MX-LSTM: mixing tracklets and vislets to jointly forecast trajectories and head poses

Recent approaches on trajectory forecasting use tracklets to predict the future positions of pedestrians exploiting Long Short Term Memory (LSTM) architectures. This paper shows that adding vislets, that is, short sequences of head pose estimations, allows to increase significantly the trajectory forecasting performance. We then propose to use vislets in a novel framework called MX-LSTM, capturing the interplay between tracklets and vislets thanks to a joint unconstrained optimization of full covariance matrices during the LSTM backpropagation. At the same time, MX-LSTM predicts the future head poses, increasing the standard capabilities of the long-term trajectory forecasting approaches. With standard head pose estimators and an attentional-based social pooling, MX-LSTM scores the new trajectory forecasting state-of-the-art in all the considered datasets (Zara01, Zara02, UCY, and TownCentre) with a dramatic margin when the pedestrians slow down, a case where most of the forecasting approaches struggle to provide an accurate solution.Comment: 10 pages, 3 figures to appear in CVPR 201

Forecasting People Trajectories and Head Poses by Jointly Reasoning on Tracklets and Vislets

In this work, we explore the correlation between people trajectories and their head orientations. We argue that people trajectory and head pose forecasting can be modelled as a joint problem. Recent approaches on trajectory forecasting leverage short-term trajectories (aka tracklets) of pedestrians to predict their future paths. In addition, sociological cues, such as expected destination or pedestrian interaction, are often combined with tracklets. In this paper, we propose MiXing-LSTM (MX-LSTM) to capture the interplay between positions and head orientations (vislets) thanks to a joint unconstrained optimization of full covariance matrices during the LSTM backpropagation. We additionally exploit the head orientations as a proxy for the visual attention, when modeling social interactions. MX-LSTM predicts future pedestrians location and head pose, increasing the standard capabilities of the current approaches on long-term trajectory forecasting. Compared to the state-of-the-art, our approach shows better performances on an extensive set of public benchmarks. MX-LSTM is particularly effective when people move slowly, i.e. the most challenging scenario for all other models. The proposed approach also allows for accurate predictions on a longer time horizon.Comment: Accepted at IEEE TRANSACTIONS ON PATTERN ANALYSIS AND MACHINE INTELLIGENCE 2019. arXiv admin note: text overlap with arXiv:1805.0065

A Dynamic Approach to Inflation Targeting in Transition Economies

This study views inflation targeting as a viable regime for more advanced transition economies. A dynamic approach to the trajectory of disinflation and the flexibility of direct inflation targeting is presented in the context of achieving monetary convergence to the EU/EMU. The candidate countries are advised to begin from strict inflation targeting and to follow with a more flexible inflation targeting regime before they establish a necessary 'foundational credibility' and monetary stability. These steps, ultimately followed by the euro-peg, are necessary in preparing for accession to the eurozone. The early experiences of the Czech Republic and Poland with inflation targeting are examined.

Monetary Convergence of the EU Candidates to the Euro: A Theoretical Framework and Policy Implications

A flexible approach to direct inflation targeting is a viable monetary policy choice for transition economies that is believed to facilitate both the economic transition and the monetary convergence to the euro. Following this assumption, an analytical model investigating the link between the inflation process and monetary variables in transition economies is advanced in this study. The empirical testing is conducted for Poland, the Czech Republic and Hungary. The analysis recommends that the monetary convergence begins with inflation targeting and concludes with a full-fledged euroization. It further advocates the application of flexible benchmarks of monetary convergence that would accommodate various non-monetary factors affecting inflation in transition economies.transition economies, European Union candidate countries, inflation targeting, inflation targeting, monetary convergence

Implementing the New Structural Model of the Czech National Bank

The purpose of the paper is to introduce the new “g3†structural model of the Czech National Bank and illustrate how it is used for forecasting and policy analysis. As from January 2007 the model was regularly used for shadowing official forecasts, and in July 2008 it became the core model of the CNB. In the paper we highlight the most important and unusual features of the model and discuss tools and procedures that help us in forecasting and assessing the economy with the model. The paper is not meant to provide a full derivation of the model or the complete characteristics of its behavior and should not be regarded as model documentation. Rather, the paper demonstrates how the model is used and how it contributes to policy analysis.DSGE, filtering, forecasting, general equilibrium, monetary policy.

Monetary convergence of the EU candidates to the Euro: A theoretical framework and policy implications

A flexible approach to direct inflation targeting is a viable monetary policy choice for transition economies that is believed to facilitate both the economic transition and the monetary convergence to the euro. Following this assumption, an analytical model investigating the link between the inflation process and monetary variables in transition economies is advanced in this study. The empirical testing is conducted for Poland, the Czech Republic and Hungary. The analysis recommends that the monetary convergence begins with inflation targeting and concludes with a full-fledged euroization. It further advocates the application of flexible benchmarks of monetary convergence that would accommodate various non-monetary factors affecting inflation in transition economies. --

Household Credit and Probability Forecasts of Financial Distress in the United Kingdom

The growth of unsecured household credit relative to income has been marked in recent years and many observers have questioned whether it is sustainable. This paper develops a theory-based empirical model of equilibrium household consumption and credit. The equilibrium relationships are embedded within a vector-autoregressive model that can accommodate complex dynamics with a coherent long-run structure. We define the events associated with financial distress and describe probability forecasting methods that can be applied to the model to predict the likely occurence of distress events. The analysis is illustrated using unsecured credit market data for the UK.Financial Distress, Probability Forecasts, Household Spending and Credit.

Physicists, stamp collectors, human mobility forecasters

One of the two reviewers studied in high school to be a physicist. In the end, he became something else, but he never lost his awe of physics. The other reviewer never intended to become a physicist, but he sometimes asks himself why he didn’t become one. Today, they are both sociologists who practice their science on an action theory basis and believe that regularities exist in the world of social actions which can be perceived, understood, explained – and even used for making predictions