Libera Università Internazionale degli Studi Sociali Guido Carli

About: Libera Università Internazionale degli Studi Sociali Guido Carli is a education organization based out in Rome, Lazio, Italy. It is known for research contribution in the topics: Politics & Monetary policy. The organization has 692 authors who have published 2493 publications receiving 36411 citations. The organization is also known as: Libera Universita Internazionale degli Studi Sociali Guido Carli & Libera Università Internazionale degli Studi Sociali "Guido Carli".

Exponential distance-based fuzzy clustering for interval-valued data

Abstract: In several real life and research situations data are collected in the form of intervals, the so called interval-valued data. In this paper a fuzzy clustering method to analyse interval-valued data is presented. In particular, we address the problem of interval-valued data corrupted by outliers and noise. In order to cope with the presence of outliers we propose to employ a robust metric based on the exponential distance in the framework of the Fuzzy C-medoids clustering mode, the Fuzzy C-medoids clustering model for interval-valued data with exponential distance. The exponential distance assigns small weights to outliers and larger weights to those points that are more compact in the data set, thus neutralizing the effect of the presence of anomalous interval-valued data. Simulation results pertaining to the behaviour of the proposed approach as well as two empirical applications are provided in order to illustrate the practical usefulness of the proposed method.

Did infl ation really soar after the euro cash changeover? Indirect evidence from ATM withdrawals

Abstract: The introduction of the euro notes and coins in the first two months of 2002 was followed by a lively debate on the alleged inflationary effects of the new currency In Italy, as in the rest of the euro area, survey-based measures signaled a much sharper rise in inflation than measured by the official price indices, whose quality was called into question In this paper we gather indirect evidence on the behavior of prices from the analysis of cash withdrawals from ATM and their determinants Since these data do not rely on official inflation statistics, they provide an independent check for the latter We present a model in which the relationship between aggregate ATM withdrawals and aggregate expenditure is not homogenous of degree one in the price level, a prediction which is strongly supported by the data This feature allows us to test the hypothesis that, after the introduction of the euro notes and coins, consumer prices underwent an increase not recorded by official inflation statistics We do not find evidence in support of this hypothesis