Central Bank Forex Interventions Assessed Using Realized Moments

This paper studies and assesses the impact of G3 Central Bank interventions on the DEM/USD exchange rate properties using daily realized moments of exchange rate returns (obtained from intraday data) for the period 1989-2001. Event studies in terms of the realized moments for the intervention day, the days preceding and following the intervention day illustrate the shape of this impact. Rolling regressions results for an ARFIMA model for realized moments are used to measure the intervention impact and characterize its significance.The analysis confirms previous findings of an increase of volatility after a coordinated Central Bank intervention. It highlights new findings on the timing and the persistence of coordinated interventions on exchange rate volatility, on important volatility spillovers, on the impact on exchange rate covariances and correlations and on skewness coefficients.Economics ;

Report on the lunar ranging at McDonald Observatory, 1 February - 31 May 1976

The four spring lunations produced 105 acquisitions, including the 2000th range measurement made at McDonald Observatory. Statistics were normal for the spring months. Laser and electronics problems are noted. The Loran-C station delay was corrected. Preliminary doubles data is shown. New magnetic tape data formats are presented. R and D efforts include a new laser modification design

Genesis of Atlantic Lows Experiment NASA Electra Boundary Layer Flights Data Report

The objective of this research was to obtain high resolution measurements of the height of the Marine Atmospheric Boundary Layer (MABL) during cold air outbreaks using an Airborne Lidar System. The research was coordinated with other investigators participating in the Genesis of Atlantic Lows Experiment (GALE). An objective computerized scheme was developed to obtain the Boundary Layer Height from the Lidar Data. The algorithm was used on each of the four flight days producing a high resolution data set of the MABL height over the GALE experiment area. Plots of the retrieved MABL height as well as tabular data summaries are presented

Phase resolved PLIF and chemiluminescence for measuring combustion dynamics

Transient behavior of combustion systems has long been a subject of both fundamental and practical concerns. Extreme cases of very rapid changes include the ignition of reacting mixtures and detonation. At the other extreme is a wide range of quasi-steady changes of behavior, for example adjustments of the operating point of a combustion chamber. Between the limiting cases of 'infinitely fast' and 'infinitesimally slow' lie important fundamental problems of time-dependent behavior and a wide array of practical applications. Among the latter are combustion instabilities and their active control, a primary motivation for the work reported in this paper. Owing to the complicated chemistry, chemical kinetics and flow dynamics of actual combustion systems, numerical simulations of their behavior remains in a relatively primitive state. Even as that situation continually improves, it is an essential part of the field that methods of measuring true dynamical behavior be developed to provide results having both fine spatial resolution and accuracy in time. This paper is a progress report of recent research carried out in the Jet Propulsion Center of the California Institute of Technology

Persistence of Innovation in Dutch Manufacturing: Is it Spurious?

This paper studies the persistence of innovation and the dynamics of innovation output in Dutch manufacturing using firm data from three waves of the Community Innovation Surveys (CIS), pertaining to the periods 1994-1996, 1996-1998, and 1998-2000. We estimate by maximum likelihood a dynamic panel data type 2 tobit model accounting for individual effects and handling the initial conditions problem. We find that there is no evidence of true persistence in achieving technological product or process innovations, while past shares of innovative sales condition, albeit to a small extent, current shares of innovative sales.Dynamic panel data type 2 tobit, Innovation, Spurious persistence