What are the drivers of business cycle fluctuations? And how many are there? By documenting strong and predictable co-movement of real variables during the business cycle in a sample of advanced economies, we argue that most business cycle fluctuations are driven by one major factor. The positive co-movement of real output and inflation convincingly argues for a demand story. We propose a simple statistic that can compare data and models. Based on this statistic, we show that the recent vintage of structural economic models has difficulties replicating the stylized facts we document.
This paper discusses comovement between inflation and output in the euro area. The strength of the comovement may not be apparent at first sight, but is clear at business cycle frequencies. Our results suggest that at business cycle frequency, the output and core inflation comovement is high and stable, and that inflation lags the cycle in output with roughly half of its variance. The strong relationship of output and inflation hints at the importance of demand shocks for the euro area business cycle.
Doctors and scientists have been aware of the "phenomenom" of liver regeneration since the time of the ancient Greeks, illustrated by the mythic tale of Prometheus' punishment. Nevertheless, true insight into its intricate mechanisms have only become available in the 20th century. Since then, the pathways and mechanisms involved in restoring the liver to its normal function after injury have been resolutely described and characterized, from the hepatic stem/progenitor cell activation and expansion to the more systemic mechanisms involving other tissues and organs like bone-marrow progenitor cell mobilization. This book describes some of the complex mechanisms involved in liver regeneration and provides examples of the most up-to-date strategies used to induce liver regeneration, both in the clinic and in the laboratory. The information presented will hopefully benefit not only professionals in the liver field, but also people in other areas of science (pharmacology, toxicology, etc) that wish to expand their knowledge of the fundamental biology that orchestrates liver injury and regeneration.
This paper discusses comovement between inflation and output in the euro area. The strength of the comovement may not be apparent at first sight, but is clear at business cycle frequencies. Our results suggest that at business cycle frequency, the output and core inflation comovement is high and stable, and that inflation lags the cycle in output with roughly half of its variance. The strong relationship of output and inflation hints at the importance of demand shocks for the euro area business cycle.
What are the drivers of business cycle fluctuations? And how many are there? By documenting strong and predictable co-movement of real variables during the business cycle in a sample of advanced economies, we argue that most business cycle fluctuations are driven by one major factor. The positive co-movement of real output and inflation convincingly argues for a demand story. We propose a simple statistic that can compare data and models. Based on this statistic, we show that the recent vintage of structural economic models has difficulties replicating the stylized facts we document.
This book constitutes the refereed proceedings of the First European Symposium on Principles of Data Mining and Knowledge Discovery, PKDD '97, held in Trondheim, Norway, in June 1997. The volume presents a total of 38 revised full papers together with abstracts of one invited talk and four tutorials. Among the topics covered are data and knowledge representation, statistical and probabilistic methods, logic-based approaches, man-machine interaction aspects, AI contributions, high performance computing support, machine learning, automated scientific discovery, quality assessment, and applications.
This book strives to present the results of research into the consumption of goods and services in Czech households. The first two chapters focus on the effect of consumption on the environment and theoretical approaches towards consumption and behaviour analysis. The remaining five chapters look into consumer behaviour and its significant effect on the environment, such as a demand for energy and transport, energy-saving measures in households, car ownership and organic food consumption. This book aims to point out the environmental effects related to these types of behaviour and provide new information on the frequency of these types of consumer behaviour in various segments of the Czech society. This publication also accentuates the policies and other intervention tools that may be used to influence consumer behaviour.
This textbook offers for the first time a comprehensive analysis of the classic doctrines and main areas of international law from a European perspective, meeting the needs of the many European law schools teaching public international law in English. Special attention is devoted to the practice of the European Union, the Council of Europe and European States – both civil law and common law countries – with regard to international law. In particular the book analyses the interplay between international law, EU law and national law in the case law of the Court of Justice of the EU, the European Court of Human Rights and national jurisdictions in Europe. It provides the reader with insights into how the international legal practice of the EU and its Member States impacts the development of international law, both in terms of doctrines such as treaty-making and customary law, the exercise of (extraterritorial) jurisdiction, state responsibility and the settlement of disputes, as well as particular sub-fields of international law, such as human rights law and international economic law. In addition the book covers other important areas such as the use of force and collective security, the law of armed conflict, and global and regional international organisations. It provides European perspectives on all these issues and will be of great value to students, scholars and practitioners.
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