the calibration curve revisited

... to the selection of the smoothness parameter in the HodrickPrescott filter (Gordon, 1997) The volatility of the NAIRU is determined by the signal-tonoise ratio: σ /σ The larger the ratio, the ... the unemployed based on the length of their unemployment spell These weights are a measure of the impact that the unemployed have on prices This deviates from the standard practice of using the ... critical values, the null hypothesis is soundly rejected for all the countries in the sample except for Denmark (rejected at the 5% level) Therefore, the results confirm that the change in inflation...

Ngày tải lên: 24/10/2012, 09:11

Ngày tải lên: 05/01/2014, 14:06

... a n d The Model The Model +1 +1 where and +1 the nominal interest rate and the superscript denote u +1 +1 +1 with 1 where we set its standard deviation to The Model the output gap we use the unemployment ... analysed in the literature The literature on the relationship between central bank Introduction New Keynesian model with learning to show that publishing the interest rate path lowers the On technical ... that the variability 1 2 + + + + =0 For our model we assume =4 and higher than the weight on interest rate variability omitting these elements we are likely erring on the upside when assessing the...

Ngày tải lên: 06/03/2014, 02:21

... completely The other alternative is for banks to issue their debt instruments to the government rather than to the private sector This option is considered in the government versions of the plan ... course they are completely in charge of choosing the allocation of that credit There is therefore nothing in the monetary arrangements of the Chicago Plan that interferes with the ability of the ... but, unlike at the time of the Chicago Plan in the 1930s, the majority of U.S government debt is nowadays held outside the banking system We therefore calibrate the model so that the domestic financial...

Ngày tải lên: 29/03/2014, 08:20

Ngày tải lên: 02/04/2014, 14:39

... feeding and the shape of the lactation curve Adjusting the feeding strategy in the first part of lactation may thus optimize the shape of the lactation curve and thereby shorten the time to conception ... between the time of conception and the shape of the lactation curve does indeed exist Plotting daily milk records obtained from the automatic milking system, the shape of the lactation curve might ... all Norwegian dairy cows [1] The lactation curve in dairy cattle describes the pattern of milk yield throughout the lactation period The shape of this curve and the factors influencing it have...

Ngày tải lên: 12/08/2014, 18:22

... Bending the cost curve: a critical component of health care reform JAMA 2009, 302:1223-1224 doi:10.1186/cc9045 Cite this article as: Ghaferi AA: Bending the cost curve in the United States: the role ... medical homes are emerging [6] These concepts rest on the notion that, in order to begin bending the cost curve, hospital and physician behaviors must be affected The most prudent strategy to achieve ... homes could serve as the lever for accountability, both financial and in the quality of care delivered Research, such as Opmeer and colleagues’ study, can serve to further inform the nuts and bolts...

Ngày tải lên: 13/08/2014, 20:22

... growth curve to the records and analyse the parameters of the growth curve as new traits Recently, there has been a great interest in random coefficient models [22] for the analysis of such data These ... of the Maine-Anjou breed and are presented in the section “Materials and methods” The methods section encompasses models, estimation procedures and tests of hypotheses Then, the results of the ... season For each performance of an animal, the weight, the age at weighting, the calving parity of the mother and the birth status (single vs twin) were recorded These variables are presented in Table...

Ngày tải lên: 14/08/2014, 13:21

... or below the mean To compute the z-score, the EIU first calculated each indicator’s mean and standard deviation using the data for the countries in the Index, and then the distance of the observation ... for the results to help set the editorial agenda for The Learning Curve programme The EIU was aided by an Advisory Panel of education experts from around the world The Panel was consulted on the ... selection to the original 2012 Index was based on whether a country was a ‘comprehensive-data’ country within the The Learning Curve Data Bank (please see the Appendix of The 2012 Learning Curve report...

Ngày tải lên: 04/12/2015, 00:17

... or below the mean To compute the z-score, the EIU first calculated each indicator’s mean and standard deviation using the data for the countries in the Index, and then the distance of the observation ... in the Index for which internationally comparable graduation data are lacking (The countries were nonetheless included in the Index because they met all the other data inclusion criteria.) They ... the Quantitative Component of The Learning Curve Appendix 1: Methodology for the Quantitative Component of The Learning Curve As part of The Learning Curve programme, the Economist Intelligence...

Ngày tải lên: 04/12/2015, 00:17

... information to the Board, but it’s difficult for them to sort the wood from the trees GRC gives you the ability to take the components and bring them together to gain a better overview of where the organisation ... director for the finance and performance management line at 12 Accenture “Whereas, if they spend less time on these activities, then they can focus on their competitive position, their sales and their ... arise from their businesses The idea is not to tell them what to do, but rather to enable them to manage and mitigate the risks within their own processes l Join business owners at the idea stage...

Ngày tải lên: 06/12/2015, 23:06

... center sponsored by the Office of the Secretary of Defense, the Joint Staff, the Unified Combatant Commands, the Department of the Navy, the Marine Corps, the defense agencies, and the defense Intelligence ... development center sponsored by the OSD, the Joint Staff, the Unified Combatant Commands, the Department of the Navy, the Marine Corps, the defense agencies, and the defense Intelligence Community ... encompass within their boundaries Their demands on the person are omnivorous.” Introduction desired by employers and the wages they are willing to offer; the supply function represents the relationship...

Ngày tải lên: 17/02/2014, 23:20

... be used to calibrate further products, similarly to the way the α parameters of the r model are used to calibrate cap prices after calibration of the zero-coupon curve in the interest rate market ... the attractive feature of the model is the separate and semi-automatic calibration of the interest-rate part to interest-rate data and of the intensity part to credit market data Indeed, in the ... of rt We omit the argument α when clear from the context The cap option price formula for the CIR++ model can be derived easily in closed form from the corresponding formula for the basic CIR...

Ngày tải lên: 06/03/2014, 04:21

... liabilities — possibly the outcome of a previous iteration of the game The level of the risk free interest rate is then set by the central bank in the first stage During the second stage, banks, ... demanded by the system In the case where reserves are remunerated at the market rate, they become a close substitute for other short-term liquid assets and the amount of reserves in the system ... in the examples of Japan and the United Kingdom above.2 Consider two scenarios involving the purchase of an asset by the central bank In one case, the purchase is financed by reserves In the other,...

Ngày tải lên: 06/03/2014, 10:20

... with the EKC model due to the limitations of the theory and the assumptions incorporated in it In terms of the shape of the EKC, debates and further studies have shown other variations from the ... resulting in the inverse-U shaped curve The Cubic part is there only to provide for a more accurate measure of the relationship If indeed there is a U-shaped curve, β3 will have the same negative ... possible reasons for the relationship as well as recommend policies for the care of the environment 3 | P a g e     C Statement of the Hypothesis According to the Environmental Kuznets Curve (EKC): At...

Ngày tải lên: 06/03/2014, 16:20

... countries, none of the pollutants examined in the literature fulfills the EKC hypothesis unequivocally (Ekins, 1997) Many authors affirm that the EKC hypothesis could only be fulfilled in the case of ... incentives to improve the environment to the extent that they themselves are affected by this degradation, but this is not the case when these effects move in time or space to other citizens (Arrow ... generated by the linear combination of the variables included in the model had to be checked, i.e to contrast the co-integration of the variables The conclusion we drew was that the four series...

Ngày tải lên: 15/03/2014, 16:20

... features Following the boot-strapping principle, we are starting with 750 genus verbs in the defining word list of LDOCE, then gradually expanding them to all the verbs defined in LDOCE There are various ... connectionist models From the prototypes, naive theories may be formed, and then converted into representations in the default layer Dynamic creation of Cases Initial representations in the context layer ... layer forms an initial representation of the c o n t e x t layer, its further development mainly depends on task, contextual needs and personal belief systems The initial representation is a tuple...

Ngày tải lên: 17/03/2014, 08:20

Ngày tải lên: 28/03/2014, 13:20

... be the angle along the equator ζ from the x-axis to the upward intersection point X(−θ) If we denote the matrix corresponding to a rotation by an angle α around the x axis by Rx (α), etc then the ... γ is the Gauss curvature of the surface evaluated along the curve) the maximum principle implies that one has the following lower estimate for the lifetime of any solution If T (γ0 ) ≤ then (19) ... the distance from P to Q along the curve γt 3.3 The nature of singularities in curve shortening Consider a solution {γ(t) : ≤ t < T } of curve shortening with T = T (γ0 ) < ∞ Then, as t T, the...

Ngày tải lên: 29/03/2014, 07:20