Suppose one has a sample of high-frequency intraday discrete observations of a continuous time random process, such as foreign exchange rates and stock prices, and wants to test for the presence of jumps in the process. We show that the power of any test of this hypothesis depends on the...

The power loss of a wind turbine due to wakes from upstream turbines is significant for a wind farm. This power loss is usually about 20% of wind turbine power, and this can increase to 40% for an extreme case. Such effects decrease the annual energy production of a wind farm. Thus, it is...

Estimates of the slope of the Phillips curve reported in the literature cover a range from roughly − 0.6 to zero depending on specification. Forward-looking specifications, favored by theory, produce the smallest slope estimates. This paper addresses this puzzle by studying the bivariate...