This paper proposes a new objective methodology to analyse the verbatim transcripts of central bank announcements. I apply a statistical method based on locally recurring word patterns, the descending hierarchical classification algorithm, to...

In Italy, in July 2003, a new highway code came into force. Among other things, it posits a “revolutionary” point-system driving licence. This paper analyses optimal punishment schemes and shows that a simpler policy intervention, such as a dynamic...