Bayesian additive regression trees (BART) is a fully Bayesian approach to modeling with ensembles of trees. BART can uncover complex regression functions with high-dimensional regressors in a fairly automatic way and provide Bayesian quantification of the uncertainty through the posterior....

Management decisions regarding maintenance protocols critically hinge on the underlying probability distribution of the time between failures in most repairable systems. Replacement of the system with a new one resets the system age to zero, whereas a repair does not alter the system age but may...

In this speech, the Governor first identifies the polar positions often taken on the issue of central bank independence: at one extreme a set of elite individuals beyond political influence and with extensive but generally defined powers; at the other the central bank as simply another arm of...

In his annual speech at the Mansion House, the Governor reports on an improving international environment. Risks to the outlook remain from the imbalances within and between the industrial countries, which persisted over the past year, but the global economy may now at least be moving in the...