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Left dislocation in Zulu
(2004)
This paper examines left dislocation constructions in Zulu, a Southern Bantu language belonging to the Nguni group (Zone S 40). In Zulu left dislocation configurations, a topic phrase in the beginning of the sentence is linked to a resumptive element within the associated clause. Typically, the resumptive element is an incorporated pronoun (cf. Bresnan & Mchombo 1987), as illustrated by the examples in (1) and (2). In these examples, the object pronoun (in italics) is part of the verbal morphology and agrees with the noun class (gender) of the dislocate. This situation is schematically illustrated in (3), where co-indexation represents agreement: ...
We modify the concept of LLL-reduction of lattice bases in the sense of Lenstra, Lenstra, Lovasz [LLL82] towards a faster reduction algorithm. We organize LLL-reduction in segments of the basis. Our SLLL-bases approximate the successive minima of the lattice in nearly the same way as LLL-bases. For integer lattices of dimension n given by a basis of length 2exp(O(n)), SLLL-reduction runs in O(n.exp(5+epsilon)) bit operations for every epsilon > 0, compared to O(exp(n7+epsilon)) for the original LLL and to O(exp(n6+epsilon)) for the LLL-algorithms of Schnorr (1988) and Storjohann (1996). We present an even faster algorithm for SLLL-reduction via iterated subsegments running in O(n*exp(3)*log n) arithmetic steps.
Quantificational determiners in Japanese can be marked with genitive case. Current analyses (for example by Watanabe, Natural Language and Linguistic Theory, to appear) treat the genetive case marker in these cases as semantically vacuous, but we show that it has semantic effects. We propose a new analysis as reverse partitives. Following Jackendoff (MIT-Press, 1977), we assume that partitives always contain two NPs one of which is phonologically deleted. We claim that, while in normal partitives the higher noun is deleted, in reverse partitives the lower noun is deleted.
Multiplayer games have become very popular in the PC market. Almost none of the current games are shipped without some support for multiplayer gaming. At the same time mobile devices are becoming more powerful and popularity of games on these platforms increases. However, there are almost no games that support multiplayer gaming despite the multiple options of these devices to connect with each other and build mobile ad hoc networks. Reasons for this lack of multiplayer support are the high diversity of mobile devices as well as the different protocols and their properties that these devices support. With “SmartBlaster” we developed a multiplayer game for several different platforms that is using several different channels (Bluetooth, IrDa, 802.11 and other networks supporting TCP/IP) to communicate between them.
A remarkable indictment and conviction following the sale of an ‘obscene’ comic book invites us to examine arguments brought forth to describe a specifically childlike reception of new media, as usually suggested by those who would motivate legal restrictions for such media. Trying to explain some perceived contradictions on the surface of these arguments, we discuss whether it is the failure or rather the extreme success of texts that is marked as ‘dangerous’ in such contexts.
We propose a new framework for modelling the time dependence in duration processes being in force on financial markets. The pioneering ACD model introduced by Engle and Russell (1998) will be extended in a manner that the duration process will be accompanied by an unobservable stochastic process. The Discrete Mixture ACD framework provides us with a general methodology which puts the idea into practice. It is established by introducing a discrete-valued latent regime variable which can be justified in the light of recent market microstructure theories. The empirical application demonstrates its ability to capture specific characteristics of intraday transaction durations while alternative approaches fail. JEL classification: C41, C22, C25, C51, G14.
In recent methodological work the well known ACD approach, originally introduced by Engle and Russell (1998), has been supplemented by the involvement of an unobservable stochastic process which accompanies the underlying process of durations via a discrete mixture of distributions. The Mixture ACD model, emanating from the specialized proposal of De Luca and Gallo (2004), has proved to be a moderate tool for description of financial duration data. The use of one and the same family of ordinary distributions has been common practice until now. Our contribution incites to use the rich parameterized comprehensive family of distributions which allows for interacting different distributional idiosyncrasies. JEL classification: C41, C22, C25, C51, G14
Empirical evidence suggests that even those firms presumably most in need of monitoring-intensive financing (young, small, and innovative firms) have a multitude of bank lenders, where one may be special in the sense of relationship lending. However, theory does not tell us a lot about the economic rationale for relationship lending in the context of multiple bank financing. To fill this gap, we analyze the optimal debt structure in a model that allows for multiple but asymmetric bank financing. The optimal debt structure balances the risk of lender coordination failure from multiple lending and the bargaining power of a pivotal relationship bank. We show that firms with low expected cash-flows or low interim liquidation values of assets prefer asymmetric financing, while firms with high expected cash-flow or high interim liquidation values of assets tend to finance without a relationship bank.
Hackethal and Schmidt (2003) criticize a large body of literature on the financing of corporate sectors in different countries that questions some of the distinctions conventionally drawn between financial systems. Their criticism is directed against the use of net flows of finance and they propose alternative measures based on gross flows which they claim re-establish conventional distinctions. This paper argues that their criticism is invalid and that their alternative measures are misleading. There are real issues raised by the use of aggregate data but they are not the ones discussed in Hackethal and Schmidt’s paper. JEL Classification: G30
Tractable hedging - an implementation of robust hedging strategies : [This Version: March 30, 2004]
(2004)
This paper provides a theoretical and numerical analysis of robust hedging strategies in diffusion–type models including stochastic volatility models. A robust hedging strategy avoids any losses as long as the realised volatility stays within a given interval. We focus on the effects of restricting the set of admissible strategies to tractable strategies which are defined as the sum over Gaussian strategies. Although a trivial Gaussian hedge is either not robust or prohibitively expensive, this is not the case for the cheapest tractable robust hedge which consists of two Gaussian hedges for one long and one short position in convex claims which have to be chosen optimally.