Strong stability in the Hospitals/Residents problem

We study a version of the well-known Hospitals/Residents problem in which participants' preferences may involve ties or other forms of indifference. In this context, we investigate the concept of strong stability, arguing that this may be the most appropriate and desirable form of stability in many practical situations. When the indifference is in the form of ties, we describe an O(a^2) algorithm to find a strongly stable matching, if one exists, where a is the number of mutually acceptable resident-hospital pairs. We also show a lower bound in this case in terms of the complexity of determining whether a bipartite graph contains a perfect matching. By way of contrast, we prove that it becomes NP-complete to determine whether a strongly stable matching exists if the preferences are allowed to be arbitrary partial orders

Comparing futures and survey forecasts of near-term Treasury bill rates

Treasury bills ; Futures ; Forecasting

Epeiric Depositional Models for the Lower Cretaceous Washita Group North-Central Texas

UT Librarie

Monetary policy and recent business-cycle experience

Some critics of recent monetary policy have focused on slow M2 growth, claiming that the Federal Reserve is too interested in price stability and is forsaking its growth mandate. Others criticize the Fed for achieving price stability too cautiously and urge the adoption of a rule that seeks to eliminate inflation more quickly. ; R. W. Hafer, Joseph Haslag and Scott Hein examine two alternative monetary policies and gauge their expected impacts on economic activity. Both policies are simulated over the period 1987–92. One policy, a GNP-targeting rule similar to one proposed by Bennett McCallum, slows nominal GNP growth substantially. Simulated nominal GNP, however, is quite volatile under the GNP-targeting rule. The other policy, referred to in the article as the M2-targeting approach would have resulted in somewhat faster average nominal GNP growth compared with what actually occurred, the start-and-stop pattern exhibited during the recent U.S. recovery would still be present. Thus, the evidence indirectly supports the notion that real shocks were the driving force behind recent weakness in economic activity.Business cycles ; Monetary policy

Evaluating monetary base targeting rules

Monetary policy ; Money supply

Monetary base rules: the currency caveat

Money ; Monetary policy

Approximability results for stable marriage problems with ties

We consider instances of the classical stable marriage problem in which persons may include ties in their preference lists. We show that, in such a setting, strong lower bounds hold for the approximability of each of the problems of finding an egalitarian, minimum regret and sex-equal stable matching. We also consider stable marriage instances in which persons may express unacceptable partners in addition to ties. In this setting, we prove that there are constants delta, delta' such that each of the problems of approximating a maximum and minimum cardinality stable matching within factors of delta, delta' (respectively) is NP-hard, under strong restrictions. We also give an approximation algorithm for both problems that has a performance guarantee expressible in terms of the number of lists with ties. This significantly improves on the best-known previous performance guarantee, for the case that the ties are sparse. Our results have applications to large-scale centralized matching schemes

Forecasting inflation using interest rate and time-series models: some international evidence

Inflation (Finance) ; Forecasting

Federal government debt and inflation: evidence from Granger causality tests

Debts, Public ; Inflation (Finance) ; Deficit financing