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This paper proposes a new channel estimation method for the expectation-maximization (EM) algorithm applied to an OFDM receiver. Conventional schemes using the EM algorithm assume the random walk model as a process equation of a channel impulse response, and thus have insufficient tracking ability to fading fluctuation over fast fading channels. To improve the tracking ability, the proposed channel estimation method employs the differential model having the first and higher order differentials of the channel impulse response with respect to time. Computer simulations under the fast fading condition demonstrate that the proposed method is much superior in packet error rate to the conventional schemes employing the random walk model.