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The income velocity of money in several countries such as Sweden, the United States and Great Britain, displays a U-shaped pattern for the last one hundred years. This paper proposes an explanation of this secular behavior based on an extension of Wicksell’s work on velocity emphasizing the influence of institutional changes. The secular fall in velocity in the last half of the 19th century and th
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The vehicle-estimation problem is approached by fusing measurements from wheel encoders, an inertial measurement unit, and (optionally) a global positioning system in a Rao-Blackwellized particle filter. In total 14 states are estimated, including key variables in active safety systems, such as longitudinal velocity, roll angle, and wheel slip for all four wheels. The method only relies on kinemat