A series of developments in the U.S. economic environment in the 1980s has resulted in major changes in prevalent thinking about how monetary policy affects economic activity. One important part of this change simply reflects the heightened awareness, following the experience of disinflation early in the decade, that monetary policy is not neutral-that is,,that actions taken by h e central bank...

This correspondence describes a new test for multivariate normality useful in pattern recognition. The test is based on the Friedman-Rafsky multivariate extension of the Wald-Wolfowitz runs test. We perform Monte-Carlo experiments to determine if the test is reliable in high dimensions with moderate sample size. We compare the test to some other tests mentioned in the literature.