How does monetary policy change? evidence on inflation targeting countries

We examine the evolution of monetary policy rules in a group of inflation targeting countries (Australia, Canada, New Zealand, Sweden and the United Kingdom) applying moment- based estimator at time-varying parameter model with endogenous regressors. Using this novel flexible framework, our main findings are threefold. First, monetary policy rules change gradually pointing to the importance of applying time-varying estimation framework. Second, the interest rate smoothing parameter is much lower that what previous time-invariant estimates of policy rules typically report. External factors matter for all countries, albeit the importance of exchange rate diminishes after the adoption of inflation targeting. Third, the response of interest rates on inflation is particularly strong during the periods, when central bankers want to break the record of high inflation such as in the U.K. or in Australia at the beginning of 1980s. Contrary to common wisdom, the response becomes less aggressive after the adoption of inflation targeting suggesting the positive effect of this regime on anchoring inflation expectations. This result is supported by our finding that inflation persistence as well as policy neutral rate typically decreased after the adoption of inflation targeting.

Age effects, unobserved characteristics and hedonic price indexes: The Spanish car market in the 1990s

This paper computes and compares alternative quality-adjusted price indexes for new cars in Spain in the period 1990-2000. The proposed hedonic approach simultaneously controls for time-invariant unobserved product e¤ects and time-variant unobserved quality changes, that are assumed to be captured by model age effects. The results show that the non-adjusted price index largely overstates the increase in the cost of living induced by changes in car prices and that previous evidence for this market have not measured the real extent of that bias, probably due to the omission of controls for unobservables. It is also shown that omitting age effects can also lead to misleading conclusions. The estimated price indexes give also some insights on what could have been the determinants of price evolution in the Spanish car market.

Age effects, unobserved characteristics and hedonic price indexes: The Spanish car market in the 1990's

This paper computes and compares alternative quality-adjusted price indexes for new cars in Spain in the period 1990-2000. The proposed hedonic approach simultaneously controls for time-invariant unobserved product effects and time-variant unobserved quality changes, that are assumed to be captured by model age effects. The results show that the non-adjusted price index largely overstates the increase in the cost of living induced by changes in car prices and that previous evidence for this market have not measured the real extent of that bias, probably due to the omission of controls for unobservables. It is also shown that omitting age effects can also lead to misleading conclusions. The estimated price indexes give also some insights on what could have been the determinants of price evolution in the Spanish car market. JEL classi…fication numbers: C43, E31, L11, L13, Keywords: Hedonic price indexes, Spanish car market, car prices, CPI, Cost of living

Gérard Grisey : la cuantificación temporal deducida de los procesos perceptivos

En el presente trabajo, tratamos diferentes perspectivas sobre la poética, estrategias compositivas y repercusión perceptiva del tiempo en la música de Gérard Grisey. En el primer capítulo, abordamos la concepción del tiempo como unidad y proporcionalidad duracional y su relación con otros parámetros musicales. A continuación, presentamos tres enfoques sobre el tiempo que emergen de la poética de Grisey y del análisis de sus obras: la ruptura con la proporcionalidad duracional y la relación entre tiempo y sonido, el concepto de cambio de escala temporal y la analogía entre tiempo y cosmos. En el segundo capítulo, proponemos tres categorías temporales basadas principalmente en el concepto de previsibilidad: tiempo no lineal, tiempo lineal y tiempo procesual. En el tercer y último capítulo, exponemos los fundamentos de la Teoría de la Información, su relación con el discurso de Grisey y su método de aplicación.

Redefinición del interfaz del Centro de Tráfico Centralizado (CTC) de una explotación ferroviaria

En aquest projecte, es mira de reflectir la necessitat d'utilitzar l'enginyeria i la facilitat d'ús per millorar els sistemes de control en temps real que es fan servir avui dia per a controlar processos crítics.

Linux com a sistema operatiu de temps real

Avaluació de les capacitats d'assolir requeriments de temps real de la línia principal de nucli de Linux.

Nuevo disipador para edificación sismorresistente. 2ª parte: comportamiento de estructures duales de un grado de libertad con disipadores

The behaviour of a new elastoplastic shear link dissipator has been analysed in the first part of this paper. The second part describes experimental and numerical studies for a SDOF non-standard dual system protected with shear dissipators. High and intermediate stiff deal systems with this Device have presented smaller values of the shear base force and the interstory drift when compared to linear and elastic systems response. It has been appreciated that most of introduced energy is dissipated when a low ratio between the main frame stiffness and dissipation system stiffness is hold. It has been also observed that a higher ratio between the dissipator yielding force and the total mass drives to a more reduced structural response. Finally is has been appreciated than the absorbed energy might be predicted using the velocity pseudo-spectra and an effective fundamental period, that has been defined by using the minimum secant stiffness of dual system

Subsampling the mean of heavy-tailed dependent observations

We establish the validity of subsampling confidence intervals for themean of a dependent series with heavy-tailed marginal distributions.Using point process theory, we study both linear and nonlinear GARCH-liketime series models. We propose a data-dependent method for the optimalblock size selection and investigate its performance by means of asimulation study.

Multiple filtering devices for the estimation of cyclical DSGE models

We propose a method to estimate time invariant cyclical DSGE models using the informationprovided by a variety of filters. We treat data filtered with alternative procedures as contaminated proxies of the relevant model-based quantities and estimate structural and non-structuralparameters jointly using a signal extraction approach. We employ simulated data to illustratethe properties of the procedure and compare our conclusions with those obtained when just onefilter is used. We revisit the role of money in the transmission of monetary business cycles.

Adaptive frequency tracking of the baseline ECG identifies the site of atrial fibrillation termination by catheter ablation

Multiple organization indices have been used to predict the outcome of stepwise catheter ablation in long-standing persistent atrial fibrillation (AF), however with limited success. Our study aims at developinginnovative organization indices from baseline ECG (i.e. during the procedure, before ablation) in orderto identify the site of AF termination by catheter ablation. Seventeen consecutive male patients (age60 ± 5 years, AF duration 7 ± 5 years) underwent a stepwise catheter ablation. Chest lead V6 was placedin the back (V6b). QRST cancelation was performed from chest leads V1 to V6b. Using an innovativeadaptive harmonic frequency tracking, two measures of AF organization were computed to quantify theharmonics components of ECG activity: (1) the adaptive phase difference variance (APD) between theAF harmonic components as a measure of AF regularity, and (2) and adaptive organization index (AOI)evaluating the cyclicity of the AF oscillations. Both adaptive indices were compared to indices computedusing a time-invariant approach: (1) ECG AF cycle length (AFCL), (2) the spectrum based organizationindex (OI), and (3) the time-invariant phase difference TIPD. Long-standing persistent AF was terminatedinto sinus rhythm or atrial tachycardia in 13/17 patients during stepwise ablation, 11 during left atriumablation (left terminated patients - LT), 2 during the right atrium ablation (right terminated patients -RT), and 4 were non terminated (NT) and required electrical cardioversion. Our findings showed that LTpatients were best separated from RT/NT before ablation by the duration of sustained AF and by AOI onchest lead V1 and APD from the dorsal lead V6b as compared to ECG AFCL, OI and TIPD, respectively. Ourresults suggest that adaptive measures of AF organization computed before ablation perform better thantime-invariant based indices for identifying patients whose AF will terminate during ablation within theleft atrium. These findings are indicative of a higher baseline organization in these patients that could beused to select candidates for the termination of AF by stepwise catheter ablation.© 2013 Elsevier Ltd. All rights reserved.

Sistemes encastats en temps real

Resum En l’actualitat, els sistemes electrònics de processament de dades són cada cop més significatius dins del sector industrial. Són moltes les necessitats que sorgeixen en el món dels sistemes d’autentificació, de l’electrònica aeronàutica, d’equips d’emmagatzemament de dades, de telecomunicacions, etc. Aquestes necessitats tecnològiques exigeixen ser controlades per un sistema fiable, robust, totalment dependent amb els esdeveniments externs i que compleixi correctament les restriccions temporals imposades per tal de que realitzi el seu propòsit d’una manera eficient. Aquí és on entren en joc els sistemes encastats en temps real, els quals ofereixen una gran fiabilitat, disponibilitat, una ràpida resposta als esdeveniments externs del sistema, una alta garantia de funcionament i una àmplia possibilitat d’aplicacions. Aquest projecte està pensat per a fer una introducció al món dels sistemes encastats, com també explicar el funcionament del sistema operatiu en temps real FreeRTOS; el qual utilitza com a mètode de programació l’ús de tasques independents entre elles. Donarem una visió de les seves característiques de funcionament, com organitza tasques mitjançant un scheduler i uns exemples per a poder dissenyar-hi aplicacions.

Hamiltonian formalism for path-dependent Lagrangians

A presymplectic structure for path-dependent Lagrangian systems is set up such that, when applied to ordinary Lagrangians, it yields the familiar Legendre transformation. It is then applied to derive a Hamiltonian formalism and the conserved quantities for those predictive invariant systems whose solutions also satisfy a Fokker-type action principle.

Planning under partial observability by classical replanning: theory and experiments

Planning with partial observability can be formulated as a non-deterministic search problem in belief space. The problem is harder than classical planning as keeping track of beliefs is harder than keeping track of states, and searching for action policies is harder than searching for action sequences. In this work, we develop a framework for partial observability that avoids these limitations and leads to a planner that scales up to larger problems. For this, the class of problems is restricted to those in which 1) the non-unary clauses representing the uncertainty about the initial situation are nvariant, and 2) variables that are hidden in the initial situation do not appear in the body of conditional effects, which are all assumed to be deterministic. We show that such problems can be translated in linear time into equivalent fully observable non-deterministic planning problems, and that an slight extension of this translation renders the problem solvable by means of classical planners. The whole approach is sound and complete provided that in addition, the state-space is connected. Experiments are also reported.

Increasing prehospital emergency medical service interventions for nursing home residents.

QUESTION: In the ageing European population, the proportion of interventions by the emergency medical services (EMS) for elderly patients is increasing, but little is known about the recent trend of EMS interventions in nursing homes. The aim of this analysis was to describe the evolution of the incidence of requests for prehospital EMS interventions for nursing home residents aged 65 years and over between 2004 and 2013. METHODS: A prospective population-based register of routinely collected data for each EMS intervention in the Canton of Vaud. Linear time trends of incidence of requests to the EMS in nursing homes were calculated and stratified by age categories. RESULTS: The number of ambulance interventions in nursing homes for people aged 65 years and over (65+) increased by 68.9% (1124‒1898) between 2004 and 2013. A significant linear increase of the annual incidence of requests to EMS per 1,000 nursing home residents was found for people aged 65-79 (10.2, 95% confidence interval [CI] 6.2-14.2), 80-89 (16.5, 95% CI 14.0-19.0) and over 90 (12.1, 95% CI 5.8-18.4). EMS interventions in nursing home residents who required an emergency physician increased during the same period by 205.6% (from 106 to 324), representing an increase from 2% to 7% of all emergency physician interventions in the Canton. CONCLUSIONS: Our results confirmed an important increase in the incidence of EMS interventions in nursing homes during the last decade, far exceeding the actual increase of the nursing home population during the same period. This evolution represents an important opportunity to reconsider the EMS missions in the context of an ageing society.

Dynamic and quasistatic trajectories in quasifission reactions and particle emission

We show that the quasifission paths predicted by the one-body dissipation dynamics, in the slowest phase of a binary reaction, follow a quasistatic path, which represents a sequence of states of thermal equilibrium at a fixed value of the deformation coordinate. This establishes the use of the statistical particle-evaporation model in the case of dynamical time-evolving systems. Pre- and post-scission multiplicities of neutrons and total multiplicities of protons and α particles in fission reactions of 63Cu+92Mo, 60Ni+100Mo, 63Cu+100Mo at 10 MeV/u and 20Ne+144,148,154Sm at 20 MeV/u are reproduced reasonably well with statistical model calculations performed along dynamic trajectories whose slow stage (from the most compact configuration up to the point where the neck starts to develop) lasts some 35×10−21 s.