We investigate how dissent in the Federal Open Market Committee (FOMC) is affected by structural macroeconomic shocks obtained using a medium-scale dynamic stochastic general equilibrium model. We find that dissent is less (more) frequent when demand (supply) shocks are the predominant source of inflation fluctuations. In addition, supply shocks are found to raise private sector forecasting uncertainty about th...
Empirical evidence shows that the order of integration of returns and dividend growth is approximately equal to the order of integration of the first-differenced price–dividend ratio, which is about 0.7. Yet the present-value identity implies that the three series should be integrated of the same order. We reconcile this puzzle by showing that the aggregation of antipersistent expected returns and expected divi...
SOLO project aims to deliver actionable transdisciplinary roadmaps for future soil-related research and innovation activities in the EU, contributing to the objectives of the EU Soil Mission. To achieve this overarching goal, the project employs a transdisciplinary task force known as Think Tanks (TTs). Comprising 10 Think Tanks, SOLO aligns these entities with the specific objectives established by the EU Miss...
Advanced economies tend to have large financial sectors which can be vulnerable to crises. We employ a DSGE model with banks featuring limited liability to investigate how risk shocks in the financial sector affect long-run macroeconomic outcomes. With full deposit insurance, banks expand balance sheets when risk increases, leading to higher investment and output. With no deposit insurance, we observe substanti...
In this paper, we estimate the path of daily SARS-CoV-2 infections in England from the beginning of the pandemic until the end of 2021. We employ a dynamic intensity model, where the mean intensity conditional on the past depends both on past intensity of infections and past realized infections. The model parameters are time-varying, and we employ a multiplicative specification along with logistic transition fu...
Unmanned aerial vehicles (UAVs) are the next technology to be incorporated into a telecommunications network to improve command and control on a large scale in both line-of-sight (LOS) and non-line-of-sight (NLOS) conditions. However, there is still room for improvement in terms of reliability. This paper investigates Constant Packet Combining (CPC) and Adaptive Packet Combining (APC) techniques applied to Unma...
3D archaeological visualization is an increasingly frequent and necessary practice, but it still faces application issues. Those are substantiated by the use of visualization tools that are not customized for the archaeological needs and the privileged use of the visual features of models during the archaeological process stages. We propose some visualization methods, based on procedures traditionally practised...
In Faial Island (Azores Archipelago, North Atlantic Ocean), charcoalified and mummified wood fossils have been reported within late Holocene (Meghalayan) pyroclastic deposits from the Caldeira Formation. Due to their re cent age, a detailed study conveys a snapshot into Azorean palaeophytodiversity and palaeovegetation, ca. 7–5 centuries before the arrival of Portuguese settlers to the Azores Islands. Here we p...
The increasing use of smart health devices is causing relevant behavioural changes, introducing new forms of health promotion. However, most of these interventions are the result of a self-personal, derived from each one’s knowledge of their state of health and considering the goals that each one establishes for themselves. These devices usually have software applications designed to collect and display data, w...
Water demand in islands, focused in agriculture, domestic use and tourism, is usually supplied by groundwater. Thus the information about groundwater distribution is an important issue in islands water resources management. Time Domain Electromagnetic (TDEM) provides underground resistivity distribution at greater depths and is of easier application than other methods. In this study TDEM technique was used for ...