Varying Monetary Policy Regimes: A Vector Autoregressive Investigation

Recently, two stylized facts about the behavior of the U.S. economy have emerged: first, macroeconomic aggregates appear to be less volatile post-1984 than in the preceding two decades; second, monetary policy appears more responsive to inflationary pressures—and thereby more “stabilizing” — during the Volcker/Greenspan chairmanships relative to earlier regimes. Does a causal relationship exist between these two observations? In particular, has “better” policy by the Federal Reserve Board contributed significantly to the lessened volatility of the U.S. economy? This paper uses a structural vector autoregressive (VAR) specification to address these questions, examining the advantages and limitations of such an approach. In contrast with much of the existing research on these topics, I find that most of the quantitatively significant changes in volatility are attributed to breaks in the non-policy portion of the structural VAR, and not to the identified policy equation.Monetary policy reaction function, structural VAR models, Taylor rule, Volcker disinflation, parameter instability

OGO-6 experiment F-03

The results obtained with the retarding potential analyzer on the OGO-6 satellite are discussed. The information obtained during the OGO-6 flight concerned the following subjects: (1) measurement of electron flux density in the plasmasphere, (2) latitudinal variations of ion temperature, (3) heating in the nighttime ionosphere by conjugate photoelectrons, (4) longitudinal variation in equatorial ion temperature at low altitude, and (5) identification of heavy ions in the upper F region

Food Stamp Benefits Adjust to Earnings with and without Cross-Program Effects from TANF and SSI Cash Assistance

As households participating in the Food Stamp Program and other public assistance programs work more, the additional earnings are partially offset by a reduction in food stamp benefits and cash assistance from Temporary Assistance for Needy Families (TANF) or Supplemental Security Income (SSI). The rate at which food stamp benefits and TANF or SSI cash assistance are reduced with an increase in earnings is referred to as the programs effective benefit reduction rate (EBRR). This report derives FSP EBRRs for earnings with and without cross-program effects from adjustments to TANF or SSI cash assistance due to the additional earnings. The estimated FSP EBRRs are combined with TANF EBRRs and SSI EBRRs to estimate an effective tax rate on earnings in terms of these program benefits. With the authority for TANF programs devolved to States in 1996 Welfare Reform Law, FSP and TANF EBRRs as well as effective tax rates on earnings will vary by State. This report illustrates the treatment of earnings among these programs and the variation in treatment across states.Food Consumption/Nutrition/Food Safety,

Extragalactic Foreground Contamination in Temperature-based CMB Lens Reconstruction

We discuss the effect of unresolved point source contamination on estimates of the CMB lensing potential, from components such as the thermal Sunyaev-Zel'dovich effect, radio point sources, and the Cosmic Infrared Background. We classify the possible trispectra associated with such source populations, and construct estimators for the amplitude and scale-dependence of several of the major trispectra. We show how to propagate analytical models for these source trispectra to biases for lensing. We also construct a "source-hardened" lensing estimator which experiences significantly smaller biases when exposed to unresolved point sources than the standard quadratic lensing estimator. We demonstrate these ideas in practice using the sky simulations of Sehgal et. al., for cosmic-variance limited experiments designed to mimic ACT, SPT, and Planck

Medical Students\u27 Knowledge of Midwifery Practice After Didactic and Clinical Exposure

Information concerning the student outcomes of interdisciplinary education is limited. The purpose of this study was to identify the knowledge of third‐year medical students regarding the practice of certified nurse‐midwives (CNMs). A 1‐page survey instrument was developed and pretested. The instrument was administered as a pre‐ and posttest at the beginning and end of 7 Obstetrics and Gynecology rotations at 2 medical school clinical campuses of a large Midwestern medical school. Direct interaction with CNMs improved knowledge of collaborative practice arrangements and roles. This was particularly evident in knowledge areas related to CNM prescriptive authority. The medical students who had direct experience with CNMs expressed more interest in working with them in the future than those who lacked the exposure. Collaborative, interdisciplinary education of medical students appeared to promote improved understanding of roles and capabilities

Understanding Retention among Private Baccalaureate Liberal Arts Colleges

This paper attempts to analyze the explanatory variables that best explain retention among liberal arts colleges. Using the model’s estimated parameters, the effects of Standardized Test Scores, average loans, educational related expenditures, average grants, and acceptance rate were calculated. This study concludes that increases in average grants, educational related expenditures, along with increases in Standardized Test Scores will lead to higher levels of retention among Baccalaureate Private Colleges. Taken together, these calculations indicate the degree of importance each explanatory variable has on the retention across Private Liberal Arts Colleges. This study compares the results of a cross sectional data set and a panel data set in order to properly examine the validity of the both outcomes. This analysis is intended to help Baccalaureate Private Colleges understand the factors that lead a student to drop out, as well as the factors that can enhance the college’s ability to successfully retain students

Worship and the Ministry of Reconciliation: Turning Walls into Tables

(Excerpt) Thank you for the invitation to be with you. One regret I have had, not the only one, is that I have never attended the Institute of Liturgical Studies. Each spring my colleague, William Beckstrand, the cantor at University Lutheran Church of Hope, Minneapolis, would begin to invite and encourage me to join him for his annual journey to the institute at Valparaiso University. As I worked with Bill I began to realize that this event was like a pool of refreshing water that beckoned him through the often taxing days of Lent, Holy Week, and Triduum- I know I can do this .... I know I can do this because soon I will be at Valpo ..

Granitic rocks and metasediments in Archean crust, Rainy Lake area, Ontario: ND isotope evidence for mantle-like SM/ND sources

Granitoids, felsic volcanic rocks and clastic metasediments are typical rocks in Archean granite-greenstone belts that could have formed from preexisting continentasl crust. The petrogenesis of such rocks is assessed to determine the relative roles of new crust formation or old crust formation or old crust recycling in the formation of granite-greenstone belts