The views expressed are those of the individual authors and do not necessarily reflect official positions of the Federal Reserve Bank of St. Louis, the Federal Reserve System, or the Board of Governors.
The hypothesis that New Zealand 90-day bank bill futures rates are an unbiased predictor of 90-day bank bill rates is tested by applying the single-equation method of Stock and Watson (1993) to quarterly data from 1989 to 1997. The results do not reject the unbiasedness hypothesis for the one and two-quarter-ahead horizons tested. However, the estimated… (More)
Triangular meshes often contain a few salient features. Traditional deformation algorithms mainly preserve the local details and volume, thus producing unnatural results. This paper proposes a robust and effective algorithm to prevent the distortion of salient features. Firstly, the salient features can be automatically extracted through saliency-based… (More)