2,144 research outputs found

    Robust Estimation of the Joint Consumption / Asset Demand Decision

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    The paper proposes an instrumental variables version of the Huber estimator as an alternative to the IV-Krasker Welsch estimator. The IV-Huber estimator is analytically and computationally much simpler than IV-Krasker Welsch. In the context of an empirical study of the importance of borrowing constraints on consumption, the paper reports the results for the following estimators: 1) conventional (non-robust) IV, 2) conventional IV after the subjective rejection of outliers, 3) conventional IV after trimming, 4) IV-Huber, and 5) IV-Krasker-Welsch. In the presence of a heavy-tailed error distribution, both the IV-Krasker Welsch and the IV-Huber estimators provide substantial improvements in efficiency over conventional IV. Further, the informal robust procedure of using conventional IV after trimming does not match the efficiency gains of the formal robust methods. The empirical results indicate that households exhibit incomplete smoothing of consumption, with about 20-50% of predictable movements in income being buffered by asset stocks. When saving is disaggregated by type of asset, the results provide some evidence of borrowing constraints: households which are not subject to a liquidity constraint use financial assets as their primary means of buffering income fluctuations, while constrained households use purchases of durable goods almost exclusively as the vehicle for consumption smoothing.

    Sequential screening in semiconductor manufacturing.

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    Includes bibliographical references (p. 41-42).Supported by a grant from the Leaders for Manufacturing Program at MIT, and a grant from the National Science Foundation. DDM-9057297Mark D. Longtin, Lawrence M. Wein and Roy E. Welsch

    A Conversation with Roger Welsch

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    In this session, moderated by Barre Toelken and William A. "Bert" Wilson, audience members have the opportunity to discuss Roger Welsch's plenary lecture, and his other works and ideas, with the author

    Adaptive learning rate control for neural gas principal component analysis

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    Schenck W, Welsch R, Kaiser A, Möller R. Adaptive learning rate control for neural gas principal component analysis. In: ESANN 2010 proceedings - European Symposium on Artificial Neural Networks. Bruges (Belgium): d-side publications; 2010: 213-218

    BACKGROUND TO THE INTRODUCTION OF HIGH YIELDING VARIETIES OF RICE IN THAILAND

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    This paper describes Thailand's experience to date with new technology in rice, namely new high yielding varieties with associated inputs, which forms one part of the "green revolution." First, the historical background in exports, production, and domestic marketing and pricing is presented. Next the significant developments in rice research in Thailand are described, followed by a brief outline of the adoption of new varieties. In the final section, some implications are drawn for future developments, based on the experience gained until now.Crop Production/Industries,

    De Epilepsia

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    ... Publico Eruditorum Examini Submissa Præside Christiano Ludovico Wucherer ... Respondente Joanne Melchiore Welsch, ... Ad D. Febr. M DCC XIX ...Vorlageform des Erscheinungsvermerks: Jenæ, Litteris MullerianisJena, Univ., Diss., 171
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