This paper considers the estimation of the volatility of the instantaneous short interest rate from a new perspective. Rather than using discretely compounded market rates as a proxy for the instantaneous short rate of interest, we derive a relationship between observed LIBOR rates and certain unobserved instantaneous forward rates. We determine the stochastic dynamics for these rates under the...

Microwave brightness temperatures are obtained from the SeaWinds scatterometer on the QuikSCAT satellite. These QuikSCAT Radiometer (QRad) measurements are used to infer instantaneous oceanic rain rates using a statistical retrieval algorithm that is based upon collocated TMI measurements. QRad instantaneous rain rate measurements have been binned in 0.5 hour local time windows onto a 0.5° x 0....

In this article, we have studied the statistical properties of the instantaneous channel capacity of spatially correlated Nakagami-m channels for two different diversity combining methods, namely maximal ratio combining (MRC) and equal gain combining (EGC). Specifically, using the statistical properties of the instantaneous signal-tonoise ratio, we have derived the analytical expressions for th...