Search results for "error"
showing 10 items of 1643 documents
The Euro-Dollar Exchange Rate: Is it Fundamental?
2002
In this paper we have applied two approaches to the study of the dollar real exchange rate in relation with the Euro-area currencies. First, using dynamic panel techniques, we estimate an error correction model for the dollar real exchange rate versus seven developed countries, four of them Euro-area members. Second, we aggregate the European variables and estimate a model for the Euro-dollar real exchange rate using time series techniques. After identification and model selection, the same specification can be adopted in the two cases, in an eclectic model including real interest rate and productivity differentials, together with relative fiscal policy and net foreign asset positions. This…
Stock Earnings and Bond Yields in the US 1871 - 2016: The Story of a Changing Relationship
2018
Using historical data that spans almost 150 years, we examine whether there is a long-run equilibrium relationship between the stock's earnings and bond yields. The novelty of our econometric methodology consists in using a vector error correction model where we allow multiple structural breaks in the equilibrium relationship. The results of our analysis suggest the existence of equilibrium relationship over 1871-1929 and 1958-2017. On the two historical segments, our analysis finds that the stock's earnings yield followed the bond yield in both the short- and long-run, but not the other way around. Perhaps the most important and surprising finding of our empirical study is that, after the …
Demography and Economic Growth in Spain: A Time Series Analysis
2003
In this paper, advanced time series econometric tools are employed to test the existence of relationships among demographic and macroeconomic variables in Spain along the 1960-2000 period. Annual data for the total fertility rate, infant mortality rate, per capita gross domestic product and wages are used in the empirical analysis. We first examine the bivariate Granger causality to look for short run relations. Then, a multivariate cointegration analysis is carry out, showing that two long run relationships among the variables exist with statistically significant coefficients. From these cointegration vectors, the vector error correction model is estimated to test the endogenous or exogeno…
Learning Processes in the Control Theory
1994
Agent's actions as a classification criteria for the state space in a learning from rewards system
2008
We focus in this paper on the problem of learning an autonomous agent's policy when the state space is very large and the set of actions available is comparatively short. To this end, we use a non-parametric decision rule (concretely, a nearest-neighbour strategy) in order to cluster the state space by means of the action that leads to a successful situation. Using an exploration strategy to avoid greedy behaviour, the agent builds clusters of positively-classified states through trial and error learning. In this paper, we implement a 3D synthetic agent which plays an 'avoid the asteroid' game that suits our assumptions. Using as the state space a feature vector space extracted from a visua…
On the role of procrastination for machine learning
1992
Feedback adaptation in web-based learning systems
2007
Feedback provided by a learning system to its users plays an important role in web-based education. This paper presents an overview of feedback studies and then concentrates on the problem of feedback adaptation in web-based learning systems. We introduce our taxonomy of feedback concept with regard to its functions, complexity, intention, time of occurrence, way of presentation, and level and way of its adaptation. We consider what can be adapted in feedback and how to facilitate feedback adaptation in web-based learning systems.