We investigate the derivation of optimal interest rate rules in a simple stochastic framework. The monetary authority chooses to minimise an asymmetric loss function made up of the sum of squared components, where the monetary authority places positive weight on squared negative (positive)...

Based on generalized order statistics from Weibull distribution the approach of Bayesian and non-Bayesian estimation are discussed. We present a simple and efficient simulational algorithm for generating a generalized order statistics sample from any continuous distribution. Specializations to...

Abstract In the present paper we discuss the problem of estimating the survival function R ( x ) = P ( X x ) of the Pareto distribution, when the sample contains discordant observations. Bayes point estimates and credible intervals are obtained by assuming exchangeable and identifiable models...