endogenous in Ireland's (1997) model. We find that the disinflationary booms found by Ball(1994) may or may not disappear; and also that temporary output losses may be much larger than previously thought, dependingon velocity. A gradual disinflation of low inflation may even be undesirable given its overall negative impact on the economy.Finally, we explore the optimal speed of disinflation

Fragment answers and double negation in strict negative concord languages

International audienceThis paper revisits the phenomenon of negative concord (NC) as an instance of polarity sensitivity. We shed light on a new set of data regarding n-words as fragment answers to negative questions and show that we find unexpected double negation (DN) readings for fragment n-words in view of their behavior in non-elliptical constructions. To account for this pattern, we offer an updated version of the hypothesis that n-words are strong NPIs, making use of an alternatives-and-exhaustification approach. We argue that the difference between n-words and other NPIs should be seen as the result of two parameters: (i) whether reconstruction of the polarity item is allowed, and (ii) whether the polarity item has the ability to license a covert negation operator. The result is an explanatory account of NC and DN readings in both non-elliptical and elliptical environments, which allows for an easier integration of n-words in the broader typology of polarity sensitive items

Imperfectly-credible disinflation of small inflations

In this paper we study and quantify the e¤ects of a disinflationary policyon output and welfare. Our focus is the policy question of the optimal response to low inflation.The analysis takes place in the context of a DSGEmodel with sticky prices, time varying velocity and imperfect credibility.The nonlinear solution method reveals that early output losses may be morepronounced and more prolonged than previously suggested in the literature,and there may be insufficient compensation from a subsequent higher steadystate to justify taking any disinflationary policy action in some cases

Study of galvanic corrosion for titanium and alloys used in dental implantology

Ця стаття представляє оцінку гальванічної корозії для титану і сплавів, використовуваних у зубної імплантації. Експериментально визначено зміни потенціалу в часі для різних зубних матеріалів: Ti5Al2,5Fe, Gaudor, Gaudent, Wisil, стань 10NiCr18, чистий комерційний титан.This paper present evaluation of galvanic corrosion for titanium and alloys used in dental implantology. It's been determined experimentally the potential change in time for different dental materials: Ti5Al2,5Fe, Gaudor, Gaudent, Wisil, steel 10NiCrl8, pure commercial titanium

Emotion Recognition System from Speech and Visual Information based on Convolutional Neural Networks

Emotion recognition has become an important field of research in the human-computer interactions domain. The latest advancements in the field show that combining visual with audio information lead to better results if compared to the case of using a single source of information separately. From a visual point of view, a human emotion can be recognized by analyzing the facial expression of the person. More precisely, the human emotion can be described through a combination of several Facial Action Units. In this paper, we propose a system that is able to recognize emotions with a high accuracy rate and in real time, based on deep Convolutional Neural Networks. In order to increase the accuracy of the recognition system, we analyze also the speech data and fuse the information coming from both sources, i.e., visual and audio. Experimental results show the effectiveness of the proposed scheme for emotion recognition and the importance of combining visual with audio data

Implication of Single Euro Payments Area for financial services market. The case of Romania

For our country, the development and the modernization of the national system of payments were and are a prevalent subject of the financial arena, after the socialist period since 1990. The purpose of this study is to examine the actual status and the future application of Single Euro Payments Area (SEPA). Frameworks, based on the Romanian experience. The study is structured on chapters that present the theoretical background of the theme, the strategy for the adoption and migration to SEPA payment instruments, the actual stage and the challenges of the SEPA implementation in Romania. Our aim is to underline the importance of adopting Single Euro Payments in our country and to present its overall impact on the national financial services market. Although Romania may be facing obstacles in terms of joining the Euro zone, it is already well integrated in terms of payment infrastructures and has already put in place SEPA instruments