Obituary–Deane K. Smith

JULIE K . SMITH Weighted Median Inflation : Is This Core Inflation ?

This paper investigates core inflation defined as the best predictor of inflation. I compare forecasts obtained using the mean, weighted median, trimmed mean, and less food and energy inflation rates for the consumer price index and the personal consumption expenditure deflator for the current U.S. monetary policy regime. Another issue addressed is that of the systematic bias that exists due to...

Theobald Smith

Smith was a pioneer epidemiologist, bacteriologist, and pathologist who made many contributions to medical science that were of far-reaching importance. He is best known for his work on Texas cattle fever, in which he and his colleagues discovered the protozoan agent and its means of transmission by ticks. This was the ¿ rst time that an arthropod had been de¿ nitively linked with the transmiss...

Kathryn Smith

In an open-ended contingent valuation (CV) survey, a respondent can state any non-negative valuation for a given good. As the set of possible responses is infinite, the GibbardSatterthwaite theorem implies that such a survey cannot be incentive-compatible. That is, participants in an open-ended CV survey have an incentive to increase their utility by misrepresenting their preferences. This natu...

Gregor Smith

In this study, Black, Macklem, and Rose thoroughly describe the outcomes when a wide range of reaction functions are set in CPAM, the Canadian Policy Analysis Model developed at the Bank of Canada. The reaction functions for monetary policy influence the short-term interest rate relative to the long-term rate. The analysis begins with the CPAM reaction function, which targets the expected diffe...

John Komlos und Patricia K . Smith und Barry Bogin : Obesity and the Rate