Connectionist-based rules describing the pass-through of individual goods prices into trend inflation in the United States

This paper demonstrates a mechanism whereby rules can be extracted from a feedforward neural network trained to characterize the inflation "pass-through" problem in American monetary policy, defined as the relationship between changes in the growth rate(s) of individual commodities and the economy-wide rate of growth of consumer prices. Monthly price data are encoded and used to train a group of candidate connectionist architectures. One candidate is selected for rule extraction, using a custom decompositional extraction algorithm that generates rules in human-readable and machine-executable form. Rule and network accuracy are compared, and comments are made on the relationships expressed within the discovered rules. The types of discovered relationships could be used to guide monetary policy decisions.

Negotiating regional futures:the successes and failures of the West Midlands Regional Development Agency Network

The introduction of Regional Development Agencies (RDAs) in the English regions in 1999 presented a new set of collaborative challenges to existing local institutions. The key objectives of the new policy impetus emphasise increased joined-up thinking and holistic regional governance. Partners were enjoined to promote cross-sector collaboration and present a coherent regional voice. This study aims to evaluate the impact of an RDA on the partnership infrastructure of the West Midlands. The RDA network incorporates a wide spectrum of interest and organisations with diverse collaborative histories, competencies and capacities. The study has followed partners through the process over an eighteen-month period and has sought to explore the complexities and tensions of partnership working 'on the ground'. A strong qualitative methodology has been employed in generating 'thick descriptions' of the policy domain. The research has probed beyond the 'rhetoric' of partnerships and explores the sensitivities of the collaboration process. A number of theoretical frameworks have been employed, including policy network theory; partnership and collaboration theory; organisational learning; and trust and social capital. The structural components of the West Midlands RDA network are explored, including the structural configuration of the network and stocks of human and social capital assets. These combine to form the asset base of the network. Three sets of network behaviours are then explored, namely, strategy, the management of perceptions, and learning. The thesis explores how the combination of assets and behaviours affect, and in turn are affected by, each other. The findings contribute to the growing body of knowledge and understanding surrounding policy networks and collaborative governance.

Depression to decolonization:Berclays Bank (DCO) in the West Indies, 1926-1962. By Kathleen E.A. Monteith. Kingston: University of the West Indies Press, 2008. xvi + 355pp. Illustrations, tables. figures, appendix, bibliography, notes, index. $30.00. ISBN: 879-976-640-198-6.

Book review

Regional responses to recession:the role of the West Midlands regional taskforce

Bailey D. and Berkeley N. Regional responses to recession: the role of the West Midlands Regional Taskforce, Regional Studies. Regional taskforces were set up across the English regions in late 2008 in response to the most severe recession since the Second World War. This paper examines the role of one such body, the West Midlands Regional Taskforce, as an example of regional response to recession, and offers potential lessons for the future in dealing with such situations. In so doing it reflects on the contested concept of regional 'resilience' and its relevance for policy actions at the regional level. Understanding how the region responded in this way could help in maintaining a 'permanent capacity' to deal with shocks, especially in the context of the abolition of regional development agencies (RDAs) in England from 2012 and their replacement with local enterprise partnerships (LEPs). © 2014 © 2014 The Author(s). Published by Taylor & Francis.