I embed the pricing model proposed by Dixon and Kara (2011a, b) (i.e. a Generalized Taylor Economy (GTE)) into a state of the art instance of New Keynesian economics (e.g. Christiano, Eichenbaum and Evans (2005) and Smets and Wouters (2007)). The GTE is built to account for one of the most important features of the data: heterogeneity in price spells. I estimate the resulting model for the US u...

Due to its static nature, the inference capability of Bayesian Networks (BNs) often deteriorates when the basis of input data varies, especially in video processing applications where the environment often changes constantly. This paper presents an adaptive BN where the network parameters are adjusted in accordance to input variations. An efficient re-training method is introduced for updating ...

We study the algebraic varieties defined by the conditional independence statements of Bayesian networks. A complete algebraic classification is given for Bayesian networks on at most five random variables. Hidden variables are related to the geometry of higher secant varieties.

Use of risk adjusted control charts for monitoring patients’ surgical outcomes is now popular.These charts are developed based on considering the patient’s pre-operation risks. Change point detection is a crucial problem in statistical process control (SPC).It helpsthe managers toanalyzeroot causes of out-of-control conditions more effectively. Since the control chart signals do not necessarily...

Partial differential equation (PDE) models are commonly used to model complex dynamic systems in applied sciences such as biology and finance. The forms of these PDE models are usually proposed by experts based on their prior knowledge and understanding of the dynamic system. Parameters in PDE models often have interesting scientific interpretations, but their values are often unknown, and need...