Search results for " budget"
showing 10 items of 186 documents
Is an Increase of the Fiscal Budget at EMU level Desirable?
2005
The birth of the European Monetary Union (EMU) has determined the creation of a common currency, the Euro, but unlike other monetary unions, the EMU does not have a central fiscal authority. The role of fiscal policy is left to the responsibility of the governments of the EMU member States. The new architecture modifies the assignment of the instruments to the objectives, especially those of stabilization. The loss of the sovereignty of monetary policy and exchange rate control by the individual member states has determined the inability to use two important instruments of insurance against the risks of shocks. Moreover, the Treaty of Maastricht and the Stability and Growth Pact (SGP) could…
Searching for Threshold Effects in the Evolution of Budget Deficits: An Application to the Spanish Case
2004
Abstract In this paper, we use recent developments on threshold autoregressive (TAR) models that allow us to derive endogenously threshold effects in the evolution of the Spanish budget deficit. Specifically, a mean-reverting dynamic behaviour of the budget deficit should be expected once such threshold is reached.
Fiscal Convergence, Business Cycle Volatility and Growth
2009
This paper analyzes the effects of fiscal convergence on business cycle volatility and growth. Using a panel 21 OECD countries (including 11 EMU countries) and 40 years of data, we find that countries with similar government budget positions tend to have smoother business cycles. That is, fiscal convergence (in the form of persistently similar ratios of government surplus/deficit to GDP) is systematically associated with smoother business cycles. We also find evidence that reduced business cycle volatility through higher fiscal convergence stimulates growth. Our empirical results are economically and statistically significant and robust.
The Economic Rationale of Fiscal Rules in OCAs: The Stability and Growth Pact and the Excessive Deficit Procedure
2013
This chapter examines the case of different regions within a single country that wish to share a common currency, even though they have divergent trends in unemployment, inflation, wages, non-wage costs and productivity. This situation compares with the case of a group of EU countries, each with its own decentralised national budget, that have established a monetary union and that are facing asymmetric shocks. As such an economic context requires fiscal commitments from national governments, we analyse the economic rationale of setting fiscal rules for a common currency area and the resulting EU institutional frame for the Stability and Growth Pact (SGP) and the Excessive Deficit Procedure …
New Challenges of Economic and Business Development – 2012 : Conference Proceedings (May 10 - 12, 2012, Riga, University of Latvia)
2012
Support for Conference Proceedings by ERAF Project "Support for the international cooperation projects and other international cooperation activities in research and technology at the University of Latvia" No. 2010/0202/2DP/2.1.1.2.0/10/APIA/VIAA/013
Employment Protection Reform and Unemployment Inequality in a Matching Model (Reforme De La Protection De L'Emploi Et Inegalites Face Au Chomage Dans…
2007
This paper studies the impact of an unemployment protection legislation reform - a substitution between an experience rated tax and firing costs - on the level and structure of unemployment by skills. In this purpose, we consider a matching model which incorporates endogenous reservation products for job creation and job destruction, labor demand derives from a free entry condition and the tax rate aimed at financing unemployment benefits results from a balanced budget constraint. In this setting, it is shown that the introduction of the experience rated tax may improve the performance of the labor marekt; the drawbacks of such a reform depend on the degree of substitution between tradition…
Assessing Radiation Hardness of SIC MOS Structures
2018
It is widely known that devices based on wide gap semiconductors show potential benefits in terms of saving mass, increasing power densities compared with standard Silicon ones [1]. The higher operating temperatures these components can withstand can also reduce the power budget currently used for cooling down power electronics. These factors are critical in space applications where, for example SiC devices are very promising. However, in this field reliability is a paramount requirement, and radiation conditions can compromise the usage of these new technologies.
Power allocation in multi-channel cognitive radio networks with channel assembling
2011
Accepted version of a paper in the book: 2011 IEEE 12th International Workshop on Signal Processing Advances in Wireless Communications (SPAWC). Published version available from the IEEE:http://dx.doi.org/10.1109/SPAWC.2011.5990485 Consider power allocation for Secondary User (SU) packet transmissions over multiple channels with variable Primary User (PU) arrival rates in cognitive radio networks. Two problems are studied in this paper: The first one is to minimize the collision probability with PUs and the second one is to maximize the data rate while keeping the collision probability bounded. It is shown that the optimal solution for the first problem is to allocate all power onto the bes…
Joint Optimization of Detection Threshold and Resource Allocation in Infrastructure-based Multi-band Cognitive Radio Networks
2012
[EN] Consider an infrastructure-based multi-band cognitive radio network (CRN) where secondary users (SUs) opportunistically access a set of sub-carriers when sensed as idle. The carrier sensing threshold which affects the access opportunities of SUs is conventionally regarded as static and treated independently from the resource allocation in the model. In this article, we study jointly the optimization of detection threshold and resource allocation with the goal of maximizing the total downlink capacity of SUs in such CRNs. The optimization problem is formulated considering three sets of variables, i.e., detection threshold, sub-carrier assignment and power allocation, with constraints on…
Combining heat-transfer and energy budget models to predict thermal stress in Mediterranean intertidal mussels
2011
Recent studies have emphasised that organisms can experience physiological stress well within their geographic range limits. Developing methods for mechanistically predicting the presence, absence and physiological performance of organisms is therefore important because of the ongoing effects of climate change. In this study, we merged a biophysical–ecological (BE) model that estimates the aquatic (high tide) and aerial (low tide) body temperatures of Mytilus galloprovincialis with a Dynamic Energy Budget (DEB) model to predict growth, reproduction and mortality of this Mediterranean mussel in both intertidal and subtidal environments. Using weather and chlorophyll-a data from three Mediter…