33,660 research outputs found

    Atlas and zoogeography of common fishes in the Bering Sea and northeastern Pacific

    Get PDF
    The geographic and depth frequency distribution of 124 common demersal fish species in the northeastern Pacific were plotted from data on me at the Northwest and Alaska Fisheries Center (NWAFC), National Marine Fisheries Service. The data included catch records of fishes and invertebrates from 24,881 samples taken from the Chukchi Sea, throughout the Bering Sea, Aleutian Basin, Aleutian Archipelago, and the Gulf of Alaska, and from southeastern Alaska south to southern California. Samples were collected by a number of agencies and institutions over a 30-year period (1953-83), but were primarily from NWAFC demersal trawls. The distributions of all species with 100 or more occurrences in the data set were plotted by computer. Distributions plotted from these data were then compared with geographic and depth-range limits given in the literature. These data provide new range extensions (geographic, depth, or both) for 114 species. Questionable extensions are noted, the depth ranges determined for 95% of occurrences, and depths of most frequent occurrence are recorded. Ranges of the species were classified zoogeographically, according to life zone, and with regard to the depth zone of greatest occurrence. Because most species examined have broad geographic ranges, they do not provide the best information for testing the validity of proposed zoogeographic province boundaries. Because of the location of greatest sampling effort and methods used in sampling, most fIShes examined were eastern boreal Pacific, sublittoral-bathyal (outer shelf) species. (PDF file contains 158 pages.

    Identifying the New Keynesian Phillips Curve

    Get PDF
    Phillips curves are central to discussions of inflation dynamics and monetary policy. New Keynesian Phillips curves describe how past inflation, expected future inflation, and a measure of real marginal cost or an output gap drive the current inflation rate. This paper studies the (potential) weak identification of these curves under GMM and traces this syndrome to a lack of persistence in either exogenous variables or shocks. We employ analytic methods to understand the identification problem in several statistical environments: under strict exogeneity, in a vector autoregression, and in the canonical three-equation, New Keynesian model. Given U.S., U.K., and Canadian data, we revisit the empirical evidence and construct tests and confidence intervals based on exact and pivotal Anderson-Rubin statistics that are robust to weak identification. These tests find little evidence of forward-looking inflation dynamics.Phillips curve, Keynesian, identification, inflation

    The role of gesture delay in coda /r/ weakening: an articulatory, auditory and acoustic study

    Get PDF
    The cross-linguistic tendency of coda consonants to weaken, vocalize, or be deleted is shown to have a phonetic basis, resulting from gesture reduction, or variation in gesture timing. This study investigates the effects of the timing of the anterior tongue gesture for coda /r/ on acoustics and perceived strength of rhoticity, making use of two sociolects of Central Scotland (working- and middle-class) where coda /r/ is weakening and strengthening, respectively. Previous articulatory analysis revealed a strong tendency for these sociolects to use different coda /r/ tongue configurations—working- and middle-class speakers tend to use tip/front raised and bunched variants, respectively; however, this finding does not explain working-class /r/ weakening. A correlational analysis in the current study showed a robust relationship between anterior lingual gesture timing, F3, and percept of rhoticity. A linear mixed effects regression analysis showed that both speaker social class and linguistic factors (word structure and the checked/unchecked status of the prerhotic vowel) had significant effects on tongue gesture timing and formant values. This study provides further evidence that gesture delay can be a phonetic mechanism for coda rhotic weakening and apparent loss, but social class emerges as the dominant factor driving lingual gesture timing variation

    Great Moderation(s) and U.S. Interest Rates: Unconditional Evidence

    Get PDF
    The US economy experienced a Great Moderation sometime in the mid-1980s -- a fall in the volatility of output growth -- at the same time as a fall in both the volatility of inflation and the average rate of inflation. We put this moderation in historical perspective by comparing it to the post-WWII moderation. According to theory, the statistical moments -- both real and nominal -- that shift during these moderations in turn influence interest rates. We examine the predictions for shifts in the unconditional average of US interest rates. A central finding is that such shifts probably were due to changes in average inflation rather than to those in the variances of inflation and consumption growth.great moderation, asset pricing

    Identifying the New Keynesian Phillips curve

    Get PDF
    Phillips curves are central to discussions of inflation dynamics and monetary policy. New Keynesian Phillips curves describe how past inflation, expected future inflation, and a measure of real marginal cost or an output gap drive the current inflation rate. This paper studies the (potential) weak identification of these curves under generalized methods of moments (GMM) and traces this syndrome to a lack of persistence in either exogenous variables or shocks. The authors employ analytic methods to understand the identification problem in several statistical environments: under strict exogeneity, in a vector autoregression, and in the canonical three-equation, New Keynesian model. Given U.S., U.K., and Canadian data, they revisit the empirical evidence and construct tests and confidence intervals based on exact and pivotal Anderson-Rubin statistics that are robust to weak identification. These tests find little evidence of forward-looking inflation dynamics.

    Great moderations and U.S. interest rates: unconditional evidence

    Get PDF
    The Great Moderation refers to the fall in U.S. output growth volatility in the mid-1980s. At the same time, the United States experienced a moderation in inflation and lower average inflation. Using annual data since 1890, we find that an earlier, 1946 moderation in output and consumption growth was comparable to that of 1984. Using quarterly data since 1947, we also isolate the 1969–83 Great Inflation to refine the asset pricing implications of the moderations. Asset pricing theory predicts that moderations—real or nominal—influence interest rates. We examine the quantitative predictions of a consumption-based asset pricing model for shifts in the unconditional average of U.S. interest rates. A central finding is that such shifts probably were related to changes in average inflation rather than to moderations in inflation and consumption growth.Interest rates ; Inflation (Finance)

    The New Keynesian Phillips curve : lessons from single-equation econometric estimation

    Get PDF
    We review single-equation methods for estimating the hybrid New Keynesian Phillips curve (NKPC) and then apply those methods to U.S. quarterly data for 1955?2007. Estimating the hybrid NKPC by the generalized method of moments yields stable coefficients with a large role for expected future inflation. Measures of marginal costs better explain U.S. inflation than does a range of measures of the output gap. But estimates of the slope of the NKPC are imprecise and confidence intervals that are robust to weak identification are wide. Further research on measuring marginal costs may reconcile these mixed findings. A reconciliation is important if the NKPC is to remain a fundamental component of models of the monetary transmission mechanism.Inflation (Finance) ; Phillips curve

    Joint bidding, information pooling, and the performance of petroleum lease auctions / BEBR No.889

    Get PDF
    Includes bibliographical references (p. 22)

    Wage and Occupational Differences Between Black and White Men: Labor Market Discrimination in the Rural South

    Get PDF
    The existence of labor market discrimination based on race is well established.However, study continues into a variety of aspects of discrimination-among them the extent to which it exists in different regions. Gwartney has estimated the ratio of black to white earnings to be between .83 and .88 for the North and between .68 and .74 for the South. Masters, in a study of earnings differentials between black and white men, found a ratio of .79 for the non-South and .69 for the South. Although considerable literature has developed concerning earnings differentials, wage discrimination in rural areas is one topic which has received relatively little attention. In an attempt to eliminate this oversight this paper concentrates on the extent of wage differences between black and white men in the rural South attributable to labor market discrimination
    corecore