Realistic considerations of certain stochastic service systems often warrant the introduction of random changes in the intensity of the input process. A typical example of a changing arrival rate system is a communicat ion network with a sudden unpredictable increase in the traffic due to an external phenomenon. Such a situation can occur in a telephone network where a switching exchange node h...

I develop an extension of the standard New Keynesian model to monetary policy regime switching to study the impact of uncertainty around the future inflation target. First, I fully characterize how the responses of current inflation and output to inflation target uncertainty depend on the monetary policy rule. If monetary policy is passive, inflation may increase far beyond the anticipated incr...

Vivien Kirk, Department of Mathematics, University of Auckland, Private Bag 92019, Auckland, New Zealand Emily Lane, National Institute of Water and Atmospheric Research, P O Box 8602, Christchurch, New Zealand Claire M. Postlethwaite, Department of Mathematics, University of Auckland, Private Bag 92019, Auckland, New Zealand Alastair M. Rucklidge, Department of Applied Mathematics, University ...

This study explores how identical final CV syllables in C1VC3V C2VC3V word pairs affect speech error patterns. Recent kinematic studies have shown that speakers frequently added non-intended movements to intended articulatory movements during the first consonants of C1VC3 C2VC3 syllables or reduce the range of the intended movements [1, 2, 3]. This effect was especially strong in syllables that...

It is usually acknowledged that firms benefit from a large customer base when consumers face costs of switching the supplier. Klemperer (1995) points out that this may not be true if an increase in the size of a firm’s customer base induces fiercer price competition, possibly making the firm worse off. This paper shows that such an outcome is not a mere theoretical possibility but may be empiri...

Online experimentation has been shown to be a reliable method for collecting data quickly and easily. Nevertheless, it is a method of data collection that can have a negatively affect confidence in results because of the loss of experimental control that comes with moving experiments online. To relieve these concerns, researchers have developed a number of tools and techniques for evaluating th...

Using Markov-switching model, five return regimes are statislically determined for the monthly stock returns covering the period 1926 to 1992 and probabilistic inferences about these regimes are drawn. The results provide no support for the existence of the January effect. To account for the small-firm effect, again Markov-switching model Is applied to ten portfolios sorted by market value deci...

We propose a new method of modeling the relationship between on-time performance and market share in the airline industry. The idea behind the method is that the passengersÕ decision to remain (use same airline) or switch (use other airlines) at time t depends on whether they have experienced ̄ight delays at time t ÿ 1 or not. More speci®cally, we posit that the passengers who experienced ̄ight...