929 resultados para weak informative prior


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There are clear benefits to price stability. High inflation can distort corporate investment decisions and the consumption behaviour of households. Changes to inflation redistribute real wealth and income between different segments of society, such as savers and borrowers, or young and old. Price stability is therefore a fundamental public good and it became a fundamental principle of European Economic and Monetary Union. But the European Treaties do not define price stability. It was left to the Governing Council of the European Central Bank (ECB) to quantify it: "Price stability is defined as a year-on-year increase in the Harmonised Index of Consumer Prices (HICP) for the euro area of below 2%"[1]. The Governing Council has also clarified that it aims to maintain inflation below, but close to, two percent over the medium term, though it has not quantified what 'closeness' means, nor has it given a precise definition of the 'medium term'[2]. The clarification has been widely interpreted to mean that the actual target of the ECB is close to, but below, two percent inflation in the medium term.

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The political, military and economic parameters of German power influence the vision of the international order that Berlin favours. Politically, Germany is a regional power in the EU with considerable diplomatic potential. Economically, it is the world's third largest power with growing global trade and investment links. At the same time, Germany's military potential is limited and the German strategic culture makes the country sceptical about the use of military instruments. Berlin is thus essentially interested in maintaining peace and stability, both in Europe and globally, and in developing diplomatic mechanisms to manage regional and global crises and conflicts. The German preference for dialogue and compromise in conflict situations in the regional and global dimensions may increasingly pose a risk to maintaining the cohesion and credibility of NATO – both from the perspective of the USA and Germany’s allies from Central-Eastern and Northern Europe.

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The International School of Solid State Physics presented the 56th Course"Materials for Renewable Energy” in Erice (Italy), from July 18th to 28th 2012. This course was sponsored by the Italian Ministry of Education, University and Scientific Research, the Materials Research Society and the European Materials Research Society. The event was hosted at the "Ettore Majorana Foundation and Centre for Scientific Culture”. The school reviewed critical materials issues for the production and storage of renewable and sustainable energy. The aim of the School was to present the state-of-the-art and future perspectives in this critical area. It was to bring together the international community of students, young scientists, and experts in a unique atmosphere for reciprocal benefits in terms of enthusiasm, knowledge and new ideas.