Toward a Bias Corrected Currency Equivalent Index

Measuring the economic stock of money, defined to be the present value of current and future monetary service flows, is a difficult asset pricing problem, because most monetary assets yield interest. Thus, an interest yielding monetary asset is a joint product: a durable good providing a monetary service flow and a financial asset yielding a return. The currency equivalent index provides an elegant solution, but it does so by making strong assumptions about expectations of future monetary service flows. These assumptions cause the currency equivalent index to exhibit significant downward bias. In this paper, we propose an extension to the currency equivalent index that will correct for a significant amount of this bias.Currency equivalent index, monetary aggregation, money stock

An Examination of Ethnic Content in Nine Current Basal Series

The authors sought answers to the following questions regarding ethnic content by examining nine current basal reading series: 1. What amount of ethnic content is contained in nine of the major basal reading series; are there differences in the amount of ethnic content contained in these series? 2. Is there a particular basal reading series that emphasizes a greater number of stories about Blacks, Hispanics, or Native Americans than others; to what extent are these differences evident among the basal reading series? 3. In what ways can such information benefit individuals who are interested in purchasing a new basal series

Social learning is central to innovation, in primates and beyond

AbstractMuch of the importance of innovation stems from its capacity to spread via social learning, affecting multiple individuals, thus generating evolutionary and ecological consequences. We advocate a broader taxonomic focus in the field of behavioral innovation, as well as the use of comparative field research, and discuss the unique conservation implications of animal innovations and traditions.This is the author accepted manuscript. The final version is available from Cambridge University Press via http://dx.doi.org/10.1017/S0140525X0700247

Contributors to the January Issue/Notes

Notes by John J. Locher, W. A. Stewart, John H. Logan, John A. Berry, Albert J. Andreoni, Richard A. Molique, Robert B. Devine, and Joseph A. McCabe

Contributors to the January Issue/Notes

Notes by John J. Locher, W. A. Stewart, John H. Logan, John A. Berry, Albert J. Andreoni, Richard A. Molique, Robert B. Devine, and Joseph A. McCabe

The Federal Rules Of Civil Procedure: Politics In The 2013-2014 Revision

Pre-trial discovery is perpetually controversial. Parties advantaged by strict privacy can often avoid justice when this is disadvantageous to their interests. Contrawise, parties advantaged by relaxed litigation privacy can achieve justice when all facts are accessible irrespective of their repositories, ownership or control. American-style pre-trial discovery in civil and regulatory enforcement is relatively rare around the world. U.S. discovery rules open nearly all relevant and non-privileged data for use by opposing parties. The traditional discovery process was costly and time consuming in the world of tangible paper data. However, these burdens have increased, rather than diminished as often predicted, as most data migrates to electronically stored information (ESI). This article provides a midstream assessment of the second major revision effort to accommodate U.S. discovery processes to the broad and deep problems arising during the past 20 years of document discovery experience with predominately ESI data sources

Toward a Bias Corrected Currency Equivalent Index

Measuring the economic stock of money, defined to be the present value of current and future monetary service flows, is a difficult asset pricing problem, because most monetary assets yield interest. Thus, an interest yielding monetary asset is a joint product: a durable good providing a monetary service flow and a financial asset yielding a return. The currency equivalent index provides an elegant solution, but it does so by making strong assumptions about expectations of future monetary service flows. These assumptions cause the currency equivalent index to exhibit significant downward bias. In this paper, we propose an extension to the currency equivalent index that will correct for a significant amount of this bias

Characteristics of Evoked Potential Multiple EEG Recordings in Patients with Chronic Pain by Means of Parallel Factor Analysis

This paper presents an alternative method, called as parallel factor analysis (PARAFAC) with a continuous wavelet transform, to analyze of brain activity in patients with chronic pain in the time-frequency-channel domain and quantifies differences between chronic pain patients and controls in these domains. The event related multiple EEG recordings of the chronic pain patients and non-pain controls with somatosensory stimuli (pain, random pain, touch, random touch) are analyzed. Multiple linear regression (MLR) is applied to describe the effects of aging on the frequency response differences between patients and controls. The results show that the somatosensory cortical responses occurred around 250 ms in both groups. In the frequency domain, the neural response frequency in the pain group (around 4 Hz) was less than that in the control group (around 5.5 Hz) under the somatosensory stimuli. In the channel domain, cortical activation was predominant in the frontal region for the chronic pain group and in the central region for controls. The indices of active ratios were statistical significant between the two groups in the frontal and central regions. These findings demonstrate that the PARAFAC is an interesting method to understanding the pathophysiological characteristics of chronic pain