We study the asymptotic distribution of three-step estimators of a …nite dimensional parameter vector where the second step consists of one or more nonparametric regressions on a regressor that is estimated in the …rst step. The …rst step estimator is either parametric or non-parametric. Using Newey’s (1994) path-derivative method we derive the contribution of the …rst step estimator to the in‡...

Moody’s databases of corporate issuers of long term bonds and structured products are used to estimate asset correlations across a group of sectors, world regions and products. The estimation of a dynamic factor model for default risk is performed using Bayesian methods. Results indicate that a two factor model rather than the one factor model, as proposed by the Basel II framework, better repr...

Policy Evaluation and Economic Policy Advice Arguably, one of the most important developments in the field of applied economics during the last decades has been the emergence of systematic policy evaluation, with its distinct focus on the establishment of causality. By contrast to the natural sciences, the objects of our scientific interest typically exert some influence on their treatment stat...

A three-dimensional nonlinear finite-element model of a 22-day-old newborn ear canal is presented. The geometry is based on a clinical x-ray CT scan. A nonlinear hyperelastic constitutive law is applied to model large deformations. The Young's modulus of the soft tissue is found to have a significant effect on the ear-canal volume change, which ranges from approximately 27% to 75% over the stat...

Arguably, one of the most important developments in the field of applied economics during the last decades has been the emergence of systematic policy evaluation, with its distinct focus on the establishment of causality. By contrast to the natural sciences, the objects of our scientific interest typically exert some influence on their treatment status under the policy to be evaluated and on th...

Policy Evaluation and Economic Policy Advice Arguably, one of the most important developments in the field of applied economics during the last decades has been the emergence of systematic policy evaluation, with its distinct focus on the establishment of causality. By contrast to the natural sciences, the objects of our scientific interest typically exert some influence on their treatment stat...

and plasmalogen compounds and sphingomyelin was computed from the analysis of the fractions. 3. Choline plasmalogen was present in similar proportions in the whole muscle and myofibrils of rabbit muscle, but was virtually absent from trout muscle. 4. The constituent fatty acids and aldehydes from the separated phospholipids and some triglyceride fractions were identified and estimated by gas ch...