A Peek Inside the Black Box: The Monetary Transmission Mechanism in Japan

This paper uses vector autoregressions to examine the monetary transmission mechanism in Japan. The empirical results indicate that both monetary policy and bank's balance sheets are important sources of shocks, that banks play a crucial role in transmitting monetary shocks to economic activity, that corporations andhouseholds have not been able to substitute borrowing from other sources for a shortfall in bank borrowing, and that business investment is especially sensitive to monetary shocks. We conclude that policy measures to strengthen banks are probably a prerequisite to restoring the effectiveness of the monetary transmission mechanism. Copyright 2001, International Monetary Fund

Skill-Referenced Instruction for Disabled Readers: Guidelines and Cautions

Early in the development of learning disability programs, the terms reading disability and dyslexia were widely used to describe the problem of a child who had extreme difficulty in learning to decode printed words (Jastak and Jastak, 1965), despite conventional educational opportunity (Money, 1962) and apparent capacity to learn (Bateman, 1964). Reading disability was further distinguished from simple reading difficulty by its severity and its duration, with resultant need for highly specialized treat ment over a long period of time (Rabinovitch, 1962)

Development of Reading Want Ads: A New Informal Reading Inventory for Older Exceptional Children

This article describes the procedures used in the development of a new reading test for older remedial readers, particularly those in special education classes

Quasi-normal modes of rotating relativistic stars - neutral modes for realistic equations of state

We compute zero-frequency (neutral) quasi-normal f-modes of fully relativistic and rapidly rotating neutron stars, using several realistic equations of state (EOSs) for neutron star matter. The zero-frequency modes signal the onset of the gravitational radiation-driven instability. We find that the l=m=2 (bar) f-mode is unstable for stars with gravitational mass as low as 1.0 - 1.2 M_\odot, depending on the EOS. For 1.4 M_\odot neutron stars, the bar mode becomes unstable at 83 % - 93 % of the maximum allowed rotation rate. For a wide range of EOSs, the bar mode becomes unstable at a ratio of rotational to gravitational energies T/W \sim 0.07-0.09 for 1.4 M_\odot stars and T/W \sim 0.06 for maximum mass stars. This is to be contrasted with the Newtonian value of T/W \sim 0.14. We construct the following empirical formula for the critical value of T/W for the bar mode, (T/W)_2 = 0.115 - 0.048 M / M_{max}^{sph}, which is insensitive to the EOS to within 4 - 6 %. This formula yields an estimate for the neutral mode sequence of the bar mode as a function only of the star's mass, M, given the maximum allowed mass, M_{max}^{sph}, of a nonrotating neutron star. The recent discovery of the fast millisecond pulsar in the supernova remnant N157B, supports the suggestion that a fraction of proto-neutron stars are born in a supernova collapse with very large initial angular momentum. Thus, in a fraction of newly born neutron stars the instability is a promising source of continuous gravitational waves. It could also play a major role in the rotational evolution (through the emission of angular momentum) of merged binary neutron stars, if their post-merger angular momentum exceeds the maximum allowed to form a Kerr black hole.Comment: 12 pages, 5 figures, submitted to Ap