This paper introduces a new method for nonlinear continuous-discrete filtering.It is shown that the Fokker-Planck-Equation can be solved numericallyby using distributed approximating functionals (DAFs). Theapproximation is very accurate and resolves the time interval between observationsin one...

Bivariate time series data often show strong relationships between the two components, while both individual variables can be approximated by random walks in the short run and are obviously bounded in the long run. Three model classes are considered for a time-series model selection problem:...

This study applies a full information maximum likelihood (FIML) estimator of the sample selection model with bivariate selection rule for the investigation of the impact of subsidised firm foundation from unemployment on employment growth of the firm. The empirical analysis is based on the ZEW...

The Matching Distribution converges to a Poisson Distribution with ë = 1 as the parameter n converges to infinity. A generalization of the Matching Distribution is proposed. The properties of this Generalized Matching Distribution (GMD) turn out to be analogical to the case with ë = 1.