THIS PAPER IS ELIGIBLE FOR THE STUDENT PAPER AWARD. In this work we present a flexible, probabilistic and reference-free method of error correction for high throughput DNA sequencing data. The key is to exploit the high coverage of sequencing data and model short sequence outputs as independent realizations of a Hidden Markov Model (HMM). We pose the problem of error correction of reads as one ...

Traffic models are meant to provision the increasing load of packet switched traffic in a 3G network .In this paper, we present Forward Error Correction (FEC) as a technique used for optimizing a 3G mobile network.Here, Packet Error Probability (PEP) model without Forward Error Correction, depicting the existing system and Packet Error Probability (PEP) with Forward Error Correction are simulat...

The paper analyses the relationship between shadow economy and unemployment rates using a Structural VAR approach for quarterly data during the period 2000-2010. The size of Romanian shadow economy is estimated using the currency demand approach based on VECM models, stating that its size is decreasing over the analyzed period, from 36.5% at the end of 2000 to about 31.5% of real GDP at the mid...

One important issue of exchange rate pass-through is the extent to which exchange rate changes affect the prices. This paper studied the pass-through effect of movements in the RMB nominal exchange rate on consumer prices. In particular, we examined whether the exchange rate pass-through to consumer prices was complete or not, and the impact of exchange rate system reform had on the pass-throug...

We reconsider the issue of price discovery in spot and futures markets. We use a threshold error correction model to allow for arbitrage opportunities to have an impact on the return dynamics. We estimate the model using quote midpoints, and we modify the model to account for time-varying transaction costs. We find that a) the futures market leads in the process of price discovery and that b) t...

This paper contributes to the analysis of the money supply process in Germany during the period of monetary targeting by the Bundesbank from 1975-1998. While the standard money multiplier approach assumes that the money stock is determined by the money multiplier and the monetary base it is argued here that both the money stock and the monetary base are determined endogenously by the optimizing...

The memorization of events and situations (episodic memory) requires the rapid formation of neural circuits for detecting bindings and binding-errors. The formation of binding-error detectors, however, is problematic given their paradoxical behavior. A computational model is described that demonstrates how a transient pattern of activity representing an episode can lead to the rapid formation o...

This paper studies the interest rate exposure of the housing markets and the role of housing prices in monetary transmission mechanism in two emerging markets, Czech Republic and South Africa. The Granger causality test results indicate that housing price fluctuations create wealth and balance sheet effect in both countries. The results of impulse response functions based on the VECMs show that...

The authors examine the link between consumption and disaggregate wealth in Canada. They use a vector-error-correction model in which permanent and transitory shocks are identified using the restrictions implied by cointegration proposed by King, Plosser, Stock, and Watson (1991) and Gonzalo and Granger (1995). This procedure allows the authors to identify the reaction of consumption to both ty...

This paper examines the relationships among Hangseng index and its related derivatives in a bear market. The Johansen Co-integration and vector error correction model are used to analyze the relationships between markets. The main results are as follows: 1) The lead-lag relationships show that Hangseng index futures and option markets play a more important price discovery role; 2) The pricing e...