The Rocky Ride of Break-even-inflation rates.

The correlation matrix between break-even inflation rate movements and real interest rate movements across several countries shows puzzling features. Correlation is significantly positive for nearly all cross-border pairs whereas it is nil, positive or negative unsystematically within countries. By means of a correlation matrix decomposition, we provide an explanation for this puzzle.Inflation-linked bonds ; Break-even inflation rates

Multimedia information technology and the annotation of video

The state of the art in multimedia information technology has not progressed to the point where a single solution is available to meet all reasonable needs of documentalists and users of video archives. In general, we do not have an optimistic view of the usability of new technology in this domain, but digitization and digital power can be expected to cause a small revolution in the area of video archiving. The volume of data leads to two views of the future: on the pessimistic side, overload of data will cause lack of annotation capacity, and on the optimistic side, there will be enough data from which to learn selected concepts that can be deployed to support automatic annotation. At the threshold of this interesting era, we make an attempt to describe the state of the art in technology. We sample the progress in text, sound, and image processing, as well as in machine learning

Sub-Poissonian Shot Noise In A Diffusive Conductor

A review is given of the shot-noise properties of metallic, diffusive conductors. The shot noise is one third of the Poisson noise, due to the bimodal distribution of transmission eigenvalues. The same result can be obtained from a semiclassical calculation. Starting from Oseledec's theorem it is shown that the bimodal distribution is required by Ohm's law.Comment: 9 pages, LaTeX, including 2 figure

Dynamic time series binary choice

This paper considers dynamic time series binary choice models. It shows in a time series setting the validity of the dynamic probit likelihood procedure when lags of the dependent binary variable are used as regressors, and it establishes the asymptotic validity of Horowitz' smoothed maximum score estimation of dynamic binary choice models with lags of the dependent variable as regressors. The latent error is explicitly allowed to be correlated. It turns out that no long-run variance estimator is needed for the validity of the smoothed maximum score procedure in the dynamic time series framework. One novel aspect of this paper is a proof that weak dependence properties hold for dynamic binary choice models with correlated errorsbinary choice; near epoch dependence; asymptotic theory; smoothed maximum score

Dynamic time series binary choice

This paper considers dynamic time series binary choice models. It proves near epoch dependence and strong mixing for the dynamic binary choice model with correlated errors. Using this result, it shows in a time series setting the validity of the dynamic probit likelihood procedure when lags of the dependent binary variable are used as regressors, and it establishes the asymptotic validity of Horowitz?smoothed maximum score estimation of dynamic binary choice models with lags of the dependent variable as regressors. For the semiparametric model, the latent error is explicitly allowed to be correlated. It turns out that no long-run variance estimator is needed for the validity of the smoothed maximum score procedure in the dynamic time series framework.

Doubled Shot Noise In Disordered Normal-Metal-Superconductor Junctions

The low-frequency shot-noise power of a normal-metal-superconductor junction is studied for arbitrary normal region. Through a scattering approach, a formula is derived which expresses the shot-noise power in terms of the transmission eigenvalues of the normal region. The noise power divided by the current is enhanced by a factor two with respect to its normal-state value, due to Cooper-pair transport in the superconductor. For a disordered normal region, it is still smaller than the Poisson noise, as a consequence of noiseless open scattering channels.Comment: 4 pages, RevTeX v3.0, including 1 figure, Submitted to Physical Review

Fluency in dialogue: Turn‐taking behavior shapes perceived fluency in native and nonnative speech

Fluency is an important part of research on second language learning, but most research on language proficiency typically has not included oral fluency as part of interaction, even though natural communication usually occurs in conversations. The present study considered aspects of turn-taking behavior as part of the construct of fluency and investigated whether these aspects differentially influence perceived fluency ratings of native and non-native speech. Results from two experiments using acoustically manipulated speech showed that, in native speech, too ‘eager’ (interrupting a question with a fast answer) and too ‘reluctant’ answers (answering slowly after a long turn gap) negatively affected fluency ratings. However, in non-native speech, only too ‘reluctant’ answers led to lower fluency ratings. Thus, we demonstrate that acoustic properties of dialogue are perceived as part of fluency. By adding to our current understanding of dialogue fluency, these lab-based findings carry implications for language teaching and assessmen