A comparison between Markov approximations and other methods for large spatial data sets

The Matérn covariance function is a popular choice for modeling dependence in spatial environmental data. Standard Matérn covariance models are, however, often computationally infeasible for large data sets. Recent results for Markov approximations of Gaussian Matérn fields based on Hilbert space approximations are extended using wavelet basis functions. Using a simulation-based study, these Markov approximations are compared with two of the most popular methods for computationally efficient model approximations, covariance tapering and the process convolution method. The methods are compared with respect to their computational properties when used for spatial prediction (kriging), and the results show that, for a given computational cost, the Markov methods have a substantial gain in accuracy compared with the other methods. © 2012 Elsevier B.V. All rights reserved

Monetary Policy and Long-Term Real Rates

Abstract Changes in monetary policy have surprisingly strong effects on forward real rates in the distant future. A 100 basis point increase in the two-year nominal yield on a Federal Open Markets Committee announcement day is associated with a 42 basis point increase in the ten-year forward real rate. This finding is at odds with standard macro models based on sticky nominal prices, which imply that monetary policy cannot move real rates over a horizon longer than that over which all prices in the economy can readjust. Instead, the responsiveness of long-term real rates to monetary shocks appears to reflect changes in term premia. One mechanism that could generate such variation in term premia is based on demand effects due to the existence of what we call yield-oriented investors. We find some evidence supportive of this channel. JEL classification: E43, E52, G12, G1

A study of counselor perceived usefulness of client ego level assessment in the counseling process

This descriptive study was directed toward counselor perceived usefulness of client ego level assessment in the counseling process. The specific intention of the study was to determine if counselors in training would use, and find useful, a differential counseling methodology that proposed specific psychotherapy models correlated to the client's pre-therapy ego level assessment.The subjects for the research were drawn from counselors in training, enrolled in the M.A. and Ed.D. programs at the Ball State University Department of Counseling Psychology and Guidance Services. The sample counselor population consisted of 31 counselors who agreed to participate in the study after being selected randomly.Following a review of literature related to differential counseling research, the Loevinger-Wessler Ego Development Inventory was selected to administer to clients presenting themselves for psychological counseling at the Ball State University Practicum Clinic during Spring Quarter, 1976. This instrument was administered to all clients prior to intake procedures. The results of the client ego level assessment as well as proposed psychotherapy models for the individual client data were made available to the appropriate counselors for treatment of randomly selected clients. During the final week of Spring Quarter, 19?6, the sample counselor population were asked to respond to a researcher designed questionnaire of 22 items, as well as the Loevinger-Wessler Ego Development Inventory. The questionnaire was designed to assess the counselor's perceptions of the use and usefulness of the client ego level data. The Loevinger-Wessler Ego Development Inventory assessment was to determine if any correlation existed between a counselor's ego level assessment and their use or non-use of the client ego level data. Additionally, the Loevinger-Wessler Ego Development Inventory was used to provide one counselor main effect factor for a statistical model using multivariate analysis of qualitative data to identify factors that contribute significantly as being able to predict which counselor variables would cause-counselor use of client ego level data in the counseling process.These data were collected and reported in a descriptive context, with the responses to questionnaire items being reported by number and percentage. The contingency model using multivariate analysis of qualitative data was tested for goodness of fit, and statistical conclusions were drawn. The conclusions drawn from this study included:1. Of the total sample counselor population, 77.4% of the respondents reported using the proposed therapy models at least /4 of the counseling time or more. The counselor population appeared to be willing to use the proposed treatment models, although their preferred psychotherapy orientation may have been other than the proposed therapy models.2. Of the total sample counselor population, 93.5% of the respondents reported the proposed therapy models for their clients as being useful 34 or more of the counseling time, indicating that the sample counselor population viewed the client ego level data and proposed therapy models as being worthwhile methodology for differential counseling. 3. The respondents reported that in comparison to their total client population for whom there was no preassessment data available, 25.9% reported more therapy progress for those clients for whom the client ego level data was available. The majority of the sample counselor population reported about the same progress for their entire client population. The conclusion was reached that a trend exists for this differential counseling strategy as being helpful for client therapy progress. 4. The conclusion was drawn that advanced or beginning client assignment for counselors in training in the sample population was not a significant variable in determining which group of counselors made more use of the client ego level data. 5. The conclusion was drawn that advanced or beginning client assignment for counselors in training in the sample population was not a significant variable in determining which group of counselors perceived the client ego level data as useful. 6. The conclusion was drawn that the variables of counselor ego level or counselor client assignment are equally effective in predicting counselor. 7. The conclusion was drawn that there were no significant differences in use of client ego level data between the two counselor ego level assessment groups.Thesis (D. Ed.