The ‘Visible Hand’ of the ECB’s Quantitative Easing. CEPS Working Document No. 407/May 2015

Quantitative easing à la ECB has produced so far an impact on long-term nominal rates through ex ante channels: signalling channels, term duration channels, and risk premia channels. The term duration channel will also lead to a lengthening of the average maturity of government debts, with possible implications for fiscal policy. The ECB’s determination to buy government bonds in a fragmented market with a low net supply may also produce an ex post impact, during the actual asset purchases, but less on nominal rates and more on financial plumbing, as recent volatility suggests. As the effects of scarce supply in collateral markets are felt, repo rates remain well below zero. Lower supply and limited re-usability of high quality collateral, capped by regulatory requirements, is a constraint on market liquidity and compresses dealers’ balance sheets. By keeping a depressed yield curve and asset prices high, QE may also accelerate the consolidation of both traditional and capital-market based (dealer) bank business models. What is less clear is how these changing business models will interact with the sharp rise of the asset management industry in the aftermath of the crisis, which raises questions about the implications for global collateral flows and deposit-like funding channels.

A diversidade cultural e as suas implicações no processo de ensino e aprendizagem : como integrar a diversidade na educação de infância

Relatório de estágio apresentado para obtenção do grau de mestre na especialidade profissional de Educação pré-escolar

Implementazione di sistemi per visible light communication su Raspberry Pi

Grazie all'enorme sviluppo dei LED, le comunicazioni tramite luce visibile stanno acquisendo sempre maggiore importanza. Obiettivo di questa tesi è implementare su schede a basso costo (come Rasperry Pi) un sistema di trasmissione e ricezione basato appunto sulla visible light communication. Dopo un primo tentativo di trasferire il codice OpenVLC, sviluppato dal centro di ricerca spagnolo IMDEA Network, su Rasperry Pi, si è deciso di intraprendere una nuova strada e si è implementato un trasmettitore VLC in Simulink di Matlab e una prima bozza di ricevitore che sfrutta la SPI (serial-parallel interface). I primi risultati mostrano il corretto funzionamento del sistema anche se con data rate molto basse. Sviluppi futuri prevederanno l'ottimizzazione del sistema.

Minorities in ACTION : Peace Corps, VISTA, Foster Grandparent Program, Retired Senior Volunteer Program, Service Corps of Retired Executives, Active Corps of Executives, University Year for ACTION.

ACTION pamphlet 4000-7."

Minorities and women as government contractors : a report of the United States Commission on Civil Rights.

Cover title.

Minorities and women in private industry, 1975 : an analysis of EEO-1 employment /

Includes bibliographical references.

Selected list of postsecondary education opportunities for minorities and women.

Cover title.

Discrimination against minorities and women in pensions and health, life, and disability insurance.

Includes bibliographical references.

Minorities and women in state and local governments, 1974 /

Chiefly tables.

Minorities in higher education.

Mode of access: Internet.

Strengthening support & recruitment of women & minorities to positions in education administration : a resource manual.

"December 1992"--T.p. verso.

La plaque photographique. Propriétés - Le visible - L'invisible.

Mode of access: Internet.

Cancer among blacks and other minorities : statistical profiles /

"National Cancer Institute, Division of Cancer Prevention and Control."