Publications
American protectionism has been reinvented in the name of “national security”. Yet, the belief that a country can achieve its own “nationally security” unilaterally is debatable.
Given the common monetary policy in Europe, term premia on bonds issued by different countries are an immediate gauge of the heterogeneity in the transmission mechanism of monetary policy in Europe and of the need for intervention to protect the Euro area against it.
The dynamics of nominal government bond yields at different maturities play a central role in shaping the response of the real economy to monetary and fiscal policy interventions. Yields can be decomposed into two unobservable components: the sequence of expected one-period rates and the term-premia.
So much international trade happens in dollars that it would be very difficult to turn the tide against the currency any time soon.
If Russia's invasion and assault on Ukraine can be unequivocally classified as aggression, then the response to this violation must also adhere to international legal standards.
A concise introduction into the workings of large language models is presented. We start with an introduction to the attention mechanism, the core of the transformer architecture, which is then followed by a discussion of the steps needed to engineer the base model, a generatively pretrained transfromers (GPT), to a working chatbot like ChatGPT.
“You can do some pretty impressive things with AI as a technological platform, but I am not necessarily an optimist because there are also some very negative paths that AI could take as a technology. We have a confluence of factors that make the negative use of this technology much more probable than positive use”, MIT economist Daron Acemoglu argues.
Il dibattito sulla riforma del Meccanismo Europeo di Stabilità (MES) - che l’Italia rimane l’unico Paese UE a non avere ratificato - è tornato al centro del dibattito politico italiano. All’interno della maggioranza di governo sembrano coesistere due linee di opposizione alla ratifica – una “ideologica” e una “strategica”. Entrambe sono fallaci.
