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 ...

Use of space-time codes with multiple transmit antennas has generated a lot of interest for increasing spectral efficiency as well as improved performance in wireless communications. Although, the literature on space-time coding is quite rich now, the orthogonal designs of Alamouti [1], Tarokh et al. [2, 3], Naguib and Seshádri [4] remain popular. The strength of orthogonal designs is that thes...

Previous in vitro work on rabbit knee joint vessels showed that vasoconstrictor effects of nerve stimulation and administration of α-adrenoceptor agonists were mediated predominantly by α1-adrenoceptors5,9 The present experiments were performed to assess the nature of α-adrenoceptor subtypes within these blood vessels in vivo. Dose/response relationships for adrenaline and noradrenaline pr...

        This paper proposes a new forecasting model for investigating relationship between the price of crude oil, as an important energy source and GDP of the US, as the largest oil consumer, and the UK, as the oil producer. GMDH neural network and MLFF neural network approaches, which are both non-linear models, are employed to forecast GDP responses to the oil price changes. The resul...

In this paper, a packet-loss resilient, bandwidth-scalable 3-D graphics streaming system is proposed. It uses the Compressed Progressive Mesh (CPM) algorithm [1] to generate a hierarchical bit-stream to represent different levels of details (LODs). We assign forward error correction (FEC) codes to each layer in the encoded bit-stream according to its importance. To this end, we develop a new di...

In the crystal structure of the title compound, poly[tri-μ-formato-cobalt(II)potassium], [CoK(CHO(2))(3)](n) the Co(2+) cations are coordinated by six O-bonded formate anions in an octa-hedral coordination mode and the K(+) cations are eightfold coordinated by seven O-bonded formate anions within irregular polyhedra. The Co(2+) cations are connected by bridging formate anions into a three-dimen...

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...