Improved Cross-correlation for Template Matching on the Laplacian Pyramid

Template matching via cross-correlation on Laplacian pyramid image architectures has been traditionally performed in a "coarse" to "fine" fashion. In the present paper, we show that by computing cross-correlation within each level of the pyramid independently, and considering the su, across (expanded) levels, a significant improvement in Peak to Correlation Energy (PCE) [9] is obtained. This result is illustrated with a number of numerical examples

Real-Time Restoration of Images Degraded by Uniform Motion Blur in Foveal Active Vision Systems

Foveated, log-polar, or space-variant image architectures provide a high resolution and wide field workspace, while providing a small pixel computation load. These characteristics are ideal for mobile robotic and active vision applications. Recently we have described a generalization of the Fourier Transform (the fast exponential chirp transform) which allows frame-rate computation of full-field 2D frequency transforms on a log-polar image format. In the present work, we use Wiener filtering, performed using the Exponential Chirp Transform, on log-polar (fovcated) image formats to de-blur images which have been degraded by uniform camera motion.Defense Advanced Research Projects Agency and Office of Naval Research (N00014-96-C-0178); Office of Naval Research Multidisciplinary University Research Initiative (N00014-95-1-0409

Low-energy kink in the nodal dispersion of copper-oxide superconductors: Insights from Dynamical Mean Field Theory

Motivated by the observation in copper-oxide high-temperature superconductors, we investigate the appearance of kinks in the electronic dispersion due to coupling to phonons for a system with strong electronic repulsion. We study a Hubbard model supplemented by an electron-phonon coupling of Holstein type within Dynamical Mean Field Theory (DMFT) utilizing Numerical Renormalization Group as impurity solver. Paramagnetic DMFT solutions in the presence of large repulsion show a kink only for large values of the electron-phonon coupling $\lambda$ or large doping and, contrary to the conventional electron-phonon theory, the position of such a kink can be shifted to energies larger than the renormalized phonon frequency $\omega_0^r$. When including antiferromagnetic correlations we find a stronger effect of the electron-phonon interaction on the electronic dispersion due to a cooperative effect and a visible kink at $\omega_0^r$, even for smaller $\lambda$. Our results provide a scenario of a kink position increasing with doping, which could be related to recent photoemission experiments on Bi-based cuprates.Comment: 10 pages, 10 figures; additional referene

Revisiting the predictability of bond risk premia

This paper investigates the source of predictability of bond risk premia by means of long-term forward interest rates. We show that the predictive ability of forward rates could be due to the high serial correlation and cross-correlation of bond prices. We show that the predictive ability of forward rates could be due to the high serial correlation and cross-correlation of bond prices. After a simple reparametrization of models used to predict spot rates or excess returns, we find that forward rates exhibit much less predictive power than previously recorded. Furthermore, our economic value analysis indicates that there are no economic gains to mean-variance investors who use the predictions of these models in a stylized dynamic asset allocation strategy.Bonds ; Bond market ; Risk

Urban dynamics in New York City: conference overview and summary of papers

These articles were presented at a conference organized by the Federal Reserve Bank of New York in April 2005, "Urban Dynamics in New York City." The goal of the conference was threefold: to examine the historical transformations of the engine-of-growth industries in New York and distill the main determinants of the city's historical dominance as well as the challenges to its continued success; to study the nature and evolution of immigration flows into New York; and to analyze recent trends in a range of socioeconomic outcomes, both for the general population and recent immigrants more specifically.Urban economics ; Federal Reserve District, 2nd ; Economic conditions - New York (N.Y.)

Compensated Current Injection circuit, theory and applications

This paper presents a detailed description, analysis and example of practical application of a wide frequency band voltage-to-current converter. The converter is characterized by a combination of positive and negative feedback loops. This feature allows compensation for parasitic impedance connected in parallel with the useful load, which in turn keeps an excitation current flowing through the useful load independent of its impedance. The simplicity of the circuit and its good electrical properties are additional advantages of the scheme.Comment: 9 pages and 7 figures in one PDF fil

The empirical failure of the expectations hypothesis of the term structure of bond yields

This paper tests the expectations hypothesis (EH) using US monthly data for bond yields spanning the 1952-2003 sample period and ranging in maturity from 1 month to 10 years. We apply the Lagrange multiplier test developed by Bekaert and Hodrick (2001) and extend it to increase the test power: (a) by introducing economic variables as conditioning information; and (b) by using more than two bond yields in the model and testing the EH jointly on more than one pair of yields. While the conventional bivariate procedure provides mixed results, the more powerful testing procedures suggest rejection of the EH throughout the maturity spectrum examined. ; Earlier titles: Testing the expectations hypothesis: some new evidence, New evidence on the expectations hypothesis of the term structure of bond yieldsRational expectations (Economic theory)

Place of Work and Place of Residence: Informal Hiring Networks and Labor Market Outcomes

We use a novel dataset and research design to empirically detect the effect of social interactions among neighbors on labor market outcomes. Specifically, using Census data that characterize residential and employment locations down to the city block, we examine whether individuals residing in the same block are more likely to work together than those in nearby blocks. We find evidence of significant social interactions operating at the block level: residing on the same versus nearby blocks increases the probability of working together by over 33 percent. The results also indicate that this referral effect is stronger when individuals are similar in sociodemographic characteristics (e.g., both have children of similar ages) and when at least one individual is well attached to the labor market. These findings are robust across various specifications intended to address concerns related to sorting and reverse causation. Further, having determined the characteristics of a pair of individuals that lead to an especially strong referral effect, we provide evidence that the increased availability of neighborhood referrals has a significant impact on a wide range of labor market outcomes including employment and wages.Neighborhood Effects, Job Referrals, Social Interactions, Social Interactions, Social Networks, Labor Supply