This article presents a new model of mortgage prepayments, based on rational decisions by mortgage holders. These mortgage holders face heterogeneous transaction costs, which are explicitly modeled. The model is estimated using a version of Hansen's (1982) generalized method of moments, and shown to capture many of the empirical features of mortgage prepayment. Estimation results indicate that ...

SUMTIME-MOUSAM is a Natural Language Generation (NLG) system that produces textual weather forecasts for offshore oilrigs from Numerical Weather Prediction (NWP) data. It has been used for the past year by Weathernews (UK) Ltd for producing 150 draft forecasts per day, which are then post-edited by forecasters before being released to end-users. In this paper, we describe how the system works, ...

94 Production from heavy-oil fields in the UK continental shelf (UKCS) has become possible over the past 10 years. Despite substantial reserves in the UKCS of crudes with gravitiy of 20°API and lower, most of the activity has been exploration and appraisal drilling. The main reason for restricted activity has been high uncertainty of reservoir and fluid properties. A method was developed to fin...

Abstract. A popular modeling technique in mortgage banking involves regarding mortgage terminations observed in a continuously replenished system (such as a servicing portfolio) as a Markov process of …nite order k > 0 with values in a …nite state space. In this article, we consider the rami…cations of such an assumption. In particular,we conduct hypothesis tests of long-range dependence on a w...

Seventy-seven microorganisms were examined for their ability to metabolize the antineoplastic agent N-methylcolchiceinamide, an analog of colchicine. Five streptomycetes exhibited significant metabolism, and Streptomyces griseus NRRL B-599 completely converted the substrate to three metabolites. In preparative-scale studies, N-dealkylation resulted in the production of colchiceinamide, the majo...

1 Centre for Cognitive Ageing and Cognitive Epidemiology, University of Edinburgh, 7 George Square, Edinburgh EH8 9JZ, UK 2 Department of Psychology, University of Edinburgh, 7 George Square, Edinburgh, EH8 9JZ, UK 3 Division of Psychiatry, University of Edinburgh, Edinburgh, EH10 5HF, UK 4 Medical Genetics Section, University of Edinburgh Centre for Genomics and Experimental Medicine and MRC I...

its membership – one of them contributed to the withdrawal of the arthritis drug Vioxx. With this track record, and the option to bank on some degree of community spirit among its membership, Kaiser Permanente may find it easier to gain the trust of the target population than the UK Biobank did. They also may want to find a different name for the project, for who would trust a bank these days? ...

A heterogeneous target disease represented by multiple descriptors and disease subtypes frequently has a rich internal dependency structure. The identification of comorbidities and particularly the multimorbidities of such diseases requires very large sample size as relevant comorbidities may form complex interactions. We demonstrate this phenomena by applying a Bayesian probabilistic graphical...

We consider the possibility of using measurements of anomalous magnetic moments of elementary particles as a possible test of the Einstein Equivalence Principle (EEP). For the class non-metric theories of gravity described by the T Hǫµ formalism we find several novel mechanisms for breaking the EEP, and discuss the possibilities of setting new empirical constraints on such effects.