1,966 research outputs found
What do New-Keynesian Phillips Curves imply for price-level targeting?
Get PDFThis paper extends the analysis of price-level targeting to a model including the New-Keynesian Phillips Curve. We examine the inflation-output variability tradeoffs implied by optimal inflation and price-level rules. In previous work with the Neoclassical Phillips Curve, we found that the choice between inflation targeting and price-level targeting depended on the amount of persistence in the output gap. That is, if the output gap was not too persistent, or if lagged output did not enter the aggregate supply function, then inflation targets were preferred to price-level targets. When we start with a New-Keynesian Phillips Curve, the amount of persistence in the output gap still affects the relative placement of the inflation-output variability tradeoff. But, contrary to the Neoclassical case, even where the persistence of the output gap in the aggregate supply function is small or nonexistent, the price-level- targeting regime still results in a more favorable tradeoff between output and inflation variability than does an inflation-targeting regime.Phillips curve ; Monetary policy ; Inflation (Finance)
What do New-Keynesian Phillips Curves imply for price level targeting?
Get PDFThis paper extends the analysis of price level targeting to a model including the New-Keynesian Phillips Curve. We examine the inflation-output variability tradeoffs implied by optimal inflation and price level rules. In previous work with the Neoclassical Phillips Curve, we found that the choice between inflation targeting and price level targeting depended on the amount of persistence in the output gap. That is, if the output gap was not too persistent, or if lagged output did not enter the aggregate supply function, then inflation targets were preferred to price level targets. When we start with a New Keynesian Phillips Curve, the amount of persistence in the output gap still affects the relative placement of the inflation-output variability tradeoff. But, contrary to the Neoclassical case, even where the persistence of the output gap in the aggregate supply function is small or nonexistent, the price level targeting regime still results in a more favorable tradeoff between output and inflation variability than does an inflation-targeting regime.Phillips curve ; Monetary policy ; Inflation (Finance)
Letter from J. E. Gavin to Louis C. Cramton regarding Sale of Bright Angel Trail
No full textLetter from J. E. Gavin to Louis C. Cramton regarding the Bright Angel Trail controversy, including newspaper clipping
Letter from B. F. Gavin (for Carl Hayden) to Stephen Mather, National Park Service
No full textLetter from Mrs. B. F. Gavin to Stephen Mather regarding the sale of Bass properties to the Santa Fe Railroad Company
Forecasting inflation and output: comparing data-rich models with simple rules
Get PDFThere has been a resurgence of interest in dynamic factor models for use by policy advisors. Dynamic factor methods can be used to incorporate a wide range of economic information when forecasting or measuring economic shocks. This article introduces dynamic factor models that underlie the data-rich methods and also tests whether the data-rich models can help a benchmark autoregressive model forecast alternative measures of inflation and real economic activity at horizons of 3, 12, and 24 months ahead. The authors find that, over the past decade, the data-rich models significantly improve the forecasts for a variety of real output and inflation indicators. For all the series that they examine, the authors find that the data-rich models become more useful when forecasting over longer horizons. The exception is the unemployment rate, where the principal components provide significant forecasting information at all horizons.Inflation (Finance) ; Economic forecasting
Effects of intra-amygdala R(+) 7-OH-DPAT on intra-accumbens d- amphetamine-associated learning II. Instrumental conditioning
No full textRats were trained to associate an initially neutral conditioned stimulus (CS) with a response-independent, intra-accumbens infusion of d-amphetamine (the unconditioned stimulus; US). Elsewhere, we have reported that as a result of this training, presentations of the CS alone elicited a conditioned response consisting of increased locomotor activity and that acquisition of this conditioned response was enhanced by post-session, intra-amygdala infusion of the dopamine D3receptor preferring agonist, R(+) 7-OH-DPAT. Here, in this same group of animals, we have examined the conditioned rewarding properties of the drug-associated CS by determining its ability to support the acquisition of a novel instrumental response in the absence of drug reward. Thus, rats were presented with two novel levers. Presentation of the drug-associated CS was made contingent upon depression of one of the levers (CR lever), while responding upon the other lever (NCR lever) had no programmed consequences. Preferential responding upon the lever delivering the drug-associated CS was observed despite a 6-week interval between CS-US training and the conditioned reward test. Intra-accumbens administration of d-amphetamine (0-20 Î1⁄4g) increased the control over behaviour exerted by the CS, increasing CR, but not NCR lever responding. In contrast, rats that received three pairings of an intra-accumbens infusion of d-amphetamine in combination with intra-amygdala infusion of R(+) 7-OH-DPAT, 3 weeks prior to testing, displayed similar rates of response upon both levers and were insensitive to the potentiation of responding for conditioned reward following intraaccumbens d-amphetamine. However, intra-accumbens d- amphetamine stimulated locomotor activity in a similar, dose-related manner in both groups. In this way, rats that had received intra-accumbens infusion of d-amphetamine in combination with intra-amygdala infusion of R(+) 7-OH- DPAT appeared exactly like control group rats, for which the CS had been paired with intra-accumbens d-amphetamine on a negative basis only. A locomotor activity test indicated that one behavioural consequence of intra- amygdala administration of R(+) 7-OH-DPAT was the reduction of the unconditioned locomotor response resulting from intra-accumbens administration of d-amphetamine. Hence, the present data demonstrate that the conditioned rewarding properties of a drug-associated CS are specific to the CS-US association and are relatively insensitive to decay over time. However, the rewarding properties of a drug-associated CS were selectively abolished following activation of amygdala D3receptors during presentation of the drug reward. Potential explanations for this effect are discussed, including the possibility that intra-amygdala R(+) 7-OH-DPAT reduced the incentive value of the US
Letter from J. E. Gavin (for Senator Hayden) to Roy W. James, Michael Hanley and H. A. Montgomery
No full textLetter from J. E. Gavin on behalf of Carl Hayden writing in regards to the insurance claims filed with the National Park
The first statewide, open access dataset tracking public records requests in New Jersey
No full textState freedom of information laws are vital mechanisms for providing public access to government records and supporting civic engagement through the effectuation of a public policy of transparency at the state level within the United States, not unlike their federal counterpart, the Freedom of Information Act (FOIA). New Jersey state law facilitates public access to government records under the Open Public Records Act (OPRA). Codified at N.J.S.A. 47:1A-1 et seq., OPRA applies to state, county and local public authorities but exempts the judicial and legislative branches from its disclosure requirements. Since OPRA took effect in 2002, it has been difficult to track the full extent of law's impact across New Jersey's 21 counties, 565 municipalities, and numerous state agencies, school districts and independent authorities, all of which must individually respond to requests under the law. To the best of the author's knowledge, no official source has compiled detailed metadata tracking the content and disposition of OPRA requests at the state, regional and municipal levels within New Jersey using individual requests, and authorities rarely proactively disclose their responses to requests they receive, necessitating further data collection to support research into the impacts of this law. This article presents the OPRAmachine dataset: data containing detailed metadata on public records requests submitted to state & local public authorities in New Jersey since October 2017 collected through the implementation of information and communication technologies (ICT) to facilitate the freedom of information request process. The data was collected using an open-source web interface that allowed users to submit an OPRA request to public authorities, with responses stored in a database and made available via the internet. After their request received a response, users were asked to answer a single survey question describing the status of their request, with their answer used to classify the request. Descriptive statistics, tables and frequencies were produced for the dataset and are included in this article. These data will assist state policymakers and other interested parties with assessing trends in OPRA requests across multiple types of public authorities & geographic regions. These data can inform more efficient government records management procedures, foster civic engagement by increasing government transparency and can inform the development of possible reforms to the OPRA law by showing trends in requests & responses that can be used to evaluate the law's implementation throughout the state.Peer reviewe
Global Ageing
No full textPopulations are growing older in nearly all the countries of the world. Ageing is not only results from the increased longevity, but also from the combination of decreasing mortality and declining fertility. On the other hand, ageing process could reflect some extent of socioeconomic development, social conditions and education across the world as population have been ageing for over a century in more developed countries and the current ageing process began recently in most less developed countries (Kinsella and Phillips, 2005). This chapter focuses on four aspects of geographical gerontology perspective of global ageing. First, we introduce the patterns and diversity of global ageing; second, we discuss older people in emergency situations across the world; third, globally climate change issues and health of older people; and fourth, we consider the contemporary socio-technological trends such as increased mobility and interconnectedness for older people
The Social Construction of the Child Sex Offender Explored by Narrative
Get PDFThe notion of "child sex offender" provokes aversion, but it may be that it is a social construction. We suggest that a Dominant narrative, in which child sex offenders are constructed as irredeemable, persists, despite the emergence of assumption challenging Alternative narratives. A story completion method was used to elicit themes of Dominant or Alternative narratives, theory-led thematic analysis was used to identify them. The use and analysis of narrative and free-form stories are well established in social research, but remain a novel concept in the study of offenders. The results support the persistence of the Dominant narrative with two notable exceptions. Conclusions centre on utility of the narrative method to examine offender constructions, and the pervasiveness of Dominant narratives. Key Words: Dominant and Alternative Narrative, Social Construction, Child Sex Offenders, and Thematic Analysi
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