8,728 research outputs found
The macroeconomy and the yield curve: a nonstructural analysis
We estimate a model with latent factors that summarize the yield curve (namely, level, slope, and curvature) as well as observable macroeconomic variables (real activity, inflation, and the stance of monetary policy). Our goal is to provide a characterization of the dynamic interactions between the macroeconomy and the yield curve. We find strong evidence of the effects of macro variables on future movements in the yield curve and much weaker evidence for a reverse influence. We also relate our results to a traditional macroeconomic approach based on the expectations hypothesis
Optimal Pebbling in Products of Graphs
We prove a generalization of Graham's Conjecture for optimal pebbling with
arbitrary sets of target distributions. We provide bounds on optimal pebbling
numbers of products of complete graphs and explicitly find optimal -pebbling
numbers for specific such products. We obtain bounds on optimal pebbling
numbers of powers of the cycle . Finally, we present explicit
distributions which provide asymptotic bounds on optimal pebbling numbers of
hypercubes.Comment: 28 pages, 1 figur
Effects of a Cut, Lorentz-Boosted sky on the Angular Power Spectrum
The largest fluctuation in the observed CMB temperature field is the dipole,
its origin being usually attributed to the Doppler Effect - the Earth's
velocity with respect to the CMB rest frame. The lowest order boost correction
to temperature multipolar coefficients appears only as a second order
correction in the temperature power spectrum, . Since v/c - 10-3,
this effect can be safely ignored when estimating cosmological parameters
[4-7]. However, by cutting our galaxy from the CMB sky we induce large-angle
anisotropies in the data. In this case, the corrections to the cut-sky
s show up already at first order in the boost parameter. In this
paper we investigate this issue and argue that this effect might turn out to be
important when reconstructing the power spectrum from the cut-sky data.Comment: 12 pages, 1 figur
ECONOMIC IMPLICATIONS OF ALTERNATIVE COTTON PRODUCTION PRACTICES: TEXAS LOWER RIO GRANDE VALLEY
Crop Production/Industries,
Real Space Approach to CMB deboosting
The effect of our Galaxy's motion through the Cosmic Microwave Background
rest frame, which aberrates and Doppler shifts incoming photons measured by
current CMB experiments, has been shown to produce mode-mixing in the multipole
space temperature coefficients. However, multipole space determinations are
subject to many difficulties, and a real-space analysis can provide a
straightforward alternative. In this work we describe a numerical method for
removing Lorentz- boost effects from real-space temperature maps. We show that
to deboost a map so that one can accurately extract the temperature power
spectrum requires calculating the boost kernel at a finer pixelization than one
might naively expect. In idealized cases that allow for easy comparison to
analytic results, we have confirmed that there is indeed mode mixing among the
spherical harmonic coefficients of the temperature. We find that using a boost
kernel calculated at Nside=8192 leads to a 1% bias in the binned boosted power
spectrum at l~2000, while individual Cls exhibit ~5% fluctuations around the
binned average. However, this bias is dominated by pixelization effects and not
the aberration and Doppler shift of CMB photons that causes the fluctuations.
Performing analysis on maps with galactic cuts does not induce any additional
error in the boosted, binned power spectra over the full sky analysis. For
multipoles that are free of resolution effects, there is no detectable
deviation between the binned boosted and unboosted spectra. This result arises
because the power spectrum is a slowly varying function of and does not show
that, in general, Lorentz boosts can be neglected for other cosmological
quantities such as polarization maps or higher-point functions.Comment: 8 pages, submitted to MNRA
The Macroeconomy and the Yield Curve: A Dynamic Latent Factor Approach
We estimate a model that summarizes the yield curve using latent factors (specifically, level, slope, and curvature) and also includes observable macroeconomic variables (specifically, real activity, inflation, and the monetary policy instrument). Our goal is to provide a characterization of the dynamic interactions between the macroeconomy and the yield curve. We find strong evidence of the effects of macro variables on future movements in the yield curve and evidence for a reverse influence as well. We also relate our results to the expectations hypothesis.
The Macroeconomy and the Yield Curve: A Nonstructural Analysis
We estimate a model with latent factors that summarize the yield curve (namely, level, slope, and curvature) as well as observable macroeconomic variables (real activity, inflation, and the stance of monetary policy). Our goal is to provide a characterization of the dynamic interactions between the macroeconomy and the yield curve. We find strong evidence of the effects of macro variables on future movements in the yield curve and much weaker evidence for a reverse influence. We also relate our results to a traditional macroeconomic approach based on the expectations hypothesis.Yield curve, term structure, interest rates, macroeconomic fundamentals, factor model, statespace model
The Macroeconomy and the Yield Curve: A Nonstructural Analysis
We estimate a model with latent factors that summarize the yield curve (namely, level, slope, and curvature) as well as observable macroeconomic variables (real activity, inflation, and the stance of monetary policy). Our goal is to provide a characterization of the dynamic interactions between the macroeconomy and the yield curve. We find strong evidence of the effects of macro variables on future movements in the yield curve and much weaker evidence for a reverse influence. We also relate our results to a traditional macroeconomic approach based on the expectations hypothesis.Yield curve, term structure, interest rates, macroeconomic fundamentals, factor model, state-space model
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