Debt-growth linkages in EMU across countries and time horizons

This paper contributes to the literature by empirically examining whether the influence of public debt on economic growth differs between the short and the long run and presents different patterns across euro-area countries. To this end, we use annual data from both central and peripheral countries of the European Economic and Monetary Union (EMU) for the 1960-2012 period and estimate a growth model augmented for public debt using the Autoregressive Distributed Lag (ARDL) bounds testing approach. Our findings tend to support the view that public debt always has a negative impact on the long-run performance of EMU countries, whilst its short-run effect may be positive depending on the country.

A Hardware Implementation of a Run-Time Scheduler for Reconfigurable Systems

New generation embedded systems demand high performance, efficiency and flexibility. Reconfigurable hardware can provide all these features. However the costly reconfiguration process and the lack of management support have prevented a broader use of these resources. To solve these issues we have developed a scheduler that deals with task-graphs at run-time, steering its execution in the reconfigurable resources while carrying out both prefetch and replacement techniques that cooperate to hide most of the reconfiguration delays. In our scheduling environment task-graphs are analyzed at design-time to extract useful information. This information is used at run-time to obtain near-optimal schedules, escaping from local-optimum decisions, while only carrying out simple computations. Moreover, we have developed a hardware implementation of the scheduler that applies all the optimization techniques while introducing a delay of only a few clock cycles. In the experiments our scheduler clearly outperforms conventional run-time schedulers based on As-Soon-As-Possible techniques. In addition, our replacement policy, specially designed for reconfigurable systems, achieves almost optimal results both regarding reuse and performance.