The Economics of Target Balances : From Lehman to Corona / / by Hans-Werner Sinn

• Record Nr.: UNINA9910468243003321
• Autore: Sinn Hans-Werner
• Pubbl/distr/stampa: Cham : , : Springer International Publishing : , : Imprint : Palgrave Macmillan, , 2020
• ISBN: 9783030501709; 3030501701
• Edizione: [1st ed. 2020.]
• Descrizione fisica: 1 online resource (XIII, 146 p. 14 illus.)
• Disciplina: 332.11094
• Soggetti: Economics; Economic policy; Europe - Economic conditions; Macroeconomics; International finance; Taxation - Law and legislation; Economic Policy; European Economics; Macroeconomics and Monetary Economics; International Finance; Fiscal Law
• Lingua di pubblicazione: Inglese
• Formato: Materiale a stampa
• Livello bibliografico: Monografia
• Nota di contenuto: Chapter 1: Target: An obscure aspect of the Eurosystem -- Chapter 2: The Target credit -- Chapter 3: Current account, capital movements and Target balances -- Chapter 4: The cash balance -- Chapter 5: How the Target balances came about: the first phase of the crisis -- Chapter 6: The case of Greece -- Chapter 7: External crowds out internal money -- Chapter 8: The QE program and the Target balances -- Chapter 9: The rate of interest on Target balances -- Chapter 10: Interest spreads and tiering -- Chapter 11: The Corona Crisis -- Chapter 12: The risks of Target and cash balances -- Chapter 13: Conclusions and policy recommendations. .
• Sommario/riassunto: "Though not initially expected or understood large movements in target balances at Eurozone Central Banks turned out to be a central essential feature of enabling the euro-system to survive a series of major shocks. In this beautifully and magisterially written book, Sinn describes clearly how this complex system has operated, and the several problems that this has entailed. An essential read for anyone interested in the workings of the euro-system." - Charles Goodhart, Emeritus Professor of Banking and Finance at the London School of Economics (LSE) "This excellent book, which deeply improves the understanding of the topic of Target balances, comes at a crucial moment in European history where due to the Corona-Crisis substantial reforms in the institutional organization of the Euro-Area and theEU will become necessary. It will help policy makers and academics when facing this enormous challenge. The book is rooted in theoretical economic principles and does not reflect a mere dogmatic or political view of the issue." - Frank Westermann, Professor of Economics and director of the Institute of Empirical Economic Research, Osnabrück University, Germany "This book is a must-read for anybody interested in the working and the problems of the eurosystem. The author analyses the developments which are reflected in a seemingly pure technical issue. Pervasive, stringent, just brilliant." - Otmar Issing, President of the Center for Financial Studies and former member of the ECB Executive Board (1998-2006) Target balances are the largest single item in some of the balance sheets of the Eurosystem's national central banks (NCBs), and yet very little is knownabout them by the general public and even by economists. This book shows that Target balances measure overdraft credits between the NCBs that resemble ordinary fiscal credit and which have grown disproportionately, exceeding one billion euros. There is, however, no parliamentary legitimation for the Target balances. The book sheds light on the economic significance of the balances, questions their limitlessness, and addresses controversial views that have been expressed regarding them. It uses the Target statistics to analyze the course of the euro crisis and the ECB's policy reactions from the time of the Lehman bankruptcy up to the outbreak of the Corona crisis. It analyses the credit risks involved for the Eurosystem and concludes with a reform proposal. This book will be of interest to non-specialist economists and policy makers.

Advances in Neural Computation, Machine Learning, and Cognitive Research VI : Selected Papers from the XXIV International Conference on Neuroinformatics, October 17-21, 2022, Moscow, Russia / / edited by Boris Kryzhanovsky, Witali Dunin-Barkowski, Vladimir Redko, Yury Tiumentsev

• Record Nr.: UNINA9910627241903321
• Pubbl/distr/stampa: Cham : , : Springer International Publishing : , : Imprint : Springer, , 2023
• ISBN: 3-031-19032-7
• Edizione: [1st ed. 2023.]
• Descrizione fisica: 1 online resource (585 pages)
• Collana: Studies in Computational Intelligence, , 1860-9503 ; ; 1064
• Disciplina: 745.05; 006.32
• Soggetti: Computational intelligence; Machine learning; Computational neuroscience; Computational Intelligence; Machine Learning; Computational Neuroscience
• Lingua di pubblicazione: Inglese
• Formato: Materiale a stampa
• Livello bibliografico: Monografia
• Nota di bibliografia: Includes bibliographical references and index.
• Nota di contenuto: Part I: Neuroinformatics and Artificial Intelligence -- Tree Inventory with LiDAR Data -- Towards Reliable Solar Atmospheric Parameters Neural-Based Inference -- Addressing Task Prioritization in Model-based Reinforcement Learning -- Automatic Generation of Conversational Skills from Dialog Datasets -- Part II: Neural Networks and Cognitive Sciences. Adaptive Behavior and Evolutionary Simulation -- Individual Topology Structure of Eye Movement Trajectories -- Neural Network Providing the Involvement of Voluntary Attention into the Processing and Conscious Perception of Sensory Information -- Alpha Rhythm Dynamics During Spoken Word Recognition -- Robotic Devices Control Based on Neuromorphic Classifiers of Imaginary Motor Commands -- A Software System for Training Motor Imagery in Virtual Reality -- On the Importance of Diversity -- “MYO-chat” – A New ; Computer Control System for People with Disabilities -- Low-bit Quantization of Transformer for Audio Speech Recognition -- A Model of Predicting andUsing Regularities by an Autonomous Agent -- A Review of One-Shot Neural Architecture Search Methods -- Does a Recurrent Neural Network Use Reflection During a Reflexive Game? -- A Gender Genetic Algorithm and its Comparison with Conventional Genetic Algorithm -- Associations of Morphometric Changes of the Brain with the Levels of IGF1, a Multifunctional Growth Factor, and with Systemic Immune Parameters Reflect the Disturbances of Neuroimmune Interactions in Patients with Schizophrenia -- Part III: Modern Methods and Technologies in Neurobiology -- Dynamics of Background and Evoked Activity of Neurons in the Auditory Cortex of the Unanaesthetized Cat -- Search for Markers of Moderate Cognitive Disorders through Phase Synchronization between Rhythmic Photostimulus and EEG Pattern -- Astrocytes Enhance Image Representation Encoded in Spiking Neural Network -- Classification of Neuron Type Based on Average Activity -- Comparative Analysis of Statistical and Neural Network Classification Methods onthe Example of Synthesized Data in the Stimulus-Independent Brain-Computer Interface Paradigm -- Shunting Effect of Synaptic Channels Located on Presynaptic Terminal -- Analysis of Appearances, Formation and Evolution of Biological Functional Systems -- The Reinforcement Learning Theory, Value Function, and the Nature of Value Function Calculation by the Insular Cortex -- To the Role of Inferior Olives in Cerebellar Neuromechanics -- Individual Differences in Mismatch-Induced c-Fos Expression in the Retrosplenial Cortex in Rats: Shift in Activity is Layer-Specific -- Sleep of Poor and Good Nappers under the Afternoon Exposure to Weak 2-Hz/8-Hz Electromagnetic Fields -- Part IV: Applications of Neural Networks -- Classification of Light Microscopy Image Using Probabilistic Bayesian Neural Network -- SPICE Model of Analog Content-Addressable Memory Based on 2G FeFET Crossbar -- IQ-GAN: Instance Quantized Image Synthesis -- Specifics of Crossbar Resistor Arrays -- Recurrent and Graph Neural Networksfor Particle Tracking at the BM@N Experiment -- Modeling of a Neural Network Algorithm for Suppressing Non-Stationary Interference in an Adaptive Antenna Array -- Learning Various Locomotion Skills from Scratch with Deep Reinforcement Learning -- Center3dAugNet: Effect of Rotation Representation on One-Stage Joint Car Detection and 6D-Pose Estimation -- Global memory transformer for processing long documents -- Development of the Convolutional Neural Network for Defining the Renal Pathology Using Computed Tomography Images -- Possibility of Using Various Architectures of Convolutional Neural Networks in the Problem of Determining the Type of Rhythm -- DeepPavlov Topics: Topic Classification Dataset for Conversational Domain in English -- Multi-Input Convolutional Neural Networks in Real-Time Semantic Segmentation Tasks -- Integration of Data and Algorithms in Solving Inverse Problems of Spectroscopy of Solutions by Machine Learning Methods -- Investigation of Pareto Front of Neural Network Approximation of Solution of Laplace Equation in Two Statements: with Discontinuous Initial Conditions or with Measurement Data? -- Multitask learning for extensive object description to improve scene understanding on monocular video -- Use of Classification Algorithms to Predict the Grade of Geomagnetic Disturbance -- Information processing in spiking neuron-astrocyte network in ageing -- Multilingual Case-insensitive Named Entity Recognition -- Multi-level Pipeline for Data Mining with Similar Structure -- Creating a Brief Review of Judicial Practice Using Clustering Methods -- Part V: Neural Network Theory, Concepts and Architectures -- "Gas” instead of ; “Liquid”: which Liquid State Machine is Better? -- Using a Resistor Array to Tackle Optimization Problems -- Generative Adversarial Networks as an Approach to Unsupervised Link Prediction Problem -- DGAC: Dialog Graph AutoConstruction up on Data with a Regular Structure -- Relay System of Differential Equations with Delay as a Perceptron Model -- Analysis of Predictive Capabilities of Adaptive Multilayer Models with Physics-Based Architecture for Duffing Oscillator? -- An Attempt to Formalize the Formulation of the Network Architecture Search Problem for Convolutional Neural Networks -- Use of Conditional Variational Autoencoders and Partial Least Squares in Solving an Inverse Problem of Spectroscopy -- On the Similarities between Denoising Diffusion Models and Autoencoders.
• Sommario/riassunto: This book describes new theories and applications of artificial neural networks, with a special focus on answering questions in neuroscience, biology and biophysics and cognitive research. It covers a wide range of methods and technologies, including deep neural networks, large-scale neural models, brain–computer interface, signal processing methods, as well as models of perception, studies on emotion recognition, self-organization and many more. The book includes both selected and invited papers presented at the XXIV International Conference on Neuroinformatics, held on October 17–21, 2022, in Moscow, Russia.