their expectations accordingly. Because the policymaker has the power to create inflation shocks ex post, the equilibrium growth rates of money and prices turn out to be higher than otherwise. Therefore, enforced commitments (rules) for monetary behavior can improve matters. Given the repeated interaction between

Inflation targeting is shown to imply inflation forecast targeting: the central bank's inflation forecast becomes an explicit intermediate target. Inflation forecast targeting simplifies both implementation and monitoring of monetary policy. The weight on output stabilization determines how

Abstract This paper presents a Downsian model of political competition in which parties have incomplete but richer information than voters on policy effects. Each party can observe a private signal of the policy effects, while voters cannot. In this setting, voters infer the policy effects from

Many different approaches have been applied to constraint satisfaction. These range from complete backtracking algorithms to sophisticated distributed configurations. However, most research effort in the field of constraint satisfaction algorithms has concentrated on the use of a single algorithm

understandable programs. Multilisp is being implemented on the 32-processor Concert multiprocessor; however, it is ulti-mately intended for use on larger multiprocessors. The current implementation, called Concert Multilisp, is complete enough to run the Multilisp compiler itself and has been run on Concert

This paper presents evidence showing that individuals' season of birth is related to their educational attainment because of the combined effects of school start age policy and compulsory school attendance laws. In most school districts, individuals born in the beginning of the year start

under government sponsorship are encouraged to express their own judgment freely, this report does not necessarily represent the official opinion or policy of the government. redesign are not fully adequate to meet the problems encountered in their application. Especially troublesome is the paucity

this through the use of a virtual machine monitor. Using this approach allows us to isolate the IDS from the monitored host but still retain excellent visibility into the host's state. The VMM also offers us the unique ability to completely mediate interactions between the host software and the underlying

a more complete characterization of their accounting incentive effects than earlier studies. The test results suggest that (1) accrual policies of managers are related to income-reporting incentives of their bonus contracts, and (2) changes in accounting procedures by managers are associated

Work organizations offer a person far more than merely.a job. Indeed, from the time individuals first enter a workplace to the time they leave their member-ship behind, they experience and often.commit themselves to a distinct way of life complete with its own rhythms, rewards, relationships