The Monetary Policy Transmission Mechanism and Policy Rules in Canada

The inflation-targeting regime in place in Canada requires a clear understanding of the monetary policy transmission mechanism and a way to exploit knowledge of that mechanism in taking policy decisions. This paper discusses the Bank of Canada’s current view of the monetary policy transmission mechanism in Canada and the internal research on which it is based, as well as some of the Bank’s research on policy rules. The main objectives in the research on various elements of the monetary policy framework at the Bank of Canada is to find practical ways of addressing the major types of uncertainty in formulating monetary policy. Uncertainty has become particularly important as a research and practical issue in recent years with the shift in focus to how to conduct monetary policy in a low and stable inflation environment. The concluding section outlines three steps that experience and research has led staff at the Bank of Canada to identify as helpful to policy makers in dealing with uncertainty and providing a sharper focus to discussions at key meetings on monetary policy.

The Role of Competitive Inhibition and Top-Down Feedback in Binding during Object Recognition

How does the brain bind together visual features that are processed concurrently by different neurons into a unified percept suitable for processes such as object recognition? Here, we describe how simple, commonly accepted principles of neural processing can interact over time to solve the brain’s binding problem. We focus on mechanisms of neural inhibition and top-down feedback. Specifically, we describe how inhibition creates competition among neural populations that code different features, effectively suppressing irrelevant information, and thus minimizing illusory conjunctions. Top-down feedback contributes to binding in a similar manner, but by reinforcing relevant features. Together, inhibition and top-down feedback contribute to a competitive environment that ensures only the most appropriate features are bound together. We demonstrate this overall proposal using a biologically realistic neural model of vision that processes features across a hierarchy of interconnected brain areas. Finally, we argue that temporal synchrony plays only a limited role in binding – it does not simultaneously bind multiple objects, but does aid in creating additional contrast between relevant and irrelevant features. Thus, our overall theory constitutes a solution to the binding problem that relies only on simple neural principles without any binding-specific processes

Accurate measurement of the time delay in the response of the LIGO gravitational wave detectors

We present a method to precisely calibrate the time delay in a long baseline gravitational-wave interferometer. An accurate time stamp is crucial for data analysis of gravitational wave detectors, especially when performing coincidence and correlation analyses between multiple detectors. Our method uses an intensity-modulated radiation pressure force to actuate on the mirrors. The time delay is measured by comparing the phase of the signal at the actuation point with the phase of the recorded signal within the calibrated data stream used for gravitational wave searches. Because the signal-injection path is independent of the interferometer's control system, which is used for the standard calibration, this method can be an independent verification of the timing error in the system. A measurement performed with the 4 km interferometer at the LIGO Hanford Observatory shows a 1 µs relative accuracy when averaging over 50 min. Our understanding of the systematic time delay in the detector response has reached the level of 10 µs

The significance of hazardous chemicals in wastewater treatment works effluents

This is the post-print version of the final paper published in Science of The Total Environment. The published article is available from the link below. Changes resulting from the publishing process, such as peer review, editing, corrections, structural formatting, and other quality control mechanisms may not be reflected in this document. Changes may have been made to this work since it was submitted for publication. Copyright @ 2012 Elsevier B.V.The advent of increasingly stringent and wider ranging European Union legislation relating to water and the environment has required regulators to assess compliance risk and to respond by formulating appropriate pollution control measures. To support this process the UK Water Industry has completed a national Chemicals Investigation Programme (CIP), to monitor over 160 wastewater treatment works (WwTWs) for 70 determinands. Final effluent concentrations of zinc, polynuclear aromatic hydrocarbons (fluoranthene, benzo(a)pyrene, benzo(b)fluoranthene, benzo(k)fluoranthene, benzo(g,h,i)perylene and indeno(1,2,3-cd)pyrene), “penta” congeners (BDEs) 47 and 99, tributyltin, triclosan, erythromycin, oxytetracycline, ibuprofen, propranolol, fluoxetine, diclofenac, 17β-estradiol and 17α-ethinyl estradiol exceeded existing or proposed Environmental Quality Standards (EQSs) in over 50% of WwTWs. Dilution by receiving water might ensure compliance with EQSs for these chemicals, apart from the BDEs. However, in some cases there will be insufficient dilution to ensure compliance and additional management options may be required

Appointments, pay and performance in UK boardrooms by gender

This article uses UK data to examine issues regarding the scarcity of women in boardroom positions. The article examines appointments, pay and any associated productivity effects deriving from increased diversity. Evidence of gender-bias in the appointment of women as non-executive directors is found together with mixed evidence of discrimination in wages or fees paid. However, the article finds no support for the argument that gender diverse boards enhance corporate performance. Proposals in favour of greater board diversity may be best structured around the moral value of diversity, rather than with reference to an expectation of improved company performance

Leaning in to Address Sleep Disturbances and Sleep Disorders in Department of Defense and Defense Health Agency

Letter to the Editor, Military Medicine, 187, 5/6:155, 202217 USC 105 interim-entered record; under review.The article of record as published may be found at http://dx.doi.org/10.1177/0018720820906050In their article entitled, “Engaging Stakeholders to Optimize Sleep Disorders Management in the U.S. Military: A Qualitative Analysis,” Abdelwadoud and colleagues conducted focus groups of service members, primary care managers (PCMs), and administrative stakeholders about their perceptions, experiences, roles in sleep management, stated education needs, and management of sleep disorders.1 The qualitative methods are rigorous, and the findings reinforce and nuance prior results, especially regarding key requirements from PCMs. We feel compelled, however, to further nuance the authors’ conclusion that “current military sleep management practices are neither satisfactory nor maximally effective” and offer specific examples of actions taken by the Department of Defense (DoD) and Defense Health Agency (DHA) in recognition of the significance of optimal sleep in combat readiness and overall health of service members. We offer here a succinct list of concrete efforts to support and implement substantial clinical, operational, research, or educational efforts by the DoD or DHA to improve sleep in service members and associated clinical challenges in this unique population.Identified in text as U.S. Government work

Autonomous tracking and sampling of the deep chlorophyll maximum layer in an open-ocean eddy by a long-range autonomous underwater vehicle

© The Author(s), 2020. This article is distributed under the terms of the Creative Commons Attribution License. The definitive version was published in Zhang, Y., Kieft, B., Hobson, B. W., Ryan, J. P., Barone, B., Preston, C. M., Roman, B., Raanan, B., Marin,Roman,,III, O'Reilly, T. C., Rueda, C. A., Pargett, D., Yamahara, K. M., Poulos, S., Romano, A., Foreman, G., Ramm, H., Wilson, S. T., DeLong, E. F., Karl, D. M., Birch, J. M., Bellingham, J. G., & Scholin, C. A. Autonomous tracking and sampling of the deep chlorophyll maximum layer in an open-ocean eddy by a long-range autonomous underwater vehicle. IEEE Journal of Oceanic Engineering, 45(4), (2020): 1308-1321, doi:10.1109/JOE.2019.2920217.Phytoplankton communities residing in the open ocean, the largest habitat on Earth, play a key role in global primary production. Through their influence on nutrient supply to the euphotic zone, open-ocean eddies impact the magnitude of primary production and its spatial and temporal distributions. It is important to gain a deeper understanding of the microbial ecology of marine ecosystems under the influence of eddy physics with the aid of advanced technologies. In March and April 2018, we deployed autonomous underwater and surface vehicles in a cyclonic eddy in the North Pacific Subtropical Gyre to investigate the variability of the microbial community in the deep chlorophyll maximum (DCM) layer. One long-range autonomous underwater vehicle (LRAUV) carrying a third-generation Environmental Sample Processor (3G-ESP) autonomously tracked and sampled the DCM layer for four days without surfacing. The sampling LRAUV's vertical position in the DCM layer was maintained by locking onto the isotherm corresponding to the chlorophyll peak. The vehicle ran on tight circles while drifting with the eddy current. This mode of operation enabled a quasi-Lagrangian time series focused on sampling the temporal variation of the DCM population. A companion LRAUV surveyed a cylindrical volume around the sampling LRAUV to monitor spatial and temporal variation in contextual water column properties. The simultaneous sampling and mapping enabled observation of DCM microbial community in its natural frame of reference.10.13039/501100008982 - National Science Foundation 10.13039/100000936 - Gordon and Betty Moore Foundation 10.13039/100000008 - David and Lucile Packard Foundation 10.13039/100016377 - Schmidt Ocean Institute 10.13039/100000893 - Simons Foundatio