House prices are of special importance for monetary policy since their sudden falls are usually associated with credit crunch followed by long-lasting and painful recessions. Despite several spectacular episodes of such events, each time house prices exhibit long-lasting growth trend with little volatility around it, it is argued that this pattern is a “new normal”. This paper shows that a central bank following this view would increase the volatility of inflation and output as compared to a policy that assumes high volatility of house prices. In the former case the monetary authority would conduct too accommodative monetary policy during abrupt house price expansions significantly increasing output and inflation fluctuations. In the latter situation, in turn, the policy would work well irrespective of the realized house price volatility.

The application of stone column technique for improvement of soft soils has attracted a considerable attention during the last decade. However, in a very soft soil, the stone columns undergo excessive bulging, because of very low lateral confinement pressure provided by the surrounding soil. The performance of stone column can be improved by the encapsulation of stone column by geosynthetic, which acts to provide additional confinement to columns, preventing excessive bulging and column failure. In the present study, a detailed experimental study on behavior of single column is carried out by varying parameters like diameter of the stone column, length of stone column, length of geosynthetic encapsulation and stiffness of encapsulation material. In addition, finite-element analyses have been performed to access the radial deformation of stone column. The results indicate a remarkable increase in load carrying capacity due to encapsulation. The load carrying capacity of column depends very much upon the diameter of the stone column and stiffness of encapsulation material. The results show that partial encapsulation over top half of the column and fully encapsulated floating column of half the length of clay bed thickness give lower load carrying capacity than fully encapsulated end bearing column. In addition, radial deformation of stone column decreases with increasing stiffness of encapsulation material.

This article attempts to formulate a new interpretation of the mysterious messianic character marked "Forty and Four" from the Vision of Priest Piotr in Adam Mickiewicz's poetic drama Dziady ( Forefathers' Eve), Part III. After a review of earlier readings of this crux and its symbolism, the author of the article presents his own proposal, which contextualizes the enigmatic number in three historical frameworks. The first of them is ancient history, and, more specifically, 'Forty four' is seen as a reference to the Ides of March in 44 B.C., the date on which Julius Caesar was assassinated by a group of conspirators led by Brutus. The other two relevant contexts are the Reign of Terror during the French Revolution, and the high tides of modern history culminating in tyrannicide. In effect, the 'Forty four' passage is seen as an affirmation or even a sacralization of tyrannicide, symbolized by not only by inexplicit references to Brutus and the Israelite heroine Judith. It is a theme which reverberates not only in Dziady but also throughout Adam Mickiewicz's work.