Social Pacts, Unemployment, and EMU Macroeconomic Policy

currency; economic integration; EMU; Euro; European Central Bank; political economy; unemployment

Phase Locked Loop Test Methodology

Phase locked loops are incorporated into almost every large-scale mixed signal and digital system on chip (SOC). Various types of PLL architectures exist including fully analogue, fully digital, semi-digital, and software based. Currently the most commonly used PLL architecture for SOC environments and chipset applications is the Charge-Pump (CP) semi-digital type. This architecture is commonly used for clock synthesis applications, such as the supply of a high frequency on-chip clock, which is derived from a low frequency board level clock. In addition, CP-PLL architectures are now frequently used for demanding RF (Radio Frequency) synthesis, and data synchronization applications. On chip system blocks that rely on correct PLL operation may include third party IP cores, ADCs, DACs and user defined logic (UDL). Basically, any on-chip function that requires a stable clock will be reliant on correct PLL operation. As a direct consequence it is essential that the PLL function is reliably verified during both the design and debug phase and through production testing. This chapter focuses on test approaches related to embedded CP-PLLs used for the purpose of clock generation for SOC. However, methods discussed will generally apply to CP-PLLs used for other applications

Metropolitan Area Home Prices and the Mortgage Interest Deduction: Estimates and Simulations from Policy Change

We simulate changes to metropolitan area home prices from reforming the Mortgage Interest Deduction (MID). Price simulations are based on an extended user cost model that incorporates two dimensions of behavioral change in home buyers: sensitivity of borrowing and the propensity to use tax deductions. We simulate prices with both inelastic and elastic supply. Our results show a wide range of price effects across metropolitan areas and prospective policies. Considering behavioral change and no supply elasticity, eliminating the MID results in average home price declines as steep as 13.5% in Washington, D.C., and as small as 3.5% in Miami-Fort Lauderdale, FL. Converting the MID to a 15% refundable credit reduces prices by as much as 1.4% in San Jose, CA, San Francisco, CA, and Washington, D.C. and increases average price in other metropolitan areas by as much as 12.1% (Miami-Fort Lauderdale). Accounting for market elasticities produces price estimates that are on average 36% as large as standard estimates

"Nourishing European Interest Groups: The Delors Commission and Labour"

Not available

Exhaustible sets in higher-type computation

We say that a set is exhaustible if it admits algorithmic universal quantification for continuous predicates in finite time, and searchable if there is an algorithm that, given any continuous predicate, either selects an element for which the predicate holds or else tells there is no example. The Cantor space of infinite sequences of binary digits is known to be searchable. Searchable sets are exhaustible, and we show that the converse also holds for sets of hereditarily total elements in the hierarchy of continuous functionals; moreover, a selection functional can be constructed uniformly from a quantification functional. We prove that searchable sets are closed under intersections with decidable sets, and under the formation of computable images and of finite and countably infinite products. This is related to the fact, established here, that exhaustible sets are topologically compact. We obtain a complete description of exhaustible total sets by developing a computational version of a topological Arzela--Ascoli type characterization of compact subsets of function spaces. We also show that, in the non-empty case, they are precisely the computable images of the Cantor space. The emphasis of this paper is on the theory of exhaustible and searchable sets, but we also briefly sketch applications

Asylum in Practice: Successes, Failures, and the Challenges Ahead

The Workshop on Refugee and Asylum Policy in Practice in Europe and North America was organized to facilitate a transatlantic dialogue aimed at understanding just how well these asylum systems are balancing the dual goals. The Workshop was convened by the Institute for the Study of International Migration (ISIM) of Georgetown University and the Center for the Study of Immigration, Integration and Citizenship Policies (CEPIC) of the Centre Nationale de Recherche Scientifique, with the support of the German Marshall Fund of the United States. It was held on July 1-3, 1999, at Oxford University. The workshop examined key issues as to the workings of the U.S. and European asylum systems: decision making on claims, deterrence of abuse, independent review, return of rejected asylum seekers, scope of the refugee concept, social rights and employment, international cooperation, and data and evaluation. In this opening paper, we explain the significance of these issues and raise central questions about them

Maintaining Social Security Benefits and Tax Rates through Personal Retirement Accounts: An Update Based on the 1998 Social Security Trustees Report

A program of Personal Retirement Accounts (PRAs) funded by deposits equal to 2.3 percent of earnings (up to the Social Security maximum) would permit retirees to receive more income in retirement than with the current Social Security program while at the same time making it unnecessary to increase the 12.4 percent payroll tax in response to the aging of the population. The gross cost of these deposits, approximately 0.9 percent of GDP, could be financed for more than a decade out of the budget surpluses currently projected by the Congressional Budget Office. By the year 2030, the additional corporate tax revenue that results from the enlarged capital stock financed by PRA assets would be able to finance fully these personal tax credits. During the intervening years (about 2020 to 2030), a reduction of other government spending or an increase in taxes would be needed if budget deficits are to be avoided. If implemented, the PRA program would not only increase retirement income and stabilize the Social Security payroll tax, but would also substantially increase national saving and GDP. NOTE: This is a revised version of "Two Percent Personal Retirement Accounts: Their Potential Effects on Social Security Tax Rates and National Saving," by Martin Feldstein and Andrew Samwick, issued in April, 1998 as working paper 6540.