Discretionary policy in a monetary union with sovereign debt

This paper examines the interactions between multiple national fiscal policymakers and a single monetary policy maker in response to shocks to government debt in some or all of the countries of a monetary union. We assume that national governments respond to excess debt in an optimal manner, but that they do not have access to a commitment technology. This implies that national fiscal policy gradually reduces debt: the lack of a commitment technology precludes a random walk in steady-state debt, but the need to maintain national competitiveness avoids excessively rapid debt reduction. If the central bank can commit, it adjusts its policies only slightly in response to higher debt, allowing national fiscal policy to undertake most of the adjustment. However, if it cannot commit, then optimal monetary policy involves using interest rates to rapidly reduce debt, with significant welfare costs. We show that in these circumstances the central bank would do better to ignore national fiscal policies in formulating its policy

Fiscal sustainability in a new Keynesian model - additional appendix

Additional appendix relating to the article 'Fiscal sustainability in a new Keynesian model', forthcoming in the Journal of Money, Credit and Banking

Video Object Detection with an Aligned Spatial-Temporal Memory

We introduce Spatial-Temporal Memory Networks for video object detection. At its core, a novel Spatial-Temporal Memory module (STMM) serves as the recurrent computation unit to model long-term temporal appearance and motion dynamics. The STMM's design enables full integration of pretrained backbone CNN weights, which we find to be critical for accurate detection. Furthermore, in order to tackle object motion in videos, we propose a novel MatchTrans module to align the spatial-temporal memory from frame to frame. Our method produces state-of-the-art results on the benchmark ImageNet VID dataset, and our ablative studies clearly demonstrate the contribution of our different design choices. We release our code and models at http://fanyix.cs.ucdavis.edu/project/stmn/project.html

The broad spectrum and continuing needs of women’s health

[No abstract available

Internet of things support for marketing activities

Internet enabled consumer devices are beginning to be developed by manufacturers. In this paper, we examine how the internet of things can support marketing activities including customer relationship management, business intelligence and product design. In particular, the research reported in this paper examines how the internet of things can provide communication channels to support targeted marketing for product owners and enhance customer relationship management and product support. In addition, in this paper we examine how data gained from the operational use of internet-enabled devices can support business intelligence in terms of how consumers actually use a product, and can also support new product design in terms what features of current internet enabled products are most commonly used, and how they are used

Background modeling for video sequences by stacked denoising autoencoders

Nowadays, the analysis and extraction of relevant information in visual data flows is of paramount importance. These images sequences can last for hours, which implies that the model must adapt to all kinds of circumstances so that the performance of the system does not decay over time. In this paper we propose a methodology for background modeling and foreground detection, whose main characteristic is its robustness against stationary noise. Thus, stacked denoising autoencoders are applied to generate a set of robust characteristics for each region or patch of the image, which will be the input of a probabilistic model to determine if that region is background or foreground. The evaluation of a set of heterogeneous sequences results in that, although our proposal is similar to the classical methods existing in the literature, the inclusion of noise in these sequences causes drastic performance drops in the competing methods, while in our case the performance stays or falls slightly.Universidad de Málaga. Campus de Excelencia Internacional Andalucía Tech

CAD identification and validation of a non-linear dynamic model for performance analysis of large-signal amplifiers

We describe the CAD identification and software implementation of a Volterra-like integral series expansion for the behavioral-level simulation of communication amplifiers. The model represents an improvement with respect to the classical AM-AM AM-PM memoryless approach. The performance of the model is compared with both the AM-AM AM-PM approach and circuit-level CAD simulatio

Genomic variations define divergence of water/wildlife-associated Campylobacter jejuni niche specialists from common clonal complexes

Although the major food-borne pathogen Campylobacter jejuni has been isolated from diverse animal, human and environmental sources, our knowledge of genomic diversity in C. jejuni is based exclusively on human or human food-chain-associated isolates. Studies employing multilocus sequence typing have indicated that some clonal complexes are more commonly associated with particular sources. Using comparative genomic hybridization on a collection of 80 isolates representing diverse sources and clonal complexes, we identified a separate clade comprising a group of water/wildlife isolates of C. jejuni with multilocus sequence types uncharacteristic of human food-chain-associated isolates. By genome sequencing one representative of this diverse group (C. jejuni 1336), and a representative of the bank-vole niche specialist ST-3704 (C. jejuni 414), we identified deletions of genomic regions normally carried by human food-chain-associated C. jejuni. Several of the deleted regions included genes implicated in chicken colonization or in virulence. Novel genomic insertions contributing to the accessory genomes of strains 1336 and 414 were identified. Comparative analysis using PCR assays indicated that novel regions were common but not ubiquitous among the water/wildlife group of isolates, indicating further genomic diversity among this group, whereas all ST-3704 isolates carried the same novel accessory regions. While strain 1336 was able to colonize chicks, strain 414 was not, suggesting that regions specifically absent from the genome of strain 414 may play an important role in this common route of Campylobacter infection of humans. We suggest that the genomic divergence observed constitutes evidence of adaptation leading to niche specialization

Intracellular replication of the well-armed pathogen Burkholderia pseudomallei.

The Burkholderia genus contains a group of soil-dwelling Gram-negative organisms that are prevalent in warm and humid climates. Two species in particular are able to cause disease in animals, B. mallei primarily infects Equus spp. and B. pseudomallei (BPS), that is able to cause potentially life-threatening disease in humans. BPS is naturally resistant to many antibiotics and there is no vaccine available. Although not a specialised human pathogen, BPS possesses a large genome and many virulence traits that allow it to adapt and survive very successfully in the human host. Key to this survival is the ability of BPS to replicate intracellularly. In this review we highlight recent advances in our understanding of the intracellular survival of BPS, including how it overcomes host immune defenses and other challenges to establish its niche and then spread the infection. Knowledge of these mechanisms increases our capacity for therapeutic interventions against a well-armed foe