Search results for "RULE"
showing 10 items of 1403 documents
Some new results on interest rate rules in EMU and in the US
2000
Abstract This paper offers two new results on interest rate rules. First, we show that the empirical evidence from 1970 onwards for the US is compatible with a Taylor rule when we consider the possibility of changes in the inflation target and in the real interest rate. Second, recursive estimates of a forward-looking version of the Taylor rule for EMU confirm an increasing weight for inflation in the area, possibly as a consequence of the EMS, and, furthermore, a convergence in the nineties to the German value observed for the whole period. This process has coincided with an important reduction in the deviation of inflation across EMU countries. The results also show that credibility probl…
The Taylor Rule and the Practice of Central Banking
2010
The Taylor rule has revolutionized the way many policymakers at central banks think about monetary policy. It has framed policy actions as a systematic response to incoming information about economic conditions, as opposed to a period-by-period optimization problem. It has emphasized the importance of adjusting policy rates more than one-for-one in response to an increase in inflation. And, various versions of the Taylor rule have been incorporated into macroeconomic models that are used at central banks to understand and forecast the economy. ; This paper examines how the Taylor rule is used as an input in monetary policy deliberations and decision-making at central banks. The paper charac…
A Small Forward-Looking Macroeconomic Model for EMU
2001
In this paper we estimate a small forward-looking macroeconomic model for EMU which allows us to analyze the transmission mechanism of the monetary policy implemented by the European Central Bank through an interest rate rule that stabilizes inflation and output. The estimation of this model, which comprises forward-looking versions of the IS and the Phillips curves as well as the interest rate rule, is conducted by GMM using quarterly data from 1986 to 2000. We find that this simple model matches the dynamic properties of the output gap, inflation and the interest rate in EMU quite accurately. We also perform several exercises that show the response of output, inflation and interest rates …
Analysis and design of sequencing rules for car sequencing
2009
Abstract This paper presents novel approaches for generating sequencing rules for the car sequencing (CS) problem in cases of two and multiple processing times per station. The CS problem decides on the succession of different car models launched down a mixed-model assembly line. It aims to avoid work overloads at the stations of the line by applying so-called sequencing rules, which restrict the maximum occurrence of labor-intensive options in a subsequence of a certain length. Thus to successfully avoid work overloads, suitable sequencing rules are essential. The paper shows that the only existing rule generation approach leads to sequencing rules which misclassify feasible sequences. We …
Combining OWL ontologies usingE-Connections
2006
The standardization of the Web Ontology Language (OWL) leaves (at least) two crucial issues for Web-based ontologies unsatisfactorily resolved, namely how to represent and reason with multiple distinct, but linked ontologies, and how to enable effective knowledge reuse and sharing on the Semantic Web. In this paper, we present a solution for these fundamental problems based on E-Connections. We aim to use E-Connections to provide modelers with suitable means for developing Web ontologies in a modular way and to provide an alternative to the owl:imports construct. With such motivation, we present in this paper a syntactic and semantic extension of the Web Ontology language that covers E-Conn…
Recent Developments in the Inhibition of Bacterial Adhesion as Promising Anti-Virulence Strategy
2023
Infectious diseases caused by antimicrobial-resistant strains have become a serious threat to global health, with a high social and economic impact. Multi-resistant bacteria exhibit various mechanisms at both the cellular and microbial community levels. Among the different strategies proposed to fight antibiotic resistance, we reckon that the inhibition of bacterial adhesion to host surfaces represents one of the most valid approaches, since it hampers bacterial virulence without affecting cell viability. Many different structures and biomolecules involved in the adhesion of Gram-positive and Gram-negative pathogens can be considered valuable targets for the development of promising tools t…
The Role of Fraudulent Transfer Rules in Corporate Insolvency
2008
"The article is based on a lecture given by the author in Paris on the 12. October 2007 in the context of a Symposium devoted to corporate insolvency law. It deals with the role of fraudulent transfer rules in company law. The research is carried out on the field of comparative and European law. It therefore starts from a stipulative definition of [UTF-8?]“fraudulent transfer [UTF-8?]rules†which excludes preferences (even if they belong to the matter, in some legal systems) but includes the regulations aimed at subordinating [UTF-8?]shareholders’ loans. The paper demonstrates that the different [UTF-8?]“fraudulent transfer [UTF-8?]rules†adopted by principal EU Member States conver…
Logical Sentential Calculi Inspired by the Chrysippean Sentential Calculus
2021
The aim of the present paper is to consider an approach, different from that presented by J. Łukasiewicz, concerning the interpretation of the so-called stoic undemonstrables, which were given by Chrysippus. Stoic undemonstrables have been interpreted in two different ways: using the notion of “negation of a sentence” (Łukasiewicz) and using the notion of “a sentence inconsistent with a given one” (Mates). According to the Stoics, two sentences are inconsistent if one of them is negation of the other. The Mates’ interpretation generates five different inference rules. Based on one of these rules we can consider (with other undemonstrables) four different stoic propositional calculi. Taking …
A New Dynamic Model for Anticipatory Adaptive Control of Airline Seat Reservation via Order Statistics of Cumulative Customer Demand
2017
This paper deals with dynamic anticipatory adaptive control of airline seat reservation for the stochastic customer demand that occurs over time T before the flight is scheduled to depart. It is assumed that time T is divided into m periods, namely a full fare period and m−1 discounted fare periods. The fare structure is given. An airplane has a seat capacity of U. For the sake of simplicity, but without loss of generality, we consider (for illustration) the case of nonstop flight with two fare classes (business and economy). The proposed policies of the airline seat inventory control are based on the use of order statistics of cumulative customer demand, which have such properties as bivar…
Adaptive Stochastic Airline Seat Inventory Control under Parametric Uncertainty
2013
Airline seat inventory control is a very profitable tool in the airline industry. The problem of adaptive stochastic airline seat inventory control lies at the heart of airline revenue management. This problem concerns the allocation of the finite seat inventory to the stochastic customer demand that occurs over time before the flight is scheduled to depart. The objective is to find the right combination of customers of various fare classes on the flight such that revenue is maximized. In this paper, the static and dynamic policies of stochastic airline seat inventory control (airline booking) are developed under parametric uncertainty of underlying models, which are not necessarily alterna…