New Keynesian Model Features that Can Reproduce Lead, Lag and Persistence Patterns

This paper uses a new method for describing dynamic comovement and persistence in economic time series which builds on the contemporaneous forecast error method developed in den Haan (2000). This data description method is then used to address issues in New Keynesian model performance in two ways. First, well known data patterns, such as output and inflation leads and lags and inflation persistence, are decomposed into forecast horizon components to give a more complete description of the data patterns. These results show that the well known lead and lag patterns between output and inflation arise mostly in the medium term forecasts horizons. Second, the data summary method is used to investigate a rich New Keynesian model with many modeling features to see which of these features can reproduce lead, lag and persistence patterns seen in the data. Many studies have suggested that a backward looking component in the Phillips curve is needed to match the data, but our simulations show this is not necessary. We show that a simple general equilibrium model with persistent IS curve shocks and persistent supply shocks can reproduce the lead, lag and persistence patterns seen in the data.

Full-duplex wireless-over-fibre transmission incorporating a CWDM ring architecture with remote millimetre-wave LO delivery using a bi-directional SOA

We demonstrate the first full-duplex wireless-over-fibre transmission between a central station and a CWDM ring architecture with remote 40 GHz LO delivery using a bi-directional semiconductor optical amplifier. © 2005 Optical Society of America.

PICES-GLOBEC International Program on Climate Change and Carrying Capacity: Report of the PICES 2002 Volunteer Observing Ship Workshop.

On April 4-5, 2002, the PICES MONITOR Task Team, the PICES Continuous Plankton Recorder (CPR) Advisory Panel, and the Exxon Valdez Oil Spill Trustee Council’s Gulf Ecosystem Monitoring (GEM) program convened a workshop in Seattle, U.S.A., to consider enhanced instrumentation for volunteer observing ships (VOS), particularly instruments to complement CPR data. (PDF contains 44 pages)

Beach monitoring project Sand Key Phase II Beach nourishment program (North Redington Beach and Redington Shores) Post-Nourishment Report Part II Offshore Profiles and Wave Data

This study presents the third post-nourishment survey (January 1989) results for the Sand Key Phase II beach nourishment project carried out in June, 1988. The monitoring program to this beach nourishment project is a joint effort between the University of South Florida and University of Florida. The field surveys include a total of 26 profiles, encompassing approximately 3 miles of shoreline extending from DNR R-96 to R-1ll. The total calculated volume loss of sand in the nourished segment (from R-99G to R-107) between the July 88 and January 89 surveys is 51,113 cubic yards, which is a loss about 9.7 percent of 529,150 cubic yards actually placed in the nourishment project. The total loss of sand computed in the entire survey area is 26,796 cubic yards, which is only 5.1 percent of the sand placed in the nourishment project. It is stressed that a part of these net volume reductions is due to the background erosion and not due to spreading losses induced by the nourishment project. (PDF contains 168 pages.)

Effect of Aquathol K Treatments on Activity Patterns of Largemouth Bass in Two Coves of Lake Seminole, Georgia

Thirty largemouth bass ( Micropterus salmoide s Lacepde) were implanted with radio tags in late October 2003 in two coves of Lake Seminole, Georgia, and tracked over a 24-hour period about every 10 days to determine their response to herbicide application. After five weeks of tracking, hydrilla ( Hydrilla verticillata Royle) in each cove was treated in early December 2003 with dipotassium salt of endothall (Aquathol K; 7-oxabicyclo [2.2.1] heptane-2,3-dicarboxylic acid) at a rate of 3.5 ppm. Largemouth bass were tracked during application and tracking continued for three months post treatment to assess effects of herbicide treatment on activity patterns. The treatment in Desser Cove successfully reduced hydrilla in approximately half the cove. However, the treatment in Peacock Lake completely eliminated all submersed aquatic vegetation (SAV) by April 2004. Movement and activity centers remained similar between treatment periods in Desser Cove, but increased after treatment in Peacock Lake. Depth occupied by telemetered fish decreased after Aquathol K treatment in both coves. In general, behavior of largemouth bass did not change appreciably during treatment, and only minor changes were observed in the posttreatment period in Peacock Lake, where all SAV was eliminated. Fish showed little attraction to or movement away from treatment areas, and fish migration from either cove was nil after treatment. Application of Aquathol K and subsequent reduction of SAV had little effect on largemouth bass behavior or movement. (PDF has 8 pages.)