The lemons model assumes that owners of used cars have an informational advantage over potential buyers with respect to the quality of their vehicles. Owners of bad cars will try to sell them to unsuspecting buyers while owners of good cars will hold on to theirs. Consequently, the quality of traded automobiles should be sub-average. In contrast to previous work, the following paper tests both ...

Phosphorothioate (NTPalphaS) analogues were incorporated into the HDV genomic ribozyme by transcription with T7 polymerase. The introduction of a sulfur in place of the pro-Rp oxygen at the phosphate 5'to positions A64, A63, A43, U27, G62, C61, C44, C41, C22and C21appeared to inhibit self-cleavage activity of the G73 genomic ribozyme. Except for position C22, elevated levels of Mg2+rescued the ...

Scarring Effects of Remaining Unemployed for Long-Term Unemployed School-Leavers This study investigates whether and to what extent further unemployment experience for youths who are already long-term unemployed imposes a penalty on subsequent labor market outcomes. We propose a flexible method for analyzing the effect on wages aside of transitions from unemployment and employment within a mult...

In this paper, we use high-frequency data on five frequently traded stocks listed on the New York Stock Exchange (NYSE) in the year 1999 to examine the price impact of trades and its relation to the trading intensity. We show that the distribution of the absolute price change with fast trading firstorder stochastically dominates the distribution of the absolute price change with slow trading. M...

Translation initiation from the ribosomal P-site is the specialty of the initiator tRNAs (tRNA(fMet)). Presence of the three consecutive G-C base pairs (G29-C41, G30-C40 and G31-C39) in their anticodon stems, a highly conserved feature of the initiator tRNAs across the three kingdoms of life, has been implicated in their preferential binding to the P-site. How this feature is exploited by ribos...

A Simple GMM Estimator for the Semi-Parametric Mixed Proportional Hazard Model Ridder and Woutersen (2003) have shown that under a weak condition on the baseline hazard there exist root-N consistent estimators of the parameters in a semiparametric Mixed Proportional Hazard model with a parametric baseline hazard and unspecified distribution of the unobserved heterogeneity. We extend the Linear ...

This paper aims to develop a hybrid model for forecasting electrical energy consumption of households based on Particle Swarm Optimization (PSO) algorithm associated with the Grey and Adaptive Neuro-Fuzzy Inference System (ANFIS). proposes new Grey-ANFIS-PSO that is historical data from smart meters in order estimate improve accuracy consumption. will be characterized by coefficients such as Ro...

In this paper we study how corporate bond defaults can be predicted using financial ratios and how the forecasted probability of default relates to the cross-section of expected stock returns. Using several performance measures we find that the duration model outperforms existing models in correctly classifying both Default and Non-Default firms. Using the default probabilities predicted by our...