We discuss the quantum Lax-Phillips theory of scattering and unstable systems. In this framework, the decay of an unstable system is described by a semigroup. The spectrum of the generator of the semigroup corresponds to the singularities of the Lax-Phillips S-matrix. In the case of discrete (complex) spectrum of the generator of the semigroup, associated with resonances, the decay law is exact...

We forecast quarterly US in‡ation based on the generalized Phillips curve using econometric methods which incorporate dynamic model averaging. These methods not only allow for coe¢ cients to change over time, but also allow for the entire forecasting model to change over time. We …nd that dynamic model averaging leads to substantial forecasting improvements over simple benchmark regressions and...

shear modulus and damping ratio are important input parameters in dynamic analysis. a series of resonant column tests was carried out on pure clays and sand-clay mixtures prepared at different densities to investigate the effects of aggregate content, confining stress, void ratio and clay plasticity on the maximum shear modulus and minimum damping ratio. test results revealed an increase in the...

This paper argues that the Phillips curve–wage curve controversy cannot be settled within the conventional testing frameworks and suggests an alternative test, which builds on the model of Blanchard and Katz (1997). Using long macro data for the OECD countries, the evidence gives very strong support for the Phillips curve and indicates that wage behaviour is no different among the OECD countrie...

The debate over the Phillips Curve as the relation between level of unemployment rate and inflation rate in historical economics is shortly reviewed. By using the analysis in the Extreme Value Theory, i.e.: the rank order statistics the unemployment and inflation data over countries from various regions are observed. The calculations brought us to conjecture that there exists the general patter...