forecast distribution provides conditionally well-calibrated density forecasts of returns, from which we obtain accurate estimates of conditional return quantiles. In the remainder of this paper, we proceed as follows. We begin in section 2 by formally developing the relevant quadratic variation theory

. We present a new technique, called "backscatter analysis", that provides an estimate of worldwide denial-of-service activity. We use this approach on three week-long datasets to assess the number, duration and focus of attacks, and to characterize their behavior. During this period, we

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This article provides a Markov model for the term structure of credit risk spreads. The model is based on Jarrow and Turnbull (1995), with the bankruptcy process following a discrete state space Markov chain in credit ratings. The parameters of this process are easily estimated using observable

A simple procedure for cloning and stable insertion of foreign genes into the chromosomes of gram-negative eubacteria was developed by combining in two sets of plasmids (i) the transposition features of Tn1O and TnS; (ii) the resistances to the herbicide bialaphos, to mercuric salts

-come this liability. Predictions were tested with a paired sample of 24 foreign exchange trading rooms of major Western and Japanese banks in New York and Tokyo. Results support the existence of a liability of foreignness and tbe role of a firm's administrative beritage in providing competitive advantage to its

diffusion relates to other factors affecting economic growth in open economies. The following main section of the paper provides a review of recent empirical results on (i) basic results in intemational technology diffusion; (ii) the importance of specific channels of diffusion, in particular trade

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following listing. We show how these unusual share price changes are robust to changing market risk exposures and are related to an expansion of the shareholder base and to the amount of capital raised at the time of listing. Our tests provide support for the