This paper studies U.S. in‡ation adjustment speed to aggregate technology shocks and to monetary policy shocks in a medium size Bayesian VAR model. According to the model estimated on the 1959-2007 sample, in‡ation adjusts much faster to aggregate technology shocks than to monetary policy shocks. These results are robust to di¤erent identi…cation assumptions and measures of aggregate prices. Ho...

learners of English Sylvain Chevalier Saybot In . Shanghai, China sylvain saybot. om Abstra t Saybot is a software appli ation whi h uses spee h proessing te hnology to help users pra ti e spoken English. It is a ommer ial appli ation available sin e O tober 2005 in China with mu h ontent designed for learners of many different pro les. In this paper, we present the strategy used and dis uss it...

Although there have been a very limited number of cases of defl ation in a developed country, one such case occurred in the United States during the Great Depression in the 1930s, where an annualized 7% price plunge was observed. Compared to this, the present defl ation in Japan can be considered as a moderate price decline continuing over a very long period. The fact that defl ation has not be...

This paper examines the extent to which a decline in market power could have contributed to the general decline in inflation rates experienced in developed countries during the 1990s. *Staff economist of the Division of International Finance of the Federal Reserve Board. Email: [email protected]. I wish to thank Jon Faust, Steve Kamin, and Jeremy Rudd for valuable comments. This paper repr...

Cross country studies of in‡ation di¤erentials, and in particular in the EMU, have focused on three main explanations: (i) the role of tradable and nontradable sector productivity growth di¤erentials and the BalassaSamuelson e¤ect, (ii) the role of the demand-side e¤ects, and (iii) heterogeneity of in‡ationary processes inside the EMU. To understand the role played by each feature in shaping in...

Given a olle tion of boolean spatial features, the o-lo ation pattern dis overy pro ess nds the subsets of features frequently lo ated together. For example, the analysis of an e ology dataset may reveal the frequent o-lo ation of a re ignition sour e feature with a needle vegetation type feature and a drought feature. The spatial o-lo ation rule problem is di erent from the asso iation rule pr...

When sequentially separating a linear combination of co-channel digital signals, it is necessary at each step to test the validity of the currently estimated signal prior to proceeding to extract the next one. We describe a procedure for use with sequential algorithms which uses a de ation-based approach combined with a simple test statistic. The de ation step removes the contributions of the c...

Soil evaporation can signifi cantly infl uence energy fl ux partitioning of partially vegetated surfaces, ultimately affecting plant transpiration. While important, quantifi cation of soil evaporation, separately from canopy transpiration, is challenging. Techniques for measuring soil evaporation exist and continually improve. The large variability in soil water content requires that there be c...