3,699 research outputs found
Obstacle-aware Adaptive Informative Path Planning for UAV-based Target Search
Target search with unmanned aerial vehicles (UAVs) is relevant problem to
many scenarios, e.g., search and rescue (SaR). However, a key challenge is
planning paths for maximal search efficiency given flight time constraints. To
address this, we propose the Obstacle-aware Adaptive Informative Path Planning
(OA-IPP) algorithm for target search in cluttered environments using UAVs. Our
approach leverages a layered planning strategy using a Gaussian Process
(GP)-based model of target occupancy to generate informative paths in
continuous 3D space. Within this framework, we introduce an adaptive replanning
scheme which allows us to trade off between information gain, field coverage,
sensor performance, and collision avoidance for efficient target detection.
Extensive simulations show that our OA-IPP method performs better than
state-of-the-art planners, and we demonstrate its application in a realistic
urban SaR scenario.Comment: Paper accepted for International Conference on Robotics and
Automation (ICRA-2019) to be held at Montreal, Canad
Stock market conditions and monetary policy in an DSGE model for the US
This paper investigates the relationship between stock market fluctuations and monetary policy in a DSGE model for the US economy. We initially adopt a framework in which fluctuations in householdsâ financial wealth are allowed â but not required â to influence current consumption. This is due to interaction in the financial markets between long-time traders holding wealth accumulated over time and zero-wealth newcomers. Importantly, we introduce nominal wage stickiness to induce pro-cyclicality in real dividends. Additional nominal and real frictions are modeled to capture the pervasive macroeconomic persistence of the observables used to estimate our model. We fit our model to US post-WWII data and report three main results. First, the data strongly support a significant impact of stock prices on real activity and business cycles. Second, our estimates also identify a significant and counteractive Fed response to stock-price fluctuations. Third, we derive from our model a microfounded measure of financial slack â the stock-price gap â which we then compare with alternative measures, currently used in empirical studies, to assess the properties of the latter for capturing the dynamic and cyclical implications of our DSGE model. The behavior of our stock-price gap is consistent with the episodes of stock-market booms and busts in the post-WWII period, as reported by independent analyses, and closely correlates with the current financial meltdown. Typically, the proxies used for financial slack, such as detrended log-indexes or growth rates, show limited capabilities of capturing the implications of our model-consistent index of financial stress. Cyclical properties of the model as well as counterfactuals regarding shocks to our measure of financial slackness and monetary policy shocks are also proposed.stock prices; monetary policy; Bayesian estimation; wealth effects
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