I estimate a no-arbitrage model of the term structure of money market spreads during the financial crisis to attribute movements in spreads to credit and liquidity factors. The model restrictions imply that longer-term spreads are linear, risk-adjusted expectations of future short-term spreads. This linear representation of spreads can be partitioned into two components: one related to time-var...

We decompose the term structure of expected equity returns into (1) the real short rate, (2) a premium for holding real long-term bonds, or the real duration premium, the excess returns of nominal long-term bonds over real bonds which reflects (3) expected inflation and (4) inflation risk, and (5) a real cashflow risk premium, which is the excess return of equity over nominal bonds. The shape o...

From long-term photometry of a VY Scl-type star, V425 Cas, between 1998 and 2000, we discovered a short-term, large-amplitude (up to 1.5 mag) variations. The variation was well represented by a single period of 2.65 d. The large amplitude and the profile of the folded light curve suggest that the dwarf nova-type disk instability is responsible for this variation. The shortness of the period is ...

The present study focuses on the functional interactions of cognition and manual action control. Particularly, we investigated the neurophysiological correlates of the dual-task costs of a manual-motor task (requiring grasping an object, holding it, and subsequently placing it on a target) for working memory (WM) domains (verbal and visuospatial) and processes (encoding and retrieval). Thirty p...

Previous research suggested that working memory (WM) does not play any significant role in visual search. In three experiments, we investigated the search difficulty and individual differences in WM capacity as determinants of WM involvement during visual search tasks, using both behavioral and electrophysiological markers [i.e., the contralateral delay activity (CDA), which is a marker for WM ...

We describe and evaluate a recall reconstruction hypothesis for working memory (WM), according to which items can be recovered from multiple memory representations. Across four experiments, participants recalled memoranda that were either integrated with or independent of the sentence content. We found consistently longer pauses accompanying the correct recall of integrated compared with indepe...

A well-known characteristic of working memory (WM) is its limited capacity. The source of such limitations, however, is a continued point of debate. Developmental research is positioned to address this debate by jointly identifying the source(s) of limitations and the mechanism(s) underlying capacity increases. Here we provide a cross-domain survey of studies and theories of WM capacity develop...

Previous studies have shown that working memory (WM) plays an important role in selective attention, sothat high WM load leads to inefficient distractor inhibition, in comparison with low WM load. In the present study, we examined the effect of WM on distractor processing while the extent of attentional focus was held constant. Our results show that WM load affected distractor processing only w...

Dual-task costs depend on the specific pairings of stimulus and response modalities. Such findings are analogous to domain-specific effects in the working memory (WM) literature, in which items compete for limited capacity when they involve related types of information. The present study explicitly examines the relationship between modality-pairing effects on dual-task costs and domain-specific...

Long Short-Term Memory networks (LSTMs) can be trained to realize inverse control of physics-based sound synthesizers. Physics-based sound synthesizers simulate the laws of physics to produce output sound according to input gesture signals. When a user’s gestures are measured in real time, she or he can use them to control physics-based sound synthesizers, thereby creating simulated virtual ins...