W. Semmler – författare

The emergence of a new macro economy in Euro-Asia is a great challenge for academics and policy makers alike. Our book focuses on this macro economy and the monetary and fiscal policy responses. As the new environment has evolved over time, private behaviour as well as policy responses have changed. Policy makers as well as private agents had to learn the new environment. In our book we thus put heavy emphasis on uncertainty and learning. The first part of the book explores monetary policies allowing for uncertainty and time-varying behaviour of economic agents in markets, in particular in the labour market and the monetary policy responses to it. We study both forward and backward looking behaviour, learning and robust control as well as the role of financial markets for policies. The second part explores fiscal policy in the Euro-area, its sustainability, its effects on economic growth and the attempts of the Euro-area to stabilize the public debt. The third part explores monetary and fiscal policy interactions in the Euro-area countries. Since there are many national fiscal authorities but only one monetary authority this is a particularly challenging problem of Euro-area countries. Methodologically, we use modern methods such as advanced econometric methodology, learning models that allows to study time varying behaviour, and dynamic macro modelling and dynamic optimization.

New developments in the field of high resolution imaging focus on functional parameters pertaining to disease-specific medical imaging. Such new diagnostic strategies are possible using scintigraphic techniques and, more recently, by MRI and US. In addition, new therapeutic concepts, including gene therapy, require specific tracers or contrast media for therapy monitoring, for example, enzyme activity and changes in receptor expression. For this purpose scientists conducting basic research, expecially molecular biologists, and clinicians must collaborate in order to exploit the available interdisciplinary knowledge in the development of new imaging technologies so as to incorporate the molecular signals of diseases.