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Articles 6181 - 6210 of 8517
Full-Text Articles in Entire DC Network
Labor Unions And The Distribution Of Wages And Employment In South Africa, T. Paul Schultz, Germano Mwabu
Labor Unions And The Distribution Of Wages And Employment In South Africa, T. Paul Schultz, Germano Mwabu
Discussion Papers
No abstract provided.
Economic Growth, International Technological Spillovers And Public Policy: Theory And Empirical Evidence From Asia, Robert E. Evenson, Lakhwinder Singh
Economic Growth, International Technological Spillovers And Public Policy: Theory And Empirical Evidence From Asia, Robert E. Evenson, Lakhwinder Singh
Discussion Papers
No abstract provided.
Large Deviations And The Distribution Of Price Changes, Laurent Calvet, Adlai Fisher, Benoit Mandelbrot
Large Deviations And The Distribution Of Price Changes, Laurent Calvet, Adlai Fisher, Benoit Mandelbrot
Cowles Foundation Discussion Papers
The Multifractal Model of Asset Returns (“MMAR,” see Mandelbrot, Fisher, and Calvet, 1997) proposes a class of multifractal processes for the modelling of financial returns. In that paper, multifractal processes are defined by a scaling law for moments of the processes’ increments over finite time intervals. In the present paper, we discuss the local behavior of multifractal processes. We employ local Hölder exponents, a fundamental concept in real analysis that describes the local scaling properties of a realized path at any point in time. In contrast with the standard models of continuous time finance, multifractal processes contain a multiplicity of …
Multifractality Of Deutschemark/Us Dollar Exchange Rates, Adlai Fisher, Laurent Calvet, Benoit Mandelbrot
Multifractality Of Deutschemark/Us Dollar Exchange Rates, Adlai Fisher, Laurent Calvet, Benoit Mandelbrot
Cowles Foundation Discussion Papers
This paper presents the first empirical investigation of the Multifractal Model of Asset Returns (“MMAR”). The MMAR, developed in Mandelbrot, Fisher, and Calvet (1997), is an alternative to ARCH-type representations for modelling temporal heterogeneity in financial returns. Typically, researchers introduce temporal heterogeneity through time-varying conditional second moments in a discrete time framework. Multifractality introduces a new source of heterogeneity through time-varying local regularity in the price path. The concept of local Hölder exponent describes local regularity. Multifractal processes bridge the gap between locally Gaussian (Itô) diffusions and jump-diffusions by allowing a multiplicity of Hölder exponents. This paper investigates multifractality in …
Labor Market Dynamics In Russia, Mark C. Foley
Labor Market Dynamics In Russia, Mark C. Foley
Discussion Papers
No abstract provided.
Determinants Of Unemployment Duration In Russia, Mark C. Foley
Determinants Of Unemployment Duration In Russia, Mark C. Foley
Discussion Papers
No abstract provided.
Multiple Job Holding In Russia During Economic Transition, Mark C. Foley
Multiple Job Holding In Russia During Economic Transition, Mark C. Foley
Discussion Papers
No abstract provided.
Simple Counterexample To The Bootstrap, Donald W.K. Andrews
Simple Counterexample To The Bootstrap, Donald W.K. Andrews
Cowles Foundation Discussion Papers
The bootstrap of the maximum likelihood estimator of the mean of a sample of iid normal random variables with mean µ and variance one is not asymptotically correct to first order when the mean is restricted to be nonnegative. The problem occurs when the true value of the mean µ equals zero. This counterexample to the bootstrap generalizes to a wide variety of estimation problems in which the true parameter may be on the boundary of the parameter space. We provide some alternatives to the bootstrap that are asymptotically correct to first order. We consider two types of bootstrap percentile …
Y2k And Federal Reserve Readiness, Edward Kelley
Protocol (No 18) On The Statute Of The European System Of Central Banks And Of The European Central Bank, European Union
Protocol (No 18) On The Statute Of The European System Of Central Banks And Of The European Central Bank, European Union
Documents
Protocol annexed to the Treaty on European Union authorizing the ECSB; article 18 authorizes the ECB and national central banks to undertake open-market operations including repurchase agreements and lending.
Model Selection In Partially Nonstationary Vector Autoregressive Processes With Reduced Rank Structure, John C. Chao, Peter C.B. Phillips
Model Selection In Partially Nonstationary Vector Autoregressive Processes With Reduced Rank Structure, John C. Chao, Peter C.B. Phillips
Cowles Foundation Discussion Papers
The current practice for determining the number of cointegrating vectors, or the cointegrating rank, in a vector autoregression (VAR) requires the investigator to perform a sequence of cointegration tests. However, as was shown in Johansen (1992), this type of sequential procedure does not lead to consistent estimation of the cointegrating rank. Moreover, these methods take as given the correct specification of the lag order of the VAR, though in actual applications the true lag length is rarely known, Simulation studies by Toda and Phillips (1994) and Chao (1993), on the other hand, have shown that test performance of these procedures …
Treasury And Federal Reserve Foreign Exchange Operations (January 1997- March 1997), Federal Reserve System: Federal Reserve Bank Of New York
Treasury And Federal Reserve Foreign Exchange Operations (January 1997- March 1997), Federal Reserve System: Federal Reserve Bank Of New York
Documents
No abstract provided.
Eighty-Third Annual Report Of The Board Of Governors Of The Federal Reserve System 1996, Federal Reserve Board Of Governors (Frb)
Eighty-Third Annual Report Of The Board Of Governors Of The Federal Reserve System 1996, Federal Reserve Board Of Governors (Frb)
Documents
No abstract provided.
Testimony By Former Member Of The Federal Reserve Board Of Governors Alan Greespan, Before The Committee On Banking And Financial Services, Alan Greenspan
Testimony By Former Member Of The Federal Reserve Board Of Governors Alan Greespan, Before The Committee On Banking And Financial Services, Alan Greenspan
Documents
No abstract provided.
Beyond The Cpi: An Augmented Cost Of Living Index (Acoli), William D. Nordhaus
Beyond The Cpi: An Augmented Cost Of Living Index (Acoli), William D. Nordhaus
Cowles Foundation Discussion Papers
This note examines the question of calculating an augmented cost of living index (ACOLI). The ACOLI is the appropriate deflator to apply to pretax market incomes when calculating economic well-being. Well-being includes, not only conventional consumer purchases, but also goods and services provided by employers, by mandated social regulations, and by tax-financed public goods. Because such augmented consumption is often provided in ways that raise prices but not market incomes, deflating with conventional price indexes may understate real income growth. An application of the ACOLI approach to the United States during the 1960-1994 period indicates that the conventional consumer price …
Current Legal Issues Affecting Central Banks, Volume Iv., Robert C. Effros
Current Legal Issues Affecting Central Banks, Volume Iv., Robert C. Effros
Documents
No abstract provided.
Nota Bene; Volume Xi, Number Ii, Yale University Library
Nota Bene; Volume Xi, Number Ii, Yale University Library
Nota Bene
Nota Bene is published during the academic year to acquaint the Yale community and others with the resources of the Yale Library.
Report And Recommendation Of The President Of The International Development Association To The Executive Directors On A Prposed Credit Of Sdr 7.2 To Mongolia, World Bank/World Bank Group
Report And Recommendation Of The President Of The International Development Association To The Executive Directors On A Prposed Credit Of Sdr 7.2 To Mongolia, World Bank/World Bank Group
Documents
No abstract provided.
Directive 97/9/Ec Of The European Parliament And Of The Council Of 3 March 1997 On Investor-Compensation Schemes, European Union: Parliament And European Union Council
Directive 97/9/Ec Of The European Parliament And Of The Council Of 3 March 1997 On Investor-Compensation Schemes, European Union: Parliament And European Union Council
Documents
No abstract provided.
Some Higher Order Theory For A Consistent Nonparametric Model Specification Test, Yanqin Fan, Oliver B. Linton
Some Higher Order Theory For A Consistent Nonparametric Model Specification Test, Yanqin Fan, Oliver B. Linton
Cowles Foundation Discussion Papers
We provide second order theory for a smoothing-based model specification test. We derive the asymptotic cumulants and justify an Edgeworth distributional approximation valid to order close to n -1 . This is used to define size-corrected critical values whose null rejection frequency improves on the normal critical values. Our simulations confirm the efficacy of this method in moderate sized samples
Effects Of Tamoxifen On Prostaglandin E2 Induced Insulin-Like Growth Factor I Expression In Fetal Rat Osteoblasts, Kristina A. Crothers
Effects Of Tamoxifen On Prostaglandin E2 Induced Insulin-Like Growth Factor I Expression In Fetal Rat Osteoblasts, Kristina A. Crothers
Yale Medicine Thesis Digital Library
No abstract provided.
The Steady Flow Between Reservoirs With Different Density And Level Through A Contraction, A. Odulo, J. C. Swanson, D. Mendelsohn
The Steady Flow Between Reservoirs With Different Density And Level Through A Contraction, A. Odulo, J. C. Swanson, D. Mendelsohn
Journal of Marine Research
This paper presents a complete analytical solution of steady gravity flow between two reservoirs connected by a channel of slowly varying breadth and containing fluids of different densities and levels. The hydrostatic approximation is used and dissipation is neglected. It is shown that seven different regimes are possible depending on the value of the parameter δ = γ/ε, which is the ratio of relative lighter and denser reservoir level difference, γ, to positive relative density difference, ε. The exact solution of the problem is obtained for all these regimes. If the level of the heavier fluid reservoir is higher than …
Eigenanalysis Of The Two-Dimensional Wind-Driven Ocean Circulation Problem, V. A. Sheremet, G. R. Ierley, V. M. Kamenkovich
Eigenanalysis Of The Two-Dimensional Wind-Driven Ocean Circulation Problem, V. A. Sheremet, G. R. Ierley, V. M. Kamenkovich
Journal of Marine Research
A barotropic model of the wind-driven circulation in the subtropical region of the ocean is considered. A no-slip condition is specified at the coasts and slip at the fluid boundaries. Solutions are governed by two parameters: inertial boundary-layer width; and viscous boundary-layer width. Numerical computations indicate the existence of a wedge-shaped region in this two-dimensional parameter space, where three steady solutions coexist. The structure of the steady solution can be of three types: boundary-layer, recirculation and basin-filling-gyre. Compared to the case with slip conditions (Ierley and Sheremet, 1995) in the no-slip case the wedge-shaped region is displaced to higher Reynolds …
Mechanisms Of Infaunal Polychaete Dispersal And Colonization In An Intertidal Sandflat, David H. Shull
Mechanisms Of Infaunal Polychaete Dispersal And Colonization In An Intertidal Sandflat, David H. Shull
Journal of Marine Research
Changes in benthic infaunal population densities following disturbance may be influenced by colonization mechanisms. Accordingly, this study experimentally examined the relative importance of four colonization mechanisms for seven numerically dominant polychaete species in an intertidal estuarine sandflat in Connecticut, USA. The colonization mechanism an organism used depended upon species characteristics including larval developmental mode and depth distribution within the sediment. A spionid polychaete with planktonic larval development, Polydora cornuta, colonized experimental disturbance treatments primarily by larval settlement. A surface-dwelling syllid polychaete with nonplanktonic development, Streptosyllis arenae, colonized mainly by bedload transport. Two syllid polychaetes developmentally and morphologically similar …
Analysis Of The Mean Annual Cycle Of The Dissolved Oxygen Anomaly In The World Ocean, Raymond G. Najjar, Ralph F. Keeling
Analysis Of The Mean Annual Cycle Of The Dissolved Oxygen Anomaly In The World Ocean, Raymond G. Najjar, Ralph F. Keeling
Journal of Marine Research
A global climatology of the dissolved oxygen anomaly (the excess over saturation) is created with monthly resolution in the upper 500 m of the ocean. The climatology is based on dissolved oxygen, temperature and salinity data archived at the National Oceanographic Data Center. Examination of this climatology reveals statistically significant annual cycles throughout the upper 500 m of the World Ocean, though seasonal variations are most coherent in the North Atlantic, where data density is greatest. Vertical trends in the phase and amplitude of the annual cycle are noted. The cycle in surface waters is characterized by a summer maximum …
Describing Additional Fluxes To Deep Sediment Traps And Water-Column Decay In A Coastal Environment, David A. Timothy, Stephen Pond
Describing Additional Fluxes To Deep Sediment Traps And Water-Column Decay In A Coastal Environment, David A. Timothy, Stephen Pond
Journal of Marine Research
Sediment traps were moored at three stations in Sechelt Inlet, a fjord in southern British Columbia, Canada, for five one-month deployment periods from late January to late June, 1991. On each mooring were traps at three depths; total and constituent fluxes often increased with depth. We present the flux data and describe an analytical model that is based on a set of simultaneous equations for which two unknowns are the decay rate of material representatively caught by two vertically-separated sediment traps and the composition of material causing observed increases in flux with depth. The unknowns are solved in a least-squares …
Estimation Of Vertical Mixing In The Upper Ocean At Station P From Chlorofluorcarbons, R. J. Matear, C. S. Wong
Estimation Of Vertical Mixing In The Upper Ocean At Station P From Chlorofluorcarbons, R. J. Matear, C. S. Wong
Journal of Marine Research
Vertical mixing (Kv) in the upper ocean is estimated from chlorofluorocarbons (CFC's) F-11 and F-12 data collected on 5 cruises (1982, 1985, 1992, 1993, 1995) near Station P (50N, 145W). A one-dimensional advection-diffusion model was fitted to the data from each cruise to estimate vertical mixing (Kv) and upwelling velocity (w). With constant Kv and w, the average value of Kv and w was 0.4 ± 0.1 cm2 s−1 and 1.2 ± 0.4 m yr−1 respectively for the depth range 0–900 m below the base of …
Effect Of A Freshwater Pulse On Mesoscale Circulation And Phytoplankton Distribution In The Lower St. Lawrence Estuary, Claude Savenkoff, Alain F. Vézina, Yves Gratton
Effect Of A Freshwater Pulse On Mesoscale Circulation And Phytoplankton Distribution In The Lower St. Lawrence Estuary, Claude Savenkoff, Alain F. Vézina, Yves Gratton
Journal of Marine Research
As part of a multidisciplinary program to study the physical-biological interactions regulating carbon flows in the lower St. Lawrence Estuary (LSLE), three cruises were conducted in June–July 1990 during a neap-spring tidal cycle when biological production was expected to be maximal. Nutrient (nitrates and silicates), phytoplankton biomass (chlorophyll), oxygen, temperature, salinity, and current fields were used to elucidate the effect of a freshwater pulse produced by the discharge of the St. Lawrence and Saguenay rivers on the current fields and the biological variability and productivity of the LSLE. A simple Rossby adjustment model is presented to explain the temporal (3–5 …
On The Eddy Transfer Of Tracers: Advective Or Diffusive?, Mei-Man Lee, David P. Marshall, Richard G. Williams
On The Eddy Transfer Of Tracers: Advective Or Diffusive?, Mei-Man Lee, David P. Marshall, Richard G. Williams
Journal of Marine Research
Geostrophic eddies have traditionally been viewed within oceanography as diffusing water masses and tracers in a down-gradient manner. However, eddies also have an advective role that may lead to an up-gradient transfer of tracers, as has been recognized in atmospheric tracer studies and recent eddy parameterizations developed for the ocean. Eddies provide an advective transfer or “bolus” velocity through the secondary circulation formed by the slumping of density surfaces in baroclinic instability. Here we use an eddy-resolving isopycnal ocean model to investigate the meridional transfer across a zonal jet. The jet undergoes baroclinic instability, forming a vibrant eddy field and …
Rapid Subduction Of Organic Matter By Maldanid Polychaetes On The North Carolina Slope, L. Levin, N. Blair, D. Demaster, G. Plaia, W. Fornes, C. Martin, C. Thomas
Rapid Subduction Of Organic Matter By Maldanid Polychaetes On The North Carolina Slope, L. Levin, N. Blair, D. Demaster, G. Plaia, W. Fornes, C. Martin, C. Thomas
Journal of Marine Research
In situ tracer experiments conducted on the North Carolina continental slope reveal that tube-building worms (Polychaeta: Maldanidae) can, without ingestion, rapidly subduct freshly deposited, algal carbon (13C-labeled diatoms) and inorganic materials (slope sediment and glass beads) to depths of 10 cm or more in the sediment column. Transport over 1.5 days appears to be nonselective but spatially patchy, creating localized, deep hotspots. As a result of this transport, relatively fresh organic matter becomes available soon after deposition to deep-dwelling microbes and other infauna, and both aerobic and anaerobic processes may be enhanced. Comparison of tracer subduction with estimates …