Based on this evidence, my colleagues and I (Oliveira, Elliott & Goodman, 2005) decided to investigate whether this
undershoot bias in sports precision skills might be a more of a phenomenon that could be happening right in front of our eyes in many real life skills.
In our current forecasts, the
undershoot is expected to last around four years, so there is a risk that we shall continue to be accused of being biased for some time to come.
The Liu equation provides a better prediction of the shear stress
undershoot. Though the
undershoot from the Liu equation is less abrupt than the measured behavior, its magnitude matches the experimental data.
Other MPC members, such as BoE Governor Sir Edward George, point out that despite the persistent
undershoot, inflation has remained remarkably close to target, never straying more than one percentage point above or below the 2.5 per cent goal.
While the deficit could
undershoot the OBR forecast this year, we fear it could overshoot it in the 2011-12 financial year - due to weaker than expected GDP growth."
He added: "The
undershoot may heighten the debate between the parties over Labour's planned pounds 6bn hike in national insurance in 2011 - the Conservatives may argue that the
undershoot supports their view that the hike can be avoided."
He believed it was "quite feasible" that rates would fall next month if the Bank's new economic forecasts suggest inflation will
undershoot the government's 2% target.
One warned that any
undershoot could drag shares lower.
Further pressure was put on the BoE when Sushil Wadwhani, independent member of the MPC and a noted dove, warned that it was again set to
undershoot its 2.5 per cent inflation target.
Employing a rule-based approach to eliminating temperature overshoot and
undershoot, this Adaptive Reset feature works by first "memorizing" each barrel zone's load compensation at various screw speeds.
More from Powell: the inflation
undershoot may be more persistent and hoped, and the softer inflation trends are an argument for easing policy, in comments following his speech.